Trump could be a catalyst for a global pro-crypto shift, Binance CEO says

The comments came after Trump pressed ahead with an executive order to establish a strategic reserve of cryptocurrencies for the U.S. using digital assets seized in criminal and civil forfeiture cases.
In a post on Truth Social, Trump said that in addition to Bitcoin, the strategic reserve would include ether, XRP, Solana's SOL token, and Cardano's ADA coin.
The Binance CEO described the U.S. crypto reserve as a "landmark" issue. "The messaging is the largest government … the biggest capital market in the world is now holding Bitcoin as part of the reserve, [that'll] cause many other governments to think through the issue, to sit up to say, should we start doing allocation into crypto and bitcoin?"
Bitcoin prices have fallen since Trump's announcement of a strategic crypto reserve as details of the plan fell short of expectations. Investor enthusiasm toward assets perceived to be risky has also softened more broadly due to concerns over the impact of Trump's tariff plans.
Teng downplayed the recent pullback in crypto markets as a "tactical retreat," as — like any other asset class — it is not "immune" to macroeconomic situations. Nonetheless, Washington's embrace of the digital assets and Trump's nomination of several crypto-friendly legislators will provide "strong" long-term drivers, he said.
Since his victory in November, Trump has focused on appointing government leaders who support the cryptocurrency sector. Venture capitalist David Sacks was tapped by Trump to be the White House artificial intelligence and crypto czar.