Eric Trump recently warned traditional finance to adapt to cryptocurrencies or risk becoming obsolete, following his father Donald Trump’s announcement of a U.S. Strategic Crypto Reserve (SCR).
The news, shared on Truth Social, sent digital assets soaring, with Bitcoin rising 10% to over $94,000, Ethereum up 13%, and Cardano’s ADA increasing 60%.
Trump clarified that the reserve would include Bitcoin, Ethereum, and others like XRP, Solana, and Cardano, distinguishing it from previous ideas of merely stockpiling seized crypto.
I love the genius of announcing a strategic reserve on a Sunday, when traditional markets are closed and Wall Street sleeps. For the first time, retail investors win. Traditional finance better catch up, or it will quickly become extinct. The world no longer runs on a Mon-Friday,… pic.twitter.com/EPtbEisbdI
— Eric Trump (@EricTrump) March 3, 2025
He emphasized that the move counters years of negative regulation and aims to stabilize the industry.
Reactions from the crypto community are mixed. While some view the SCR as a positive step, others are concerned about the government’s control over crypto and which assets are chosen for the reserve.
Critics worry it could destabilize the U.S. dollar or be liquidated by future administrations. As the market reacts, all eyes are on the upcoming White House Crypto Summit for further details on the reserve’s operation.
Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
The latest market turbulence, fueled by geopolitical tensions and investor fear, offered a textbook case of how sentiment swings and whale behavior shape crypto price action.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.
Anchorage Digital, a federally chartered crypto custody bank, is urging its institutional clients to move away from major stablecoins like USDC, Agora USD (AUSD), and Usual USD (USD0), recommending instead a shift to the Global Dollar (USDG) — a stablecoin issued by Paxos and backed by a consortium that includes Anchorage itself.