In a recent interview on Bloomberg Television, David Sacks, the White House AI and crypto czar, provided some insight into President Trump’s mention of XRP, Solana (SOL), and Cardano (ADA), which has brought these cryptocurrencies into the spotlight. According to Sacks, these cryptocurrencies were mentioned because they have a significant presence in the market and rank among the top assets by market capitalization.
“I think people are overanalyzing it. He simply mentioned the top five,” Sacks said, simplifying Trump’s choice of coins. Currently, XRP has a market capitalization of $139 billion and is trading at $2.31, experiencing a nearly 9% decrease in the past 24 hours.
In the current situation, SOL has a capitalization of $72 billion, with a quoted value of $137.07, while ADA has a capitalization of $29.6 billion, with a quoted value of $0.7975. Excluding stablecoins, SOL and ADA rank as the fifth and seventh largest crypto assets, respectively.
Moreover, President Trump signed an executive order to establish a strategic reserve of Bitcoin and digital assets in the United States. This reserve will mainly consist of seized cryptocurrencies, without any immediate acquisitions of new tokens.
Unlike the Bitcoin reserve, this additional stock of digital assets will be managed independently, with no active acquisitions unless they result from seizures. The U.S. Treasury Secretary will have the authority to sell these assets as needed.
Before this decision, the United States lacked a clear policy on the management of seized cryptocurrencies, leading to disorganized management across different federal agencies and missed financial opportunities.
When asked about the possibility of the Treasury Department exploring methods to value crypto holdings, Sacks confirmed that strategies such as staking and lending are being considered. “The purpose of this executive order is to create the mandate,” he explained. “We will conduct an audit and then move the assets to a separate account for safekeeping.”
The Treasury Secretary and their team will be responsible for managing this portfolio, implementing strategies that serve the long-term interests of the American people. “And yes, this could include making bets, rebalancing, and sales,” added Sacks.