President Donald Trump signed an executive order Thursday, establishing a Bitcoin Strategic Reserve with seized coins. The bitcoin price fell.

The cryptocurrency industry has enjoyed an unprecedented seat at the table in Trump’s White House, in contrast to a harder line drawn by former President Joe Biden and his administration. On Friday, for example, the White House will hold its first-ever crypto summit.

Bitcoin and crypto stocks took a hard hit after president Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve on Thursday night,

Bitcoin extended gains late Wednesday as the Trump administration grants temporary tariff relief and Beijing ramps up economic support.

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Solv Protocol and Soneium has partnered, bringing Bitcoin staking to Soneium, an Ethereum layer 2 blockchain supported by Japan’s Sony Group.

Bitcoin and the crypto market at large are surging as President Trump confirms that the US will establish a "crypto strategic reserve."