Trump’s Crypto Reserve Announcement Shakes Market
After former U.S. President Donald Trump announced plans to establish a U.S. Strategic Cryptocurrency Reserve with BTC, ETH, SOL, XRP, and ADA, a crypto whale faced major losses.
Onchain data from Lookonchain shows the whale, who held a 20x short position on XRP, panicked and added $8 million USDC to avoid liquidation. Despite this, the position is down $4.6 million.
The whale’s portfolio includes long positions in BTC, ETH, and SOL, while shorting XRP, SUI, DOGE, ADA, and HYPE.