Trump Forms U.S. Crypto Task Force, Solana TVL Soars 600%, TRON Pushes Zero-Fee Stablecoin Framework

Bitcoin traded near $110,000 earlier this week at $109,356 and is currently priced at $103,907, up 0.20% in the past 24 hours, while Ethereum trades at $3,338, up +2.95%. The Fear and Greed Index maintained at 75, indicating a bullish market sentiment. Today, 

President Donald Trump Establishes the Working Group on Crypto and Digital Assets in the U.S. which is a huge step for crypto. Solana has witnessed an extraordinary surge in its Total Value Locked (TVL), skyrocketing by 600% to an impressive $9.77 billion within a year. This remarkable growth is primarily driven by the high-profile launches of President Donald Trump’s TRUMP memecoin and First Lady Melania Trump’s MELANIA memecoin. Furthermore, Tron founder Justin Sun is pushing forward with a zero-fee stablecoin framework. Sun announced plans to eliminate transaction fees for stablecoins, initially on Tron and later expanding to Ethereum and other compatible chains.

• President Donald Trump Establishes the Working Group on Crypto Assets in the U.S.

• USDC market capitalization exceeded $50 billion, a two-year high.

• The president of The ETF Store suggested that Cardano (ADA) could be the next cryptocurrency to apply for an ETF.

• Vine’s co-founder announced the launch of VINECOIN, with its market cap briefly surpassing $500 million.

• Trump family crypto project WLFI increased holdings by 10.61 million TRX and 3,079 ETH.

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President Donald Trump is propelling the United States to the forefront of the cryptocurrency arena. He signed an executive order creating the "Presidential Working Group on Digital Asset Markets." This group’s mission is to develop a federal regulatory framework for digital assets, including stablecoins, and assess the formation of a "strategic national digital assets stockpile."

Leadership and Key Members

David Sacks, appointed by Trump as the crypto czar, will chair the working group alongside the Treasury Secretary. Scott Bessent, a hedge fund manager supported by Trump, leads the Treasury and awaits Senate approval. Bessent expressed enthusiasm for crypto, stating his excitement about the president's support.

Executive Order Highlights

The executive order outlines plans for stablecoins, self-custody, and banking. It proposes that the national digital assets stockpile could include cryptocurrencies lawfully seized by the government. Key members of the working group include the Treasury Secretary, Attorney General, Commerce Secretary, Homeland Security Secretary, and chairs of the Commodity Futures Trading Commission and the Securities and Exchange Commission. Their task is to recommend whether existing regulations for digital assets need changes.

Administration’s Stance on Digital Assets

“The digital asset industry plays a crucial role in innovation and economic development in the United States,” the Trump administration declared. “It is therefore the policy of my Administration to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.”

The order ensures individuals can use public blockchain networks for lawful purposes without persecution. This includes mining, validating, and self-custody of crypto. Additionally, the administration promises fair access to banking services, addressing long-standing issues crypto firms face in maintaining U.S. bank accounts. The rise of crypto debanking has intensified debates in Washington D.C., highlighted by a lawsuit against the Federal Deposit Insurance Corporation by Coinbase and active legislative discussions.

Read more: Donald Trump Becomes the 47th President of the United States and Ushers in a Bold New Era with D.O.G.E.

Opposition to Central Bank Digital Currency (CBDC)

The executive order aims to ban the use of a central bank digital currency (CBDC) in the U.S. Although the Federal Reserve has explored CBDCs, past statements from Fed officials indicate they will not issue one without congressional approval.

Read more:  What is the Official Trump ($TRUMP) Memecoin and How to Buy?

Source: DefiLlama

Solana has experienced unprecedented growth in its Total Value Locked (TVL), skyrocketing by 600% to reach $9.77 billion. This surge is largely driven by the launch of President Trump’s TRUMP memecoin and the First Lady’s MELANIA memecoin. These launches have ignited significant interest and activity on the Solana network, positioning it as a leading platform for memecoin success.

President Trump’s Bitcoin Reserve Initiative

Trump is committed to making crypto a national priority, including plans for a Bitcoin reserve. There is debate over whether this reserve will rely on existing seized funds or involve significant government purchases of Bitcoin. Senator Cynthia Lummis introduced legislation to buy 1 million BTC using government funds over five years. Currently, the U.S. holds approximately 198,109 BTC from seizures, valued around $21 billion.

Trump also supports an "America-first" strategic reserve prioritizing U.S.-founded coins like USDC, SOL, and XRP. Rumors about a leaked inauguration speech announcing a Bitcoin reserve led to Bitcoin reaching a new high of over $109,000. Trump's campaign promises include appointing a crypto-friendly SEC Chair, commuting Ross Ulbricht's sentence, establishing a Crypto Presidential Advisory Council, repealing SAB 121, ending “Operation Choke Point 2.0,” and making the U.S. a Bitcoin mining powerhouse.

Read more: What Is a Strategic Bitcoin Reserve and How Likely Is It?

Launch of Trump’s Official Memecoin

Source: KuCoin

In a related move, Trump launched the official TRUMP memecoin, which quickly surged to a $15 billion market cap and a fully diluted value exceeding $75 billion. Following TRUMP, the MELANIA memecoin was introduced. Both were launched on the Solana network, boosting Solana’s total value locked (TVL) to $9.77 billion, a 600% increase from the previous year. Solana now handles approximately 300 million daily transactions with over 4 million active addresses.

Solana’s Significant Growth

Solana’s growth is driven by high-profile projects and the popularity of memecoins. The TRUMP token alone generated over $11 billion in volume on Solana. Additionally, Solana’s daily transaction fees hit a record $33.3 million. Established projects like Pudgy Penguins have also launched on Solana, enhancing its reputation as a leading platform for memecoin success.

Source: KuCoin

Tron founder Justin Sun is pushing forward with a zero-fee stablecoin framework. Sun announced plans to eliminate transaction fees for stablecoins, initially on Tron and later expanding to Ethereum and other compatible chains. Tron's stablecoin market share stands at 36%, second to Ethereum, with Tether’s USDT making up 98% of its $60 billion supply. USDT’s daily transfer volume on Tron grew by 28% to $18.43 billion in the last quarter.

Tron’s DeFi Activity and Future Prospects

Tron’s DeFi activity shows mixed results with a slight decrease in TVL but a significant jump in daily trading volumes on decentralized exchanges. Sun remains optimistic about Tron’s growth, citing partnerships and substantial investments aimed at driving crypto adoption in the U.S. Tron’s DAO has invested around $75 million into projects to boost crypto adoption, signaling a strong commitment to expanding its ecosystem.

Read more: Top TRON Memecoins to Watch in 2025 Following SunPump's Launch

President Trump’s initiatives signal a robust push to position the United States as a global leader in cryptocurrency. By establishing regulatory frameworks, exploring national reserves, and supporting innovative projects, the administration seeks to foster a thriving digital asset ecosystem. These efforts aim to enhance economic growth, secure fair banking access for crypto firms, and maintain the U.S.'s competitive edge in the evolving financial landscape.