Trump Says America Is Beating China in the Crypto Sector

President Donald Trump suggests that Americas pro-crypto stance is already yielding positive results, declaring the U.S. dominance over China in the crypto space. Its well known that the U.S. and China have been embroiled in a heated tariff war for months. This trade war escalated in April, with the United States imposing a 145% tariff on Chinese goods. Notably, China reciprocated and slammed a 125% tariff on goods imported from the United States. In the meantime, both countries have reached an agreement, with Chinas tariff dropping to 10% while the U.S. lowered its own to 30%. US Winning in China in Crypto When it seemed like the trade tension between the countries was fading, Trump recently declared that the United States is winning against China in crypto. Popular financial market reporter Walter Bloomberg shared an excerpt of Trumps comment in a tweet today. We are winning China in the crypto sector, Trump remarked. https://twitter.com/DeItaone/status/1922605675386929498His comment portrays the United States and China as rivals in the race to dominate the crypto industry. Before his reelection, Trump had been committed to helping the United States dominate the sector. In his view, America should be the crypto capital of the world.Crypto Mining Last month, U.S. Secretary of Commerce Howard Lutnick disclosed that Trumps administration is dedicated to supporting Bitcoin mining companies through the Investment Accelerator initiative. He revealed miners can run their operations off-grid by building power plants that run on waste gas instead of relying on local utilities. According to him, these power plants can be sited near where miners intend to run their data mining centers. In contrast, China has taken a more restrictive approach. In 2021, it launched a sweeping crackdown on crypto mining, and since then, it has not openly embraced the industry to the extent seen in the United States. Meanwhile, underground mining activities continue to thrive in China.Regulation China has continued to be strict against crypto assets, prohibiting their use in payments and investment. However, the U.S. is pushing to establish clear crypto regulation as part of its efforts to foster innovation in the space. Through his family-backed crypto project World Liberty Financial, Trump has even invested in multiple cryptocurrencies, including Bitcoin and Ethereum. Interestingly, his son Eric Trump recently disclosed that the president himself owns lots of BTC tokens.Bitcoin Holdings China still holds about 194,000 Bitcoin in its blockchain wallets despite its strict stance. However, Chinas Bitcoin holdings are still less than the United States 198,012 BTC, which it acquired through civil and criminal forfeitures. Trump Says Hes a Big Fan of Crypto Meanwhile, Trump reiterated his support for crypto, emphasizing that he is a big fan of digital assets. This is evident in the numerous supports he has given the industry since the beginning of his administration. Trump has solidly backed the industry by appointing several pro-crypto officials to his cabinet and advocating for clear crypto regulation. Interestingly, he issued an executive order to set up a national crypto reserve in the United States for top assets like Bitcoin and Ethereum. Through these efforts, the US hopes to maintain its leadership in the cryptocurrency sector.

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Trump-Backed Stablecoin USD1 to Power $2 Billion Binance Deal with Abu Dhabis MGX

World Liberty Financials USD1 stablecoin has officially been selected by Abu Dhabi-based MGX for the $2 billion investment in Binance. For perspective, in March 2025, Binance announced MGX's substantial investment, which represented the exchange's first institutional placement. While the deal highlighted stablecoin as the preferred mode of exchange, it was initially unclear which specific currency was involved. However, World Libertys USD1 has now been confirmed as the stablecoin to facilitate the historic deal. In particular, this confirmation came from World Libertys co-founder, Zach Witkoff, during the ongoing Token2049 crypto conference in Dubai.Witkoff stated that USD1 would facilitate Abu Dhabi-based MGX's $2 billion investment in Binance, the worlds largest cryptocurrency exchange.USD1 Stablecoin and Its BackingUSD1 is one of the most transparent stablecoins in the market, backed by short-term treasury and cash equivalents. According to U.S. President Trumps son, Eric Trump, World Libertys commitment is to ensure transparency, which is a primary factor in the stablecoins development. Trump emphasized that consumer safety remains a core priority for the company, which aims to build a product that can seamlessly move across borders. The stablecoin's structure aims to meet regulatory expectations and provide a secure financial tool for cross-border transactions.Witkoff discussed future plans for USD1 during the event. The company, backed by President Donald Trump, is working on further developments in decentralized finance, particularly integrating USD1 into DeFi and centralized finance ecosystems. Witkoff also mentioned that USD1 will soon be integrated into traditional retail point-of-sale systems.Cross-Chain Integrations for USD1Currently distributed on the Ethereum and Binance Smart Chain (BSC) blockchains, USD1 will expand its reach to the Tron network. This integration aligns with World Libertys strategic goals of increasing global adoption and expanding the use cases of stablecoin.Justin Sun, the founder of Tron, confirmed his crypto projects $75 million investment in World Liberty as of January 2025, further supporting the stablecoins push for wider integration.https://twitter.com/trondao/status/1917896060061843859

