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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Trump Signs Executive Order to Create U.S. Sovereign Wealth Fund

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The post Trump Signs Executive Order to Create U.S. Sovereign Wealth Fund appeared first on Coinpedia Fintech News

As per a recent report from Bloomberg, U.S. President Donald Trump has signed an executive order on Monday ordering the U.S. Treasury and Commerce Departments to create a sovereign wealth fund.

“We have huge potential,” Trump remarked on Monday in the Oval Office, as he unveiled the new initiative. He shared that Treasury Secretary Scott Bessent and Commerce Secretary nominee Howard Lutnick would take charge of the effort. Bessent, standing alongside Trump, emphasized that the fund would be established within the next 12 months, calling it a key issue of “great strategic importance.”

This move aims to create a significant government-controlled investment fund, potentially positioning the U.S. as a major player in global markets alongside countries like Norway and Saudi Arabia. The fund’s creation has sparked discussions on how it might be financed, managed, and what its investment strategies will focus on, especially given America’s substantial national debt. This development is seen as a strategic step to enhance U.S. economic influence both domestically and internationally

Trump indicated that this fund could potentially be used to purchase TikTok. TikTok, which has about 170 million U.S. users, was temporarily taken offline before a law requiring its Chinese owner, ByteDance, to sell or face a ban took effect on Jan. 19. After taking office, Trump delayed the law for 75 days with an executive order. He said he’s in talks with several buyers and expects to decide TikTok’s future in February.

A Sovereign Wealth Fund (SWF) is a state-owned investment fund made up of assets like stocks, bonds, real estate, and other financial instruments. Governments create these funds to meet specific economic goals, often using money from budget surpluses, foreign currency operations, privatizations, government transfers, or resource export revenue.

However, it remains to be seen whether BTC and other digital assets will be included in it.

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