Don’t forget that Ripple was the largest donor to the largest non-party/candidate superpac in the last election cycle. If you thought they weren’t going to get a seat at the table (and ice out Bitcoiners), you weren’t paying attention.
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It's politics. The crypto reserve including XRP doesn't mean they lobbying didn't work. It means that if we didn't lobby, BTC wouldn't have been included at all.
It’s how the game works.
Oh I take that back, actually, Ripple donated $45M, Coinbase $45.5M. Close enough though.
Ripple gave him millions
Charles Hosk gave him hand jobs
David Sacks is a criminal
Nice, Brian Armstrong already has a strong super villain look going on.
Am I the only one who doesn't really care about which "coins" (very loosely speaking) the US gov invests in? I'm just genuinely astonished (and yes, I am including the kind of person Trump is, which obviously is a huge part of this) that they're investing in coins at all (is that confirmed, then?).
Yeah I'm sure all you guys are right that lobbying pushed this forward, but it's still insane.
the reason it matters is because of what it says to the billions who will enter the "crypto" market going forward. think this post summarizes it nicely:
Stacker News
Trump's shitcoin reserve is the index fund-ification of crypto \ stacker news ~bitcoin
Most have heard about Trump's announcement this morning of a shitcoin reserve that will also include bitcoin. Bitcoin never really needed Trump, bu...
So? If the US built a “crypto reserve” out of ADA SOL XRP etc and NOT BTC it would be HYSTERICAL! It would be the single dumbest thing any president would have ever done. It would be the final catalyst in the complete destruction of the United States. We all know that those “tokens” are going to zero.
Probably means any news of Bitcoin being used as permissionless cypherpunk money or privacy improvements will result it the price tanking on speculation it will be removed from the reserves.
You'll never be able to market bitcoin, let alone "bitcoin not crypto", to people. Bitcoin did not succeed because it had a marketing department; quite the opposite.
It’s not entirely clear to be whether it’s going forward, tbh. Probably the White House can invest in some assets somewhere in the federal government, but also probably not a lot? And getting Congress to pass a law buying random coins seems like a bit of a stretch to me, tbh.
As for if it matters, I think it’s more an indication of who has influence for this administration.
If so, then let it be.
And the entire US crypto reserve will be in Baron Trump's crypto wallet.