Trump Creates US Strategic Crypto Reserve With Seized Bitcoin: Live Updates
President Donald Trump has signed an executive order establishing a strategic cryptocurrency reserve using bitcoin already seized by the government. The move, announced ahead of a White House meeting with crypto executives, disappointed investors hoping for new federal purchases of digital assets. Following the news, bitcoin initially dropped 5% before recovering in early trading.
What to Know:
- The U.S. will hold seized bitcoin in a Strategic Bitcoin Reserve, treating it as a formal asset.
- The reserve will not involve new government purchases at this time.
- A separate U.S. Digital Asset Stockpile will include other seized cryptocurrencies.
- Crypto backers argue the move could boost taxpayer…
