PANews reported on March 14 that according to DL News, U.S. Congressman Gerry Connolly has urged U.S. Treasury Secretary Scott Bessent to stop efforts to establish a U.S. national Bitcoin reserve. Connolly said in the letter that this move would not benefit the public and would only profit the president and his donors while exposing U.S. taxpayers to great financial risks. Connolly also expressed concerns about U.S. President Trump's personal financial interests in cryptocurrencies and his dissatisfaction with the initiative not being approved by Congress.