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- The White House rejected parts of the sovereign wealth fund proposal created by Trump’s advisers.
- Details of the sovereign wealth fund are still in debate without any final decisions announced yet.
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The White House opposed certain elements of the sovereign wealth fund proposal, which was developed a report From CBS News.
The plan, which was presented by early May, follows Trump’s executive for the month of February to direct the treasury and trade sections to develop a framework for the American sovereign wealth fund within 90 days.
The request is paid speculation that the fund It may be used to gain bitcoin On behalf of the US government.
However, at the time, Bessent and Lutnick said that the box will already focus on orders, fairness and other non -algebraic investments. However, David Sachs, Trump’s encryption, indicated that Bitcoin can be included in the box’s wallet.
This is no longer the case after Trump signed a separate executive order Create a strategic bitcoin reserve And the stock of digital assets on March 6, indicating an independent approach in encryption possessions.
There were also rumors that the box might be funded through definitions and other revenue sources despite the constant budget deficit. But Lootnick later made it clear that the tariffs would not be used to support the sovereign wealth box.
According to the CBS News report, White House spokesman Kush Disai said that the treasury and trade sections have made plans to direct Trump, but no final decisions were made.
Desai added that the administration continues to look at the initiative as part of its broadest effort to protect national and economic security.
Details of the Fund’s structure and purpose remain in the discussion, with no official announcement in the short term.
The sources say that Trump has not yet decided how the fund’s revenues will be used, although he had previously put forward the idea of taking a stake in Tiktok, which faces a potential embargo in the United States unless he injured Bensanis.
Regarding the American strategic Bitcoin reserves and the stock of digital assets, the Bessent and Lutnick are also assigned to determine the operational guidelines, nursery frameworks and acquisition strategies. These plans are expected to remain separate from the sovereign wealth fund initiative and are designed to be Neutral budget.
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