Former President Donald Trump has thrown his weight behind the idea of creating a federal reserve of cryptocurrency assets, specifically mentioning XRP, Solana, and Cardano in a recent post on his social network, Truth Social. This move is seen as a reversal of the crypto regulatory framework put in place by the Biden administration, which Trump has been critical of.

In January, Trump issued an executive order calling for the creation of a working group to study and make recommendations around crypto policy, including the potential creation and maintenance of a national digital asset stockpile. The working group was tasked with proposing criteria for establishing such a stockpile, which could be derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.

Trump's latest post appears to go further, making it clear that he wants to see the reserve become a reality. "A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA," Trump wrote. "I will make sure the U.S. is the Crypto Capital of the World."

The prices of all three cryptocurrencies mentioned in Trump's post have seen a significant surge, with each increasing by 15% or more as of publication time Sunday morning. This sudden spike in value is likely a result of Trump's endorsement, which has injected new optimism into the market.

Trump's move is seen as a direct challenge to the crypto regulatory framework put in place by the Biden administration. Under Trump's administration, the Securities and Exchange Commission (SEC) has taken a friendlier, deregulatory stance towards the industry. The SEC recently dismissed its lawsuit against Coinbase and declared that memecoins are not securities. This shift in regulatory tone has been welcomed by many in the crypto community, who see it as a step towards greater adoption and innovation.

Trump's interest in cryptocurrency is not new. He has previously signed an executive order calling for the creation of a U.S. sovereign wealth fund, which he suggested could be used to purchase TikTok. This move was seen as a bid to increase U.S. influence in the tech sector and to counter the growing influence of Chinese companies.

The implications of Trump's support for a federal crypto reserve are far-reaching. If realized, it could lead to greater mainstream adoption of cryptocurrency and increased investment in the sector. It could also lead to a shift in the global balance of power, with the U.S. potentially becoming a major player in the crypto market.

As the crypto industry continues to evolve, it remains to be seen how Trump's endorsement will shape the future of cryptocurrency in the U.S. and beyond. One thing is clear, however: Trump's support for a federal crypto reserve has sent a strong signal to the market, and its effects will be felt for months to come.