Donald Trump crypto reserve move will ‘derail second term’
Donald Trump’s move to create a cryptocurrency federal reserve has been described as a “terrible idea” that could derail his presidency.
Investor Jason Calacanis, who co-hosts a podcast with Mr Trump’s crypto tsar David Sacks, has warned the use of taxpayer funds to “pump” digital tokens could lead to “disaster”.
“It’s a terrible idea to spend taxpayer money buying the crypto bags of the people who donated many millions to him,” he said.
The US President on Sunday named five cryptocurrencies under consideration for a new “strategic reserve,” sending their values skyrocketing and partly reversing a recent slump.
In a post to his Truth Social network, Mr Trump said a working group he set up shortly after taking…
