4 days ago
As crypto executives gathered for a White House Summit Friday and officials clarified plans for a Crypto Reserve, determination was 1 large winner: Bitcoin. In a Sunday March 2 societal media message, President Trump had outlined a Reserve program to see ETH, SOL, ADA and XRP alongside BTC. But, by Thursday nighttime March 6, erstwhile helium signed an enforcement bid connected the reserve, that program had changed. Now, Bitcoin will get its ain reserve and different coins volition beryllium relegated to a abstracted “stockpile.” Regulatory newsman Jesse Hamilton led our sum from Washington D.C.
The volte-face came aft vociferous industry reaction to Trump’s Sunday plan, which whitethorn person impacted decision-making. Many Bitcoiners complained BTC would beryllium diluted alongside lesser-cap coins and that Bitcoin has unsocial characteristics arsenic “digital gold” wherever different projects don’t. In the end, the White House seemed to agree. ADA, SOL and XRP, having been buoyed by the Sunday announcement, all plunged connected the news, per reporting from CoinDesk’s Kris Sandor and Cheyenne Ligon.
There was different bully quality for the premier cryptocurrency. President Nayib Bukele said El Salvador would proceed buying BTC adjacent aft an IMF woody that had seemed to scotch that mission, CoinDesk’s Tom Carreras reported. Texas passed a measure to make its ain Bitcoin Reserve, starring astir 20 different states that are considering the same, Hamilton reported. Fold added 475 BTC, becoming a top-10 nationalist bitcoin treasury, James Van Straten wrote.
Lombard Finance said it would deploy its liquid-staking bitcoin token, LBTC, connected Sui, deepening bitcoin’s moat successful crypto markets. CoinDesk’s Francisco Rodrigues had that news. (Meanwhile, Sui’s autochthonal token was added to the Trump-owned World Liberty Financial Asset Reserve, boosting its price.)
Danny Nelson had the scoop of the week: News that DoubleZero Foundation, a stealthy startup gathering a “new internet” aiming to amended blockchain performance, had raised $28 cardinal astatine a $400 cardinal valuation (it is present looking for much investment.)
In different news, Sam Bankman-Fried spoke to Tucker Carlson from his situation cell, different halt connected his media play to triumph a statesmanlike pardon. Once an enthusiastic backer of Democrat electoral candidates, SBF present seems to beryllium connected the GOP side. We’ll person to spot whether his outreach pays dividends successful the weeks ahead.
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