White House to Clarify Strategic Cryptocurrency Reserve Plan

According to Odaily, Fox Business journalist Charles Gasparino has reported that the White House is preparing to clarify its so-called 'strategic cryptocurrency reserve' plan. This clarification is expected to be released later today or tomorrow. Gasparino speculates that the focus might be on the funding mechanism, particularly the potential hurdles of using taxpayer money to purchase digital currencies, a move that would likely require congressional approval but is deemed nearly impossible to achieve. Gasparino suggests possible solutions, including utilizing confiscated cryptocurrencies for reserves, with reports indicating that 200,000 bitcoins have been seized from criminals. Another option could involve adopting a sovereign wealth fund model to finance cryptocurrency purchases, an idea previously proposed by former U.S. Commodity Futures Trading Commission Chairman Chris Giancarlo. Gasparino emphasizes that the situation is still evolving and may change.