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Michael Saylor Says No Tariffs on Bitcoin as Donald Trump Brandishes Reciprocal Tax

Michael Saylor has again reiterated the decentralized and advantageous nature of Bitcoin in response to Donald Trumps tariff slap.Market participants have been fidgeting over Donald Trumps Liberation Day impact on the crypto market. However, the much-discussed April 2 reciprocal tariff update has quickly flown by with minimal impact on Bitcoin and altcoins compared to some observers anticipations.As nations react to Trumps tariff hike, Strategys executive chairman, Michael Saylor, took to X (formerly Twitter) to emphasize Bitcoins uniqueness amongst other commodities.There are no tariffs on Bitcoin, Saylor stated.No Tariff on BitcoinWhile tariffs negatively threaten a nations broader economy, tangible commodities suffer the most impact. Trumps tariffs are on all physically imported goods, which he justified were reciprocal to charges from other countries.Meanwhile, compared to other commodities, Bitcoin's digital properties have exempted it from the tariff parade. Saylor highlighted the pioneering cryptocurrencys unique advantage in a tweet today, bluntly reminding his over 4.2 million followers of its enviable properties.Nonetheless, the development has adversely impacted Bitcoins price since its inception, creating a divide among prominent market participants over the premier assets position as a store of value. Moreover, market participants argue that higher tariffs would impact the income of retailers and businesses, reducing appetite to invest in Bitcoin and other financial vehicles.Trump Sets Tariff Baseline at 10%The pro-Bitcoin president released details of his reciprocal tariff on Wednesday, noting that they would take effect on April 5. He highlighted those of a few countries in a dashboard he carried along while announcing the new importation levy.Asian countries like China, Japan, Taiwan, and Vietnam, among others, received reciprocal taxes of 34%, 24%, 32%, and 46%, respectively. America did not spare its allies either, brandishing a 10%, 17%, 20%, and 26% tariff on the UK, Israel, the European Union, and India.Trump's Dashboard Showing TariffMeanwhile, some nations have responded, with China threatening a counter-tariff hike if Trump does not retract his latest importation tax increase. With new developments unfolding, Bitcoin has continued to hold above $80,000.At the time of writing, the asset trades at $82,089, down barely 1% in the past 24 hours.

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Eric Trump Confirms Crypto Payments Will Be Allowed for Trump Tower Dubai

Eric Trump, VP of the Trump Organization, has confirmed that crypto assets will be accepted for real estate transactions at the companys newly announced luxury development in Dubai. This $1 billion project is under development in collaboration with the London-listed Dar Global. It marks a significant move into the Middle East for the Trump brand and an institutional embrace of crypto asset payments in high-end real estate.The development will include a Trump-branded hotel, residential units, two ultra-luxury penthouses priced at Dh75 million (approximately $20.4 million), and a private clubhouse. It is located at the entrance of Downtown Dubai on Sheikh Zayed Road. Notably, the project is scheduled for completion in five years.Eric Trumps statement reflects the company's recognition of evolving buyer preferences. By accepting crypto, the Trump Organization is catering to a growing class of crypto-native investors and high-net-worth individuals seeking to diversify their holdings into hard assets like premium real estate.Moreover, accepting crypto in this real estate venture further deepens the Trump familys ties with technology. Initially a vocal critic of Bitcoin and cryptocurrencies, President Donald Trump has since shifted his stance to become one of the most prominent advocates for crypto.As president, he signed executive orders to establish Bitcoin reserves and to position the U.S. as the leading market for crypto technology.Dubais Crypto-Forward Real Estate Ecosystem Grows StrongerMeanwhile, the latest announcement aligns with Dubais positioning as a hub for real estate and crypto innovation. With favorable regulations and increasing global appeal, the city continues to attract capital from across Europe, Asia, and Africa.According to Knight Frank, Dubai saw 111 property sales above $10 million in Q1 2025, totaling $1.9 billion, and welcomed 7,200 new millionaires in 2024 alone. This contributed to the UAEs total of 130,500 dollar millionaires.Trump Tower | BloombergGrowing Adoption of Crypto Payments This development aligns with a broader trend of traditional industries intersecting with the crypto economy.In 2023, The Crypto Basic reported that Bahrain-based real estate developer Bin Faqeeh began accepting Bitcoin (BTC) and Shiba Inu (SHIB) for property purchases via Binance Pay. This move reflects growing crypto adoption in the real estate sector, following similar actions by companies like Condos.com and Pacaso.Earlier this month, Lomond School in Scotland became the first UK educational institution to accept Bitcoin for tuition payments. This further highlights the growing trend of crypto payments in traditional sectors.

