{"id":38885,"date":"2025-03-17T07:26:02","date_gmt":"2025-03-17T07:26:02","guid":{"rendered":"https:\/\/dev.tradesilvania.com\/democrats-pressure-u-s-treasury-to-halt-trumps-bitcoin-reserve-plan\/"},"modified":"2025-03-17T07:26:02","modified_gmt":"2025-03-17T07:26:02","slug":"democrats-pressure-u-s-treasury-to-halt-trumps-bitcoin-reserve-plan","status":"publish","type":"post","link":"https:\/\/www.tradesilvania.com\/en\/news\/democrats-pressure-u-s-treasury-to-halt-trumps-bitcoin-reserve-plan\/","title":{"rendered":"Democrats Pressure U.S. Treasury to Halt Trump\u2019s Bitcoin Reserve Plan"},"content":{"rendered":"

\n \"Democrats\n <\/p>\n

President Donald Trump\u2019s plan to create a national bitcoin reserve has become the subject of controversy as Rep. Gerald Connolly, the top Democrat on the House Committee on Oversight and Government Reform, has called for the U.S. Treasury to cease all actions on the project. <\/p>\n

Connolly\u2019s letter to the Treasury expressed concerns about the glaring \u201cconflicts of interest\u201d that could arise from Trump\u2019s involvement in cryptocurrency ventures, including World Liberty Financial, a crypto firm backed by Trump that holds $76 million in digital assets. Connolly also pointed to the memecoins TRUMP and MELANIA launched ahead of Trump\u2019s inauguration as another example of potential self-enrichment.<\/p>\n

Trump\u2019s plan, which was revealed in an executive order last week, aims to establish a strategic Bitcoin<\/a> reserve using cryptocurrencies forfeited in legal proceedings. Connolly\u2019s criticism comes as Trump has made conflicting statements about the assets that would be included, initially naming SOL<\/a>, XRP<\/a>, and ADA<\/a> before confirming that bitcoin would also be part of the reserve. Connolly\u2019s letter has asked the Treasury to outline any steps taken to mitigate conflicts of interest and to provide a briefing on the matter by March 27.<\/p>\n","protected":false},"excerpt":{"rendered":"

President Donald Trump\u2019s plan to create a national bitcoin reserve has become the subject of controversy as Rep. Gerald Connolly, the top Democrat on the House Committee on Oversight and Government Reform, has called for the U.S. Treasury to cease all actions on the project.<\/p>\n

Connolly\u2019s letter<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[95],"tags":[99,98,103],"class_list":["post-38885","post","type-post","status-publish","format-standard","hentry","category-news","tag-en","tag-news","tag-trump"],"acf":[],"yoast_head":"\nDemocrats Pressure Treasury to Stop the Bitcoin Reserve Plan<\/title>\n<meta name=\"description\" content=\"Connolly\u2019s criticism comes as Trump has made conflicting statements about the assets that would be included.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tradesilvania.com\/en\/news\/democrats-pressure-u-s-treasury-to-halt-trumps-bitcoin-reserve-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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