March Opens With a Bang: Why Crypto Market Is Up Today?
Nidhi Kolhapur3 Mar 20255 min read
President Donald Trump’s bold move will surely shake up the entire crypto market. He announced a new strategic crypto reserve featuring Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), aiming to make the U.S. the “Crypto Capital of the World.”
The news sent crypto prices soaring, with traders scrambling to react. One crypto whale made a huge profit by placing 50x leverage long bets on Bitcoin and Ethereum right before Trump’s announcement. The move paid off, earning the trader nearly $7 million as prices surged.
But not everyone is on board—some industry leaders and Bitcoin purists are already pushing back. Why these five coins? What does this mean for the future of U.S. crypto policy?
Let’s understand.
Critics Push Back: Should Bitcoin Be the Only Choice?
Not everyone is on board with Trump’s plan. Some crypto leaders and Bitcoin supporters, known as “Bitcoin maximalists,” argue that the reserve should only include Bitcoin.
Peter Schiff, a well-known Bitcoin critic, questioned Trump’s decision:
“I get the rationale for a Bitcoin reserve. I don’t agree with it, but I get it. Bitcoin is digital gold, better than analog gold. But what’s the rationale for an XRP reserve?”
Coinbase CEO Brian Armstrong Brian Armstrong at coinbase Brian Armstrong is the Co-Founder and CEO of Coinbase, the largest digital asset exchange in the United States. Since 2012, Armstrong has played a major role in pushing cryptocurrency toward mainstream use. His work focuses on building a strong connection between traditional financial systems and the growing Web3 ecosystem. Under his leadership, Coinbase achieved a major milestone in 2021 when it became the first large crypto exchange to go public on the Nasdaq. The event was a key milestone for the crypto industry. It contributed to increased institutional confidence in digital assets and revealed that larger financial players are beginning to take the sector more seriously. Over the last few years, Brian Armstrong has dedicated his efforts to fortifying blockchain infrastructure. At the same time, he has been promoting the need for clearer regulatory frameworks to support the long-term expansion of the crypto market. Quick Facts Full name Brian Armstrong Birth January 25, 1983 Education Rice University (B.A. in Economics and Computer Science; M.S. in Computer Science) Nationality American Martial Status Married Net Worth Estimated between $9 billion and $14 billion Career Overview Brian Armstrong began his career as a software engineer at Airbnb. During his time there, he regularly faced the difficulties of international payments. Sending money across countries was often slow, complicated, and filled with delays. During 2025 and early 2026, Brian Armstrong spent more time strengthening on-chain infrastructure while also pushing for clearer regulations for the crypto industry. He supported the expansion of Base, Coinbase’s Layer-2 network. The network later started integrating private transaction capabilities after Coinbase acquired the Iron Fish team. Brian Armstrong: Timeline of events 2012: Co-founded Coinbase after participating in the Y Combinator startup program. 2015: Launched Coinbase Exchange, built specifically for professional traders. 2017: Led Coinbase during the massive crypto bull run, when the app became one of the most downloaded apps on the App Store. 2021: Took Coinbase public through a historic Direct Listing (IPO) on the Nasdaq, reaching a peak valuation of more than $100 billion. 2022: Guided Coinbase through the challenging Crypto Winter and launched the Coinbase NFT marketplace. 2023: Introduced Base, a Layer-2 Ethereum scaling solution designed to grow the on-chain economy. 2024: Helped secure approval for the iShares Bitcoin Trust (IBIT), with Coinbase acting as the main custodian for BlackRock. 2025: Acquired the team behind Iron Fish to bring privacy features into the Base network. 2026: Spoke at major crypto forums and held discussions with the Trump administration about the federal stablecoin regulatory framework. Recognition of Brian Armstrong: Year Recognition Details 2012 Y Combinator Alumnus Selected for the prestigious accelerator to build Coinbase. 2017 Fortune 40 Under 40 Recognized for pioneering the retail crypto exchange model. 2021 Nasdaq Direct Listing Orchestrated the first public listing of a major US crypto exchange. 2023 Base Mainnet Launch Released Coinbase's proprietary L2 network for decentralized apps. 2025 Iron Fish Team Acquisition Strategic move to bring on-chain privacy to the Coinbase ecosystem. EntrepreneurInvestorDeveloper/ProgrammerCrypto and Blockchain Expert also suggested that Bitcoin alone would be the best choice, calling it the “simplest and clearest successor to gold.”
Meanwhile, Jeff Park, Bitwise’s head of alpha strategies, warned that including multiple cryptocurrencies was a “huge political miscalculation” by Trump.
Trump vs. Biden
Trump’s pro-crypto stance stands in sharp contrast to President Joe Biden’s tougher approach, which focuses on fraud and money laundering concerns. While Trump has embraced crypto, Biden has pushed for stricter regulations.
The exact details of Trump’s crypto reserve are still unknown, but more information is expected to be revealed at the upcoming Crypto Summit on March 7.
Crypto Summit Upcoming- Bullish News?
Trump will host the first White House Crypto Summit on March 7, bringing together industry leaders to meet Bo Hines and David Sacks to discuss regulations and stablecoin oversight, among other topics, as cryptocurrency prices make a modest recovery from their recent drop.
The Crypto Summit follows Trump’s SEC, led by Mark T. Uyeda, dropping several major lawsuits and investigations. The SEC recently ended its case against Coinbase, dropped probes into Gemini, OpenSea, Uniswap, and Robinhood, and could soon wrap up its case against Justin Sun. A judge also dismissed the SEC’s case against Richard Heart, though the agency may file a new complaint.
With Trump’s crypto-friendly stance gaining momentum, the upcoming Crypto Summit could mark a turning point for U.S. crypto regulations.
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FAQs
- Bitcoin surged due to Trump’s crypto reserve announcement, bullish market sentiment, and reduced regulatory pressure from the SEC.