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Trump Urges the Fed to Follow Suit After ECB Slashes Interest Rate by 25 Bps: Heres How Bitcoin Could React

Bitcoin could benefit as President Trump urges the Federal Reserve to take a similar approach following the ECB's recent interest rate cut.Notably, the European Central Bank has slashed interest rate by 25 bps, bringing it down to 2.25%. For context, this marks its seventh consecutive cut since June 2024. The cumulative reduction, amounting to 1.75 basis points from a peak of 4%, represents the ECB's most aggressive easing cycle among major central banks.Specifically, the decision was due to concerns over the eurozone's economic outlook, which has been negatively impacted by escalating U.S. tariffs, including a 20% levy on EU imports.These trade tensions have introduced uncertainty, leading to weakened growth prospects and inflation falling to 2.2% in March 2025, close to the ECB's 2% target. The ECB's rate cuts aim to stimulate spending, borrowing, and investment amid these challenges.Trump Urges Federal Reserve to Follow SuitReacting to the ECBs latest move, President Donald Trump criticized the U.S. Federal Reserves comparatively cautious approach. He expressed his dissatisfaction via Truth Social, lambasting Federal Reserve Chair Jerome Powell for being too slow and often mistaken in his policy decisions.President Trump on Truth SocialPresident Trump on Truth SocialFurther, Trump stressed that while global prices such as oil and groceries are decreasing, and tariffs are benefiting the U.S. economy, the Fed still hasnt acted decisively to support further growth.Notably, he called for immediate rate cuts and even suggested Powell's removal from office, indicating a growing political push for looser monetary policy in the United States.While the ECB is racing ahead with monetary easing, the Federal Reserve has been hesitant. Since September 2024, the Fed has implemented only three rate cuts, totaling 75 basis points, placing the current federal funds rate between 4.25% and 4.50%.Federal Reserve officials, including Powell, have signaled a wait-and-see approach. They continue to stress the importance of evaluating incoming economic data before making further decisions. This tone looks to maintain financial stability, yet it also places the Fed out of sync with more aggressive central banks like the ECB.How Could Bitcoin React?Significantly, these monetary policies could have meaningful implications for risk assets, particularly crypto assets like Bitcoin. The ECBs rate cuts typically encourage investors to seek higher-yielding alternatives, driving interest in speculative assets, including Bitcoin and crypto.In contrast, the Feds reluctance to cut rates could strengthen the U.S. dollar, placing downward pressure on dollar-denominated assets like Bitcoin by making them less attractive to international investors.Bitcoin has already shown signs of reacting to these macroeconomic headwinds. After a steep correction that saw the cryptocurrency fall below the $80,000 level, it has since regained ground, currently trading around $84,052.However, it remains in a struggle between bullish optimism and bearish pressure near the $85,000 resistance zone. The uncertainty surrounding the Feds next policy move is adding to this volatility, leaving Bitcoin traders cautious.Market participants, particularly in the crypto scene, are now looking at the Federal Reserves next rate decision early next month, which will likely contribute to the next price direction.Should the Fed pivot towards a more dovish stance and announce further rate cuts, Bitcoin could experience renewed buying momentum as liquidity returns. Conversely, continued restraint by the Fed could suppress investor appetite for high-risk assets, prolonging Bitcoins sideways or downward trajectory.

