Trump Signs Executive Order for Sovereign Wealth Fund Creation
- U.S. President Donald Trump signed an executive order on Monday.
- The order tasks the Treasury and Commerce Departments with creating a sovereign wealth fund.
- Treasury Secretary Scott Bessent shows cautious interest in cryptocurrency.
- Commerce Secretary nominee Howard Lutnick is a strong advocate for the crypto sector.
- Lutnick’s firm, Cantor Fitzgerald, manages Tether’s government paper holdings.
- Bitcoin’s value increased to $99,600 following the announcement.
The executive order signed by President Trump mandates the creation of a sovereign wealth fund, with Treasury and Commerce Departments leading the effort. Bitcoin’s price rose to $99,600 after the news broke.
Source (2.6)https://www.coindesk.com/policy/2025/02/03/trump-orders-creation-of-sovereign-wealth-fund?rand=52298
