BTC

David Sacks outlines a crypto plan with a Bitcoin Reserve

February 6, 2025 2 mins read

David Sacks, the White House’s Crypto Czar, held a press conference with Senate leaders to discuss important topics like stablecoin legislation and a Bitcoin Reserve. He emphasized the need for clear regulations. Sacks argued that past uncertainties pushed crypto businesses abroad and led to significant fraud cases, such as FTX. Since his appointment by President Trump, Sacks’ role in federal crypto policy was unclear. However, he outlined his agenda, which

Senator Hagerty introduces the GENIUS Act to regulate stablecoins

February 6, 2025 1 min read

US Senator Bill Hagerty has introduced the GENIUS Act, a bill focused on regulating payment stablecoins. This legislation aims to enhance the US dollar’s dominance in the digital currency space. It follows an earlier draft discussed in October, marking a significant move towards establishing a legal framework for stablecoin transactions. The GENIUS Act defines payment stablecoins as digital assets used for payments, which are pegged to a stable value. The

Blackrock (BLK) plans on listing a bitcoin exchange traded product (ETP) in Europe

February 6, 2025 1 min read

BlackRock, the largest asset management firm in the world with over $10 trillion in assets under management, is planning to launch a bitcoin exchange-traded product (ETP) in Europe. This news was reported by Bloomberg. The new fund will be based in Switzerland, and BlackRock may start marketing it as early as this month. This will be BlackRock’s first crypto-linked ETP outside the United States. Their U.S.-based iShares Bitcoin ETF has

President Trump’s new order launches a U.S. sovereign wealth fund

February 6, 2025 1 min read

President Donald Trump has signed an executive order to create a sovereign wealth fund, exciting Bitcoin supporters. This order instructs the Treasury and Commerce Departments to devise a plan within 90 days. The fund aims to enhance financial security, lower taxes, and boost the US economy. Sovereign wealth funds are government-managed investment funds that handle surplus money, often from trade or resource revenues. They invest in various assets like stocks,

Coinbase urges US regulators to confirm banks can offer crypto services

February 6, 2025 2 mins read

Coinbase is urging US regulators to allow banks to offer cryptocurrency services. As the largest custodian for US-based spot Bitcoin ETFs, Coinbase wants state-chartered banks to provide and outsource crypto custody and execution services. They are asking regulators to confirm that banks can legally serve crypto businesses. In a letter to the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC),

Crypto inflows fell to $527 million as DeepSeek AI hype drained liquidity

February 5, 2025 2 mins read

Last week, crypto inflows dropped significantly to $527 million. This was a sharp decline from the nearly $2 billion seen in previous weeks. The drop was mainly due to the hype surrounding DeepSeek AI, which affected liquidity in both digital assets and stock markets. According to a recent CoinShares report, investor sentiment took a hit from DeepSeek’s rise. While there were still positive inflows in digital assets, they were much

Bybit CEO Ben Zhou warns crypto liquidations may have hit $10 billion after US tariffs

February 5, 2025 2 mins read

Ben Zhou, the CEO of Bybit, has raised concerns about the state of the crypto market. He estimates that liquidations could reach between $8-10 billion, which is much higher than the reported figures. Zhou explained that major exchanges, including Bybit, limit the liquidation data shared publicly. This means that actual losses are likely much worse than they seem. He compared the current situation to the 2022 collapse of FTX, where

Utah to become the first state in the US to establish a Bitcoin reserve

February 5, 2025 2 mins read

Utah is poised to become the first state in the U.S. to create a Bitcoin reserve. The state has a quick 45-day legislative calendar, which encourages lawmakers to act fast. This gives Utah an advantage over other states in adopting Bitcoin. Dennis Porter, CEO of the Satoshi Action Fund, believes Utah is leading in this effort. He highlights the state’s digital asset task force, which works year-round. This task force

MicroStrategy ends its 12-week Bitcoin buying streak

February 5, 2025 1 min read

MicroStrategy has paused its Bitcoin purchases after a 12-week buying spree, surprising many in the crypto world. The company holds a vast amount of Bitcoin worth billions, but it did not add to its holdings this week. Michael Saylor, the CEO, confirmed this pause and noted that they did not sell any Class A common stock or use the proceeds to buy more Bitcoin. This change raises questions about the

El Salvador adds 50 BTC to its reserves

February 4, 2025 1 min read

El Salvador has recently added 50 BTC to its reserves, continuing its strategy of accumulating Bitcoin. This brings the total to about 6,055 BTC, worth over $606 million. The country is committed to Bitcoin despite making changes to its regulations to meet the International Monetary Fund’s (IMF) requirements for a $1.4 billion loan. Since making Bitcoin legal tender in 2021, El Salvador has steadily increased its Bitcoin holdings. However, to

Dogwifhat’s ICO Made Millionaires—Now, Arctic Pablo Is Your Chance to Get in Early as the Best Crypto to Buy in 2025

February 4, 2025 5 mins read

Think back to the early days of Dogwifhat—a meme coin that no one could predict would become a sensation. During its ICO, Dogwifhat was priced at a mere $0.00000007. It was a low-risk, high-reward investment that many shrugged off as just another internet joke. But for the few who believed in its potential and decided to invest at the ground level, the returns have been nothing short of monumental. Fast

Senator Lummis proposes a Strategic Bitcoin Reserve to cut the $36 trillion US debt

February 4, 2025 2 mins read

Senator Cynthia Lummis has proposed a Strategic Bitcoin Reserve to address the US national debt, which stands at $36 trillion. She believes that Bitcoin’s growth in value could help reduce this debt significantly over the next twenty years. Lummis argues that this reserve would fix financial errors made by previous generations and ease the economic burden on younger Americans. In a recent interview, Lummis stated that a Bitcoin reserve could