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Jan 30, 2025 Trump ordered creation of a federal sovereign wealth fund and a strategic bitcoin reserve Tier 1 · Primary Economic Structure
Directing new financial instruments without clear congressional authorization raises questions about executive control over substantial public and cryptocurrency assets.
Primary sourceA record that carries the claim alone
Independently corroborated by1 independent news desk
Supporting reportingSurfacings — do not carry alone
Supporting reports
- Trump orders creation of sovereign wealth fund — Trump ordered the US Treasury and Commerce Department to create a sovereign wealth fund. Such a fund, which requires congressional approval, would act as an investment fund for the country, operating outside the Federal Reserve and the Treasury Department. Trump offered few details about the fund, including where the cash would come from. Treasury Secretary Scott Bessent told reporters the government would "stand this thing up within the next 12 months." Trump stated "We have tremendous potential. I think in a short period of time, we'd have one of the biggest funds." Trump also said the fund could be used to facilitate the purchase of TikTok.
- Trump creates strategic bitcoin reserve — Trump signed an executive order to establish a strategic bitcoin reserve. The reserve "will be capitalized with bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings," according to Trump's crypto czar David Sacks. Creating the reserve was one of several crypto-related promises Trump made during the 2024 election campaign.
Verified: Tier 1 primary record
Week 2 – 2025-01-25–2025-01-31
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