Trump Signs Executive Order to Consider Establishing a National Digital Asset Reserve

Former President Donald $Trump signed an executive order to establish a "Presidential Working Group" to assess the possibility of creating a "National Digital Asset Reserve." The working group will be chaired by David Sacks, the White House's head of AI and cryptocurrency, and will include heads of relevant agencies such as the SEC and the Department of the Treasury. The order also rescinds the cryptocurrency executive order issued by the Biden administration in 2022. $Trump initially promised to establish a "Strategic National Bitcoin Reserve," but it now seems to have expanded its scope to include other digital assets. Senator Cynthia Lummis is pushing for legislation to formally establish a Bitcoin reserve and has suggested that the U.S. government sell part of its gold reserves to purchase 1 million Bitcoins. $Trump has also shown an openness to other cryptocurrencies, recently launching his own official meme coin on the Solana blockchain.