The post Trump Signs Executive Order to Create U.S. Sovereign Wealth Fund appeared on BitcoinEthereumNews.com.

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. Bessent and Lutnick to Head U.S. Sovereign Wealth Fund Initiative He shared that Treasury Secretary Scott Bessent and Commerce Secretary nominee Howard Lutnick would take charge of the effort. “We’re going to stand this thing up within the next 12 months. We’re going to monetize the asset side of the U.S. balance sheet for the American people,” Treasury Secretary Scott Bessent told reporters. “There’ll be a combination of liquid assets, assets that we have in this country as we work to bring them out for the American people.” 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. Is Bitcoin Included In It? A Sovereign Wealth Fund (SWF) is a state-owned investment fund made up of…

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Filed under: News - @ February 4, 2025 12:10 am