Link: The crypto industry got what it paid for

The crypto market never closes, leading to President Trump's announcement on a Sunday to establish a U.S. Crypto Reserve, rewarding billionaires who funded his campaign. He promises to include major cryptocurrencies like Ethereum and Cardano, yet details on management and security remain unclear.

Trump's move might weaken the U.S. dollar, which currently serves as a global reserve currency, enhancing America's financial influence worldwide.

A U.S. crypto reserve could undermine the security and power of the dollar, despite dubious claims that it could extend its dominance by potentially influencing cryptocurrency pricing.

This initiative seems designed to benefit Trump’s financial backers in the cryptocurrency industry more than the American economy or its people.

Critics argue the reserve would support speculative assets with questionable real-world utility, contrasting sharply with traditional reserves like oil or gold that have tangible uses.

Overall, a crypto reserve appears to be a risky endeavor that could enrich a select few while posing broader economic and strategic risks. #

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