U.S. President Donald Trump has initially named XRP, Solana (SOL), and Cardano (ADA) as three assets set to be included in the country’s strategic crypto reserve, before mentioning bitcoin (BTC) and ether (ETH).

The president of the Swiss National Bank (SNB) Martin Schlegel has dismissed the idea of incorporating bitcoin into its reserves, over concerns surrounding the cryptocurrency’s volatility, liquidity and security.

The White House has announced that U.S. President Donald Trump will host a summit focused on cryptocurrencies on March 7.

Top stories in the Crypto Roundup today:

• Trump Names BTC, ETH, XRP, SOL and ADA for Strategic Crypto Reserve
• Swiss Central Bank President Dismisses Bitcoin Reserves
• Trump to Host Cryptocurrency Summit at White House on March 7

Trump Names BTC, ETH, XRP, SOL and ADA for Strategic Crypto Reserve

U.S. President Donald Trump has initially named XRP, Solana (SOL), and Cardano (ADA) as three assets set to be included in the country’s strategic crypto reserve, before mentioning bitcoin (BTC) and ether (ETH).

"A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA," Trump said on his social media platform Truth Social.

Following Trump’s initial announcement, the prices of these digital assets started surging. Around an hour after the initial announcement, the president added that “obviously” BTC and ETH would be “the heart of the Reserve.”

Trump has been discussing the creation of a strategic crypto reserve since his presidential campaign and soon after taking office signed an executive order for a working group to “evaluate the potential creation and maintenance of a national digital asset stockpile.”

Swiss Central Bank President Dismisses Bitcoin Reserves

The president of the Swiss National Bank (SNB) Martin Schlegel has dismissed the idea of incorporating bitcoin into its  reserves, over concerns surrounding the cryptocurrency’s volatility, liquidity and security.

In an interview with local media, Schlegel said that the central bank’s reserves need to be “highly liquid so that they can be used quickly for monetary policy purposes if needed” and pointed to a lack of security in cryptocurrencies being software-based assets.

“We all know that software can have bugs and other weak points,” Schlegel said in the interview, which came at a time in which a new initiative in the country is pushing for a constitutional amendment that would require the SNB to hold bitcoin and gold in its reserves.

Trump to Host Cryptocurrency Summit at White House on March 7

The White House has announced that U.S. President Donald Trump will host a summit focused on cryptocurrencies on March 7.

Per the announcement, Trump is set to deliver remarks at a gathering that will “include prominent founders, CEOs, and investors from the crypto industry, as well as members of the president’s Working Group on Digital Assets.”

The initiative is spearheaded by David Sacks, a venture capitalist and the White House’s crypto czar, and will be administered by Bo Hines, executive director of the working group on digital assets.

The working group includes representatives from the Securities and Exchange Commission, the Commodity Futures Trading Commission, as well as from the Treasury and justice departments.

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