💨 Abstract

President Donald Trump has established a strategic bitcoin reserve through an executive order, to be capitalized with bitcoin seized from criminal and civil asset forfeiture proceedings. The move comes a day before a White House crypto summit where he is expected to formally announce a strategic reserve containing bitcoin and four other cryptocurrencies. The president's support for the crypto industry, which backed his election, has drawn concerns over potential giveaways and conflicts of interest.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