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Why Did Trump Choose Solana, $XRP And Cardano For US Crypto Reserves?
US President Donald Trump has just announced a list of cryptocurrencies in the Strategic Crypto Reserve, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA). This decision has sparked controversy in the global crypto community. Why were these 3 altcoins chosen instead of other coins? Chinese Expert: "Trump Has Political Motives Behind" Alex Xu, an analyst from Mint Ventures, has provided insightful comments on Trump's motives, suggesting that this is not simply a financial decision but also carries political implications. Funding for election campaign: Xu revealed that Solana, XRP, and Cardano have close financial ties to Trump, making significant contributions to his campaign and support funds. The inclusion of these three coins in the list may be a politically motivated response. Impact on Bitcoin's position: Bitcoin is considered the most legally compliant digital asset, but Trump's addition of SOL, XRP, and ADA to reserves could dilute BTC's role. Xu warns that this could make it more difficult to pass federal Bitcoin reserve legislation. Legal challenges: The US President may order the establishment of a crypto task force, but legitimizing these reserves still requires Congressional approval. Xu believes this will be difficult as the Republican Party holds only a fragile majority. How Will Trump Evade the Law? According to Xu, if Trump wants to avoid legal barriers, he can establish a National Investment Fund under the management of the US Treasury. This allows the government to buy SOL, XRP, and ADA without congressional approval. However, Xu raises the question of whether these projects are financially "attractive" enough for Trump to implement this strategy or not.