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Oversight Democrats launch review of crypto reserve 'poised to enrich' Trump

7 3
13.03.2025

House Oversight Democrats are encouraging President Trump to abandon his plans for a crypto reserve, calling it a strategy to enrich himself at taxpayer expense.

The reserve, announced by Trump last week as both a strategic bitcoin reserve and “digital asset stockpile” for other forms of digital currency, would be akin to other reserves and stockpiles managed by the government, such as those for gasoline, food, and gold.

But Trump has heavily invested in cryptocurrency, including in a platform for buying various cryptocurrencies as well as launching his own meme coin.

“Such a reserve provides no discernible benefit to the American people but would significantly enrich the President and his donors. It would also constitute unsound fiscal policy by picking winners among currencies via social media and wasting taxpayer dollars,” Rep. Gerry Connolly........

© The Hill