U.S. President Donald Trump announced on social media that five digital assets will be included in a new U.S. strategic reserve of cryptocurrencies, a move that spurred a significant surge in market values.
Following the announcement, Bitcoin, the world’s largest cryptocurrency, rose more than 11% to trade at approximately $94,164, while ether, the second-largest, increased by about 13% to around $2,516. Overall, the total cryptocurrency market experienced a roughly 10% uplift, translating to an increase of over $300 billion, according to data from CoinGecko.
Industry experts noted that the move could signal a shift toward more active U.S. participation in the crypto economy. Federico Brokate, head of U.S. business at 21Shares, stated that the decision may accelerate institutional adoption, provide clearer regulatory guidelines, and strengthen the U.S. leadership in digital asset innovation. However, James Butterfill, head of research at CoinShares, expressed surprise at the inclusion of assets beyond bitcoin, suggesting that these additional currencies are more akin to tech investments.
Trump’s announcement comes amid broader policy moves favoring the crypto industry. The president, who received support from the sector during his 2024 campaign, is set to host the first White House Crypto Summit on Friday, and his family has recently launched its own digital coins. Under Trump’s administration, the Securities and Exchange Commission has eased its scrutiny by withdrawing investigations into several crypto companies and dropping a lawsuit against Coinbase, the nation’s largest crypto exchange. This marks a departure from the regulatory approach of the previous administration, which had imposed stricter measures to curb fraud and money laundering.
Analysts have noted that despite recent downturns in cryptocurrency prices, market momentum could build further if additional catalysts, such as anticipated interest rate cuts by the U.S. Federal Reserve or a clearly articulated pro-crypto regulatory framework, emerge. Meanwhile, regulatory filings indicate that alongside hedge funds, banks and sovereign wealth funds have been increasing their allocations to crypto-related investments.
There is ongoing debate among legal experts and analysts over the best mechanism to establish the strategic reserve. Some argue that an act of Congress might be required, while others suggest that the U.S. Treasury’s Exchange Stabilization Fund could be used to purchase or sell the selected digital assets. Additionally, Trump’s crypto group had previously explored the option of creating the reserve using cryptocurrencies seized in law enforcement operations.
The announcement has intensified discussions on the future role of digital currencies in national policy, with market watchers and industry participants closely monitoring developments as the Trump administration pursues its crypto-related policy objectives.
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Residents of Hoi An, Vietnam’s UNESCO-listed ancient town, began cleaning up on Saturday as floodwaters receded following days of torrential rain that brought deadly flooding and widespread destruction to the central region.
Dozens of countries have yet to secure accommodation for their delegations at the COP30 climate summit, just a week before it begins, prompting host nation Brazil to offer free cruise ship cabins to poorer states in a last-minute effort to guarantee their participation.
Chinese President Xi Jinping told South Korean President Lee Jae Myung on Saturday that he was ready to deepen cooperation and work together to address shared challenges, while Lee appealed for Beijing’s support in efforts to revive dialogue with nuclear-armed North Korea.
Canadian Prime Minister Mark Carney said on Saturday that he had apologised to U.S. President Donald Trump over an anti-tariff political advert and had instructed Ontario Premier Doug Ford not to air it.
Reports from CNN say the Pentagon has approved the provision of long range Tomahawk missiles to Ukraine after assessing its impact on U.S. stockpiles, while leaving the ultimate decision to President Trump.
Tanzanian police fired tear gas and live rounds on Thursday to disperse protesters in Dar es Salaam and other cities, a day after a disputed election marked by violence and claims of political repression, witnesses said.
Russia launched a barrage of drones and missiles at Ukraine's energy infrastructure and other targets, forcing nationwide power restrictions and killing seven people, including a seven-year-old girl, Ukrainian officials said on Thursday.
The U.S. State Department has ordered the departure of all non-emergency personnel and their family members from Mali, citing escalating security risks as al Qaeda-linked insurgents tighten a fuel blockade on the country.
Iran’s Foreign Minister Abbas Araghchi said that Tehran is pursuing what he termed a policy of “provincial diplomacy” to promote Iran’s trade and cultural relations with its neighbouring countries.
Chinese electric carmaker BYD is making major strides in Europe, with sales surging nearly fivefold in September from a year earlier to just under 25,000 new registrations.
U.S. stocks were mixed late Wednesday as traders digested comments from Federal Reserve Chair Jerome Powell, who signaled that another interest rate cut in December is far from guaranteed. The Dow Jones Industrial Average and S&P 500 edged slightly lower, while the Nasdaq climbed on continued gains
U.S. chipmaker Nvidia has made history by becoming the first company in the world to reach a market value of 5 trillion dollars, driven by soaring demand for artificial intelligence technologies.
Nokia announced on Tuesday that chipmaker Nvidia will acquire a $1 billion stake in the company.
Türkiye’s main stock index, BIST 100, closed on Friday at 10,941.79 points, recording a 3.14% increase.
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