The crypto market never closes, so it was fitting President Donald Trump made the announcement on a Sunday: he was going to reward the billionaires who funded his presidential run.

“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration,” Trump wrote in a post on Truth Social, a social media website that he owns. His brilliant son Eric made a post suggesting that his father’s announcement qualified as market manipulation. Fantastic.

Trump promised his crypto constituency a “strategic national bitcoin stockpile” on the campaign trail. The new post expands the plan to include Ethereum, Solana, Ripple’s XRP, and Cardano. I am using “plan” loosely. I don’t know who’s going to buy and hold the tokens, or even if tokens need to be bought at all, or what kind of wallet will be used, or any of the rest of it. In a sane system, we’d have an inkling of these things, but this is Donald Trump.

Look, I know I’ve been saying this a lot lately, but this is so stupid. The US dollar is a source of American soft power and a tool for setting fis …

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