Ripple insisted on adding $SOL to make the inclusion of $XRP “look more legitimate.”
Donald Trump will reveal new details about the composition of the reserve.
Former Morgan Stanley executive Michael Grimes is reportedly set to lead the National Wealth Fund.
Ripple Pushes for SOL in the U.S. Crypto Reserve
Executives from Ripple Labs have proposed to U.S. President Donald Trump that SOL be included in the Strategic Blockchain Reserve (SBR), which was announced on March 2. This move is aimed at making the addition of XRP appear more legitimate, according to sources cited by Unchained. Ripple CEO Brad Garlinghouse emphasized the importance of collaboration within the crypto industry. According to him, the Trump administration’s approach reflects a move towards a world with diverse blockchain solutions, “free from excessive maximalism.”
At the time of writing, XRP is trading at $2.54, up 2.9% in the past 24 hours (CoinGecko data).
Crypto Summit
The first-ever crypto summit will take place at the White House on March 7. The forum is expected to reveal new details about the reserve’s composition, which is likely to include ADA alongside XRP and SOL. U.S. Secretary of Commerce Howard Lutnick hinted that Bitcoin will receive a “special status” under Trump’s plans, while the general stance toward other cryptocurrencies will be “positive.” On the Polymarket prediction platform, the probability of XRP being included in the reserve is 29%, similar to SOL (28%). In comparison, the likelihood of Bitcoin being included is 65%, while Ethereum stands at 42%.
“We Will Win”
Cardano founder Charles Hoskinson stated in a livestream that he was unaware of Trump’s intention to include ADA in the crypto reserve.
A Dream for $BTC Maximalists?
Bitwise Chief Investment Officer Matt Hougan noted that market participants reacted skeptically to the inclusion of altcoins in the crypto reserve. According to him, adding small-cap assets to the SBR has “unnecessarily complicated the situation.” “When the dust settles, I suspect that the final reserve will consist almost entirely of Bitcoin, and it will be larger than people expect,” Hougan stated. The price of Bitcoin surged following the news of its inclusion in the SBR, but later dropped below $83,000 before rebounding to $91,384 on March 6.
The Collapse of Decentralization?
Solana co-founder Anatoly Yakovenko argues that the crypto reserve should not be created at all. According to him, if the government controls the SBR, it will “lead to the collapse of decentralization.”
“Either states manage their own reserves as a hedge against Federal Reserve mistakes, or the SBR should be based on objectively measurable requirements. […] If there’s a goal that needs to be achieved, the Solana ecosystem will handle it,” Yakovenko said.
At the time of writing, SOL is trading at $148.95, up 3.3% in the past 24 hours.
Trump’s Wealth Fund and Political Backlash
According to Reuters, former Morgan Stanley executive Michael Grimes is set to lead the proposed National Wealth Fund, which will be financed through revenues from foreign tariffs. Discussions are still ongoing, and a final decision has yet to be made. Meanwhile, on March 3, Euro Pacific Capital President and Bitcoin critic Peter Schiff urged Congress to investigate Trump’s actions, calling them the “biggest crypto scam in history.”
