US President Donald Trump, on Sunday, announced the creation of a ‘Strategic Crypto Reserve’ aimed at positioning the US as the “crypto capital of the world.” In just 24 hours, nearly $315 million in Bitcoin shorts were liquidated, and over $330 billion flowed into the crypto markets. ADA (Cardano) surged by 70 per cent, XRP by 40 per cent, and Bitcoin by 10 per cent, in a single day.
The US initiative, which will include major cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana, and Cardano, has sparked a significant rally in digital asset prices, signaling a new era of institutional acceptance and regulatory clarity for the crypto industry. Industry leaders in India are calling for progressive policies to harness this momentum.
Industry reacts
Sumit Gupta, Co-founder, of CoinDCX opined, “President Trump’s announcements, starting with the creation of a Strategic Crypto Reserve, followed by hosting the first-ever White House Crypto Summit, has truly energised the industry. These moves represent a fundamental, era-defining shift, positioning the US at the forefront of the global crypto landscape.”
US’ initiatives set a new global standard for how digital assets should be viewed, presenting a significant opportunity for countries to adopt progressive policies that will drive growth in the crypto space, he said.
Raj Karkara, COO of ZebPay, shared, “This reserve comprising Bitcoin, Ethereum, XRP, Solana, and Cardano which are fundamentally robust assets, is a welcome sign for the industry. These networks are battle-tested, offering security, scalability and innovation that drive the digital economy forward. This reserve adds credibility to crypto and sets a precedent for other nations to fast-track regulations and embrace digital assets responsibly.”
Ashish Singhal, Co-founder of CoinSwitch, said this move marks the “golden age of crypto”.
“With the US spearheading the creation of a Strategic Crypto Reserve, we could be on the brink of a global accumulation race — one that could push regulatory clarity forward and accelerate Web3 innovation. This is more than just a milestone for digital assets; it’s a shift that could redefine global finance and technology.”
India’s crypto involvement
Policy-wise, nations with high crypto adoption like India, are likely to reconsider their stance on crypto. “While we’ve made progress so far, we’re still awaiting the publication of the discussion paper, and hopefully, see some reflection of the US’ new approach to crypto in that,” the CoinDCX Co-founder said.
CoinSwitch’s Singhal added that India stands at a crucial crossroads. With its deep pool of tech talent, entrepreneurial spirit and thriving startup ecosystem, the country has everything it takes to lead the next wave of blockchain-driven transformation. But to do so, India should embrace progressive policies, foster innovation and position itself as a hub for decentralisation.
“The future of the internet is being rewritten, and India has the potential to be at the forefront. This is our moment to seize the opportunity and build, not just for India, but for the world,” he said.
Political motives
This proposal is framed as a response to what Trump describes as “corrupt attacks” on the crypto industry by the Biden administration, Sathvik Vishwanath, Co-founder and CEO of Unocoin, explained. The concept mirrors the US Strategic Petroleum Reserve, aiming to bolster the economy and promote blockchain technology. Trump also opposed a US Central Bank Digital Currency (CBDC), fearing it would infringe on financial freedom.
He said that while supporters see it as a step toward legitimising digital assets, critics warn about the risks of government involvement in crypto markets. “The future of this plan remains uncertain, with significant political and regulatory challenges ahead.”