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He Just Mentioned the Top Five, David Sacks on Trumps Mention of XRP, ADA and SOL as Reserve Assets

The White House crypto and AI czar David Sacks has shed more light on Donald Trumps mention of XRP, Solana, and Cardano as US reserve assets.President Donald Trump signed an executive order on Thursday evening to create a US strategic reserve for Bitcoin and a digital asset stockpile for other assets. Initially perceived as bullish, the bill sparked widespread speculation in the crypto community, mainly due to certain disclosures.The order disclosed it would not buy to add to the altcoins in the crypto stockpile. Notably, the president earlier mentioned Ethereum, XRP, Solana, and Cardano as part of the stockpile.Amid the uproar, crypto czar David Sacks has attempted to clear the air. In an interview with Bloomberg TV, the head of the newly formed White House crypto working committee suggested that the community has overbought the inclusion of the earlier-mentioned altcoins in the national reserve.Trump Just Mentioned the Top FiveSacks stated that people are reading a lot of meaning in Trumps addition of XRP, SOL, and ADA to the crypto reserve. He clarified that the pro-Bitcoin president merely mentioned the top five cryptocurrencies by market cap.Well, the president just mentioned the top five cryptocurrencies by market cap, so I think people are reading into this a little too much, Sacks told Bloomberg when asked why Trump mentioned these altcoins.Furthermore, Sacks mentioned that the United States does not know which digital asset it owns now; hence, the order requested a full audit of the nations portfolios. After the audits, the czar stated that it remains in the office of the Treasury secretary to either keep or sell discovered altcoins in the state's best interest.However, this does not apply to Bitcoin, the largest cryptocurrency by market cap. Sacks noted that America would store the asset and pursue budget-neutral funding for more purchases.US to Explore Crypto Staking or LendingMoreover, the crypto czar highlighted that the US might explore crypto lending, rebalancing, or staking after discovering all the assets in this purse. Howbeit, he stressed that the executive orders main objective is to create a proper digital asset management system.Once the tasked authorities complete the audit, the digital asset team will move the coins to a new wallet for safekeeping. Afterward, the office of the treasury secretary will employ proper portfolio management and stewardship.Meanwhile, XRP, SOL, and ADA have not fared well following the recent disclosure. The high-caliber assets are down 6%, 4%, and 5.86%, respectively, in the past 24 hours.

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Bitcoin Not a Trump Priority? TD Cowen Faults Key Omission at Recent Congressional Address

Industry expert argues that President Donald Trump's omission of Bitcoin and crypto in Tuesday's congressional address puts his policy position in doubt.Over the past year, President Donald Trump has talked up crypto at rallies, at a Bitcoin conference, and on social media, but perhaps never in the places that matter, according to some experts.The latest incident to stir these sentiments is Trump's omission of crypto in his Tuesday, March 4, congressional address.While some have argued that the president refrained from mentioning crypto to avoid complicating delicate negotiations between House Republicans and Democrats on stablecoin legislation, investment bank TD Cowen has reportedly offered another view: crypto is not a priority for Trump."If it was a personal priority, then it would have been in the speech," TD Cowen Washington Research Group Managing Director Jaret Seiberg wrote in a note.The Cowen executive argued that Trump only talks up the industry before crypto investors.These sentiments are perhaps more significant when combined with the fact that election polls last year showed that crypto was not a core issue for voters, and crypto executives had raised a significant war chest willing to throw cash at whoever so much as looked their way twice in order to overturn a perceived stifling regulatory environment.While the strategy has undoubtedly given the industry a lot of influence in Washington, it does leave room for doubt about the genuineness of some of its newfound support.Whatever the case, the industry does appear to be on pace for an extended fairweather period as the executive arm and regulators seem willing to collaborate with its leaders on policy at a never-before-seen level.For one, on Friday, March 7, some of these leaders will convene at the White House for the first-ever crypto summit.

