Donald Trump's crypto reserve announcement on Sunday and the announcement that XRP, Solana (SOL) and Cardano (ADA) would be added to the reserve, in addition to Bitcoin (BTC) and Ethereum (ETH), created a huge pump effect in the market. However, this Trump rally was short-lived, and the inclusion of XRP, SOL and ADA in the reserve was met with intense criticism from the cryptocurrency industry. While industry leaders like Coinbase CEO Brian Armstrong stated that only Bitcoin should be included, Bitcoin technology firm Jan3 CEO Samson Mow warned Trump about his altcoin choices. Samson Mow warned that the inclusion of random altcoins in the US strategic reserve could lead to chaos in the market and turn the market into a speculative game. Mow noted that Trump’s proposed crypto strategic reserve plan has the potential to lead to significant change for the industry, but the addition of altcoins like XRP, SOL, ADA, or ETH could turn the reserve plan into a “pure speculation game.” He argued that allowing Trump to freely choose which altcoins to include in the reserve could serve as a giveaway to lobbyists and insiders. The famous CEO finally said that in order to protect the integrity of the reserve, proof-of-work (PoW)-based assets such as Litecoin (LTC) and Monero (XMR) should be prioritized in the reserve, apart from Bitcoin. “There are two possible outcomes regarding the US Strategic Bitcoin/Crypto Reserve: 1-The reserve is BTC and none of the altcoins mentioned will actually make it. 2-We will be rapidly moving towards unprecedented corruption. …… Trump's statement may have been aimed at gifting exit liquidity to Ripple or Cardano lobbyists or donors. At this point, if Trump could somehow add random altcoins to the national reserve, it would be very bad for the US. In addition to Bitcoin, Trump's Strategic Crypto Reserve could potentially include: Litecoin, Monero. And considering Elon's influence in the Trump administration, I'm sure he'll find a way to rationalize Dogecoin's inclusion.” *This is not investment advice. Continue Reading: Famous CEO Said "Trump Needs to Stop!", Announced Altcoins That Should Be Added to Reserves Instead of XRP, SOL and ADA Apart from Bitcoin!
