David Sacks Discusses XRP’s Role in U.S. Cryptocurrency Reserves Amid Price Drop

In a recent Bloomberg interview, David Sacks, the White House Cryptocurrency and AI Lead, addressed queries about the potential inclusion of ADA, SOL, and XRP in the U.S. government’s cryptocurrency reserves. Known informally as the “Crypto Tsar,” Sacks clarified that the president referenced the top cryptocurrencies by market capitalization, which might have led to public misconceptions regarding government holdings. Currently, the federal government is confirmed to possess Bitcoin and possibly some Ethereum, yet uncertainty surrounds other altcoins, including the aforementioned ADA, SOL, and XRP. The lack of a cohesive digital asset strategy has been cited as a reason for the ambiguity in asset accounting, as Sacks noted that an audit of existing holdings is critical to understanding what assets belong to the federal government. Following these comments, ADA, SOL, and XRP saw a decrease in market value.