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The White House AI and Crypto czar, David Sacks, has come clean that President Donald Trump mentioned Cardano (ADA), Solana (SOL), and XRP only because of their high market capitalization rankings in the crypto market and without a hint of government preference.

David Sacks spoke to Bloomberg Technology on March 8. His remarks are in direct contrast to speculative reports making the rounds in the market that these cryptocurrencies could play a potential role in the reserve strategy.

“Well, the president just mentioned the top five cryptocurrencies by market cap, so I think people are just reading into this a little bit too much. He just mentioned the top five in terms of what we'll have.”, said Sacks.

He added that the government was considering strategies, including lending or staking its crypto assets to bring in returns, supervised by the Treasury Department.

The initial pile for the U.S. Crypto Strategic Reserve, which includes confiscated cryptocurrencies, does not extend to new Bitcoin purchases but does not rule that option out in the future either. The decision disappointed some investors anticipating an aggressive government buying strategy. Bitcoin fell after the announcement and since then has been trading around $87,000.

In other news, Cardano founder Charles Hoskinson said he was caught off-guard upon discovering that ADA was included in the proposed reserve without consulting him first.

He said he had not been informed of the decision until the formal announcement and was unaware of what was happening.

However, the absence of Cardano’s creator from the White House Crypto Summit has sparked controversy, with speculation over how participants to the summit were selected.

Industry participants and investors alike will watch closely as the government finds its footing in this new space, managing and deploying its crypto holdings strategically.