Trump Signs Executive Order on US Digital Assets: Bitcoin Reserves Confirmed, Says Binance CEO

President Donald Trump’s latest executive order has shifted the United States’ approach to digital assets, signalling a new era in federal policy. The order established the “Presidential Working Group on Digital Asset Markets,” led by crypto advocate David Sacks. Meanwhile, Binance CEO Changpeng Zhao stirred intrigue with claims that the US Bitcoin reserves are “basically confirmed.”

Trump’s Working Group on Digital Assets

In a significant move for the cryptocurrency industry, Trump signed an executive order creating a federal body to regulate digital assets. The Presidential Working Group on Digital Asset Markets is tasked with building a regulatory framework that includes stablecoins and exploring the establishment of a “strategic national digital assets stockpile.”

The initiative follows years of conflict between federal authorities and cryptocurrency advocates over regulation. Trump’s order marks a significant shift, framing digital assets as a national priority. It also reinforces his administration’s pro-crypto stance, with appointees like David Sacks and Treasury Secretary Scott Bessent spearheading the efforts. Bessent, a hedge fund manager and vocal supporter of cryptocurrencies, described the executive order as a bold advancement for the sector during a recent Fox Business interview.

A National Bitcoin Reserve?

One of the most notable aspects of the executive order is Senator Cynthia Lummis’ proposal to create a national Bitcoin reserve. Lummis, who chairs the Senate Banking Digital Assets Subcommittee, suggested that the US acquire 1 million BTC over five years. This stockpile would be valued at approximately $108 billion based on current prices.

The idea of a national Bitcoin reserve aligns with the US government’s history of large cryptocurrency seizures. Federal agencies already hold 198,109 BTC, valued at roughly $21 billion. Changpeng Zhao, CEO of Binance, highlighted the importance of these holdings, stating on X (formerly Twitter), “The US strategic Bitcoin reserves have been basically confirmed.”

This potential reserve could position the US as a leader in the global digital assets market, further cementing its status as the largest known nation-state holder of Bitcoin.

The TRUMP Memecoin Frenzy

Adding fuel to the digital fire, Trump introduced an official memecoin, aptly named TRUMP, during Washington’s Crypto Ball last week. The token quickly soared to a market cap of $15 billion and reached a fully diluted value of $75 billion within days, making it the fastest-growing memecoin in history. Not to be outdone, First Lady Melania Trump launched her own memecoin, MELANIA, built on the Solana blockchain.

The launch of these memecoins sparked debates over Trump’s apparent preference for Solana over Ethereum. Solana’s price surged to record highs following the announcement, while Ethereum also benefited as Trump’s decentralized finance (DeFi) platform, World Liberty Financial, invested heavily in ether. World Liberty Financial’s acquisition of Ethereum Name Service domains like worldliberty.eth and trumpcoin.eth further highlighted its ambitions in the decentralized ecosystem.

Cryptocurrency as a Strategic Asset

The executive order’s broader implications reflect a strategic shift in US policy. The emphasis on interagency collaboration aims to prevent the development of a central bank digital currency while promoting policies that strengthen the nation’s position in the digital asset market.

Speculation also surrounds the potential prioritization of US-based cryptocurrencies, such as USDC, SOL, and XRP, in the proposed digital reserve. While these plans remain unverified, they underscore Trump’s commitment to maintaining an “America-first” approach in the digital economy.

Bitcoin Hits Record Highs Amid Policy Buzz

The anticipation surrounding the executive order and related policies contributed to Bitcoin reaching a record $109,000 earlier this week. Investors and analysts alike view these developments as a significant endorsement of digital assets at the highest levels of government.

While details about the strategic reserve and regulatory framework are still emerging, the shift towards federal support for cryptocurrencies signals an important evolution in the US approach to digital finance.