Crypto Weekly Roundup: Trump Signs Bitcoin Reserve, SBF Blames Biden & More
This week marks the signing of an executive order to establish a Strategic Bitcoin Reserve by President Donald Trump, fulfilling a key campaign promise. The changing regulatory climate continues with the SEC dropping its lawsuit against Kraken and the US Treasury exploring further crypto acquisitions. Let’s find out more.
Bitcoin
U.S. President Donald Trump has signed an executive order to establish a Strategic Bitcoin Reserve utilizing seized digital assets, while also launching a Digital Asset Stockpile for responsible management.
However, industry experts are wondering that with no commitment to add to the reserve by buying Bitcoin, will this just be a sell-the-news event, or will more details be forthcoming at the Crypto Summit?
Matt Hougan, investment chief at Bitwise, recently said that while Trump’s Crypto Reserve Announcement is bullish, Hougan cautioned that the market is “misreading things.”
Mexican billionaire Ricardo Salinas, chairman and CEO of Grupo Salinas, has revealed that Bitcoin now constitutes 70% of his personal investment portfolio, with the remaining 30% allocated to gold and gold miners.
DeFi
Vadim Makovsky, founder and CEO of Diffuse is leading his team to leverage the zkServerless technology, unlocking the full potential of Collateral Abstraction to allow a broader range of assets to participate in securing various protocols and generate yield.
Business
Ripple’s Chief Technology Officer (CTO), David Schwartz, has expanded on the company’s approach to selling XRP. In response to comments regarding XRP supply and investor concerns, Schwartz emphasized that Ripple’s sales strategy is structured to support the broader ecosystem rather than merely generate revenue.
Web3
Kaia DLT Foundation, a company working to expand the Kaia blockchain ecosystem, has announced major milestones on the Kaia-powered Mini Dapps on LINE NEXT Inc., a LINE Messenger subsidiary focused on growing global Web3 businesses.
Given its zero-emission design and predictable output, it’s no wonder nuclear energy is being mentioned in the same breath as AI. As a result, uranium – the primary fuel for nuclear reactors – is seeing renewed interest, particularly as countries pursue net-zero goals.
SingularityNET and Privado ID (formerly Polygon ID) have announced a strategic technical partnership to achieve trust within the decentralized AI agent ecosystem.
Web3 games improve the Web2 gaming experience via decentralized storage and hosting, which are safer, more stable, and more transparent than centralized servers with their single point of failure.
Regulation
US Treasury Secretary Scott Bessent has revealed the US government is evaluating plans to acquire more cryptocurrency, including Bitcoin, for the US strategic reserve.
In a prison interview with conservative host, Tucker Carlson, Sam Bankman-Fried blamed external forces for FTX’s collapse, like intervention from the Biden administration, which he claimed forced his hand in declaring bankruptcy.
Coinbase is making another attempt to introduce tokenized securities in the U.S. stock market, revisiting a plan it first proposed in 2020 but was unable to execute due to regulatory hurdles.
Taking inspiration from President Trump’s money-saving agenda, Coinbase, one of the largest crypto exchanges in the world, has filed a request to the SEC to submit the total amount of American tax dollars spent on crypto enforcement actions over the past four years.
The recently established crypto task force will be holding a roundtable discussion focusing on defining the security status of digital assets, amid shifting regulatory approaches and recent policy changes.
The SEC has agreed to dismiss its lawsuit against Kraken with prejudice, preventing the regulator from refiling the case in the future.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