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Donald Trumps Family Ventures Into Bitcoin Mining With Hut8 Partnership

Donald Trumps eldest sons have further deepened their ties with the nascent crypto sector with a quest into Bitcoin mining.A Wall Street Journal exposition confirmed the recent venture by the Donald Trump family. Specifically, the enterprise involved Donald Trump Jr. and Eric Trump, the eldest sons of the US president.The two brothers will invest in American Bitcoin, a company focused on mining Bitcoin, the largest cryptocurrency by market cap, in collaboration with Hut8, a Miami-based energy infrastructure and crypto miner.Trumps Sons Launch New Business EntityIn February, Eric and Donald Trump Jr. rebranded Dominari, a small investment firm, to American Data Centre after the enterprise announced the duo would join their advisory board. A little over a month later, the newly launched firm is collaborating with Hut8, one of the largest North American-based miners in the country.On Monday, the WSJ reported that the two firms formed an alliance, rebranding American Data Centre to America Bitcoin. Hut8 would hold 80% of the new firm, with the Trump sons settling with 20%.Meanwhile, the new enterprise would leverage over 61,000 machines supplied by Hut8 to mine Bitcoin, aiming to become a powerhouse in the sector. However, unlike most miners, the firm is focused on creating new batches of the premier asset for its strategic reserve.Notably, the presidents sons disclosed that the miner operates as a separate entity from the Trump Organization, an empire built by the real-estate mogul. Furthermore, American Bitcoin is unrelated to the recent executive order that President Trump signed to create a Bitcoin stockpile in the United States.Trump Family Expands Crypto PurviewSince adopting a friendly stance towards Bitcoin and cryptocurrency, Trump and his family have relentlessly increased exposure to the industry. First, the president promised to make America the crypto capital of the world, attracting funding and support from the sector.Furthermore, Trump and his sons launched World Liberty Financial (WLFI), a decentralized finance enterprise that vowed to disrupt the traditional banking system. Meanwhile, the family recently announced plans to launch a crypto exchange-traded fund (ETF) and issue stablecoins.Donald Trump Jr. reiterated the familys unwavering support for the industry. He noted that while buying Bitcoin is just half the story, mining the premier asset opens up further opportunities for the enterprise and the American people.Eric Trump will serve as American Bitcoins chief strategy officer, while Matt Prusak, Hut8s former chief commercial officer, will be its CEO. Moreover, he revealed that the miner plans to go public in the future.

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Why March 7 Is Crucial for Bitcoin and the Broader Crypto Market

Despite optimism sparked over the weekend, Bitcoin and the broader crypto market may still face significant turbulence in the short term.After a rough month that saw Bitcoin and most crypto assets touch new year-to-date (YTD) lows, renewed crypto reserve optimism sparked by weekend statements from President Donald Trump has sent prices soaring again, quickly reversing the negative sentiment.Despite this fresh optimism, the crypto market may still face significant hurdles in the short term and Friday, March 7, perhaps, is the most significant date to watch.For one, on March 7, the U.S. is set to release key employment data for February 2025, which include the non-farm payroll and unemployment rate, and Federal Reserve Chair Jerome Powell is expected to speak. The data releases and Powell's speech will likely indicate whether or not near-interest rate cuts are on the table. Per TRADING ECONOMICS data at the time of writing, the U.S. is expected to have added 153,000 jobs in February 2025, up from 143,000 in January 2025. On the other hand, the unemployment rate is expected to remain unchanged at 4.0%. Still, on March 7, Trump will host the first-ever White House crypto summit with market participants hoping for concrete outcomes.These events are likely to significantly impact price action, so the crypto market could experience some wild swings.Other factors that could impact the market this week include the implementation of Trump's tariffs on Canada and Mexico on March 4.While all these point to short-term turbulence, analysts remain significantly optimistic in the long term. In a Monday, March 3 note to investors, Standard Chartered Head of Digital Asset Research Geoffrey Kendrick asserted that the timing of Trump's crypto reserve statements points to "a Trump put for crypto" similar to a Fed put for stocks, suggesting that the president appears willing to step in to mitigate significant market downturns.Kendrick argued that this growing market belief could bolster investor confidence, allowing prices to edge upward. He also stated that it could improve the chances of U.S. states going ahead with their Bitcoin and crypto reserve plans."We have moved from selling rallies to buying dips. And hence I re-focus on my $500k BTC target," the analyst surmised.He had tipped Bitcoin to hit the $500,000 price point before Trump leaves office, bolstered by improved access and reduced volatility.Ahead of this week's uncertainties, Bitcoin continues to hold onto the majority of its weekend gains, trading at $92,600 at the time of writing.

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Donald Trump Grants Presidential Pardon to Arthur Hayes and Three Former BitMEX Execs