A backlash over President Donald Trump’s plan to include three small and relatively risky tokens in an eagerly awaited U.S. strategic crypto reserve helped largely erase a rally for bitcoin and other digital assets on Monday.

President Donald Trump's announced a US crypto reserve of bitcoin, ether, XRP, sol, and ada. This is what they could achieve and how it might work.

Angel investor Jason Calacanis dismissed the idea as the latest “Trump pump” and “crypto grift.” Considering Calacanis’s close relationship to Trump’s “crypto czar,” David Sacks, this type of stuff may be a bad sign for the president on the crypto front: Sacks,