President Donald Trump‘s recent crypto reserve plan has sparked discontent among his tech community supporters. The plan, announced on Sunday, has led to a significant divide among his tech allies.
What Happened: The crypto enthusiasts have not welcomed President Trump’s decision to establish a strategic crypto reserve for the U.S., CNBC reported on Tuesday. The reserve will comprise not only Bitcoin (CRYPTO: BTC) but also other digital currencies such as Ether (CRYPTO: ETH), XRP (CRYPTO: XRP), Solana’s SOL token (CRYPTO: SOL), and Cardano (CRYPTO: ADA).
Trump’s initial moves to cut regulations and form a digital assets working group were applauded. However, this recent move is seen as an overreach. The tech community had anticipated an exclusive strategic Bitcoin reserve, which would involve purchasing Bitcoin with cash, a decentralized currency seen as a viable alternative to hard money.
Tyler Winklevoss, co-founder of crypto exchange Gemini, stated, “I have nothing against XRP, …
