Trump establishes ‘digital Fort Knox’ for bitcoin but crypto markets slump in response: Live updates
Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox
Get our free Inside Washington email
Get our free Inside Washington email
Donald Trump has signed an executive order establishing a strategic cryptocurrency reserve for the United States comprised of the 198,000 bitcoins the American government already holds through law enforcement confiscations, worth an estimated $17bn in total.
White House crypto czar David Sacks said the move would “not cost taxpayers a dime” but the announcement caused the price of bitcoin to slump on Thursday night, with the value of rival coins also tumbling.
Trump is hosting a “Digital Assets…
