CoinDesk Podcast Network COINDESK DAILY: Trump's Reserve Ignites Crypto Markets
Mar 3, 2025
Donald Trump's endorsement of a U.S. crypto reserve has sent Bitcoin soaring by 10%, while Cardano’s ADA jumped 60% and Ripple’s XRP rose 25% in a single day. The podcast dives into the implications of this political move on the crypto market, highlighting reactions from institutional players and the Ethereum Foundation’s leadership changes. With DeFi gaining traction, listeners learn about Uniswap’s innovations aimed at enhancing user experience across multiple chains. The dynamic crypto landscape is truly buzzing!
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Crypto Market Reaction to Trump's Announcement
- Donald Trump's renewed support for a crypto strategic reserve, including BTC, ADA, XRP, ETH, and SOL, caused significant market reactions.
- Bitcoin surged 10%, Cardano’s ADA jumped up to 60%, and Ripple’s XRP rose up to 25%.
Eric Trump on Strategic Timing
- Eric Trump suggested the timing of the crypto reserve announcement was strategic, aiming to benefit retail investors.
- He argued traditional finance needs to adapt to the 24/7 nature of the crypto world.
Arthur Hayes's Skepticism
- Arthur Hayes downplayed the significance of Trump's announcement, emphasizing the need for Congressional approval and funding mechanisms.
- He highlighted the importance of borrowing money or revaluing gold for the reserve to be effective.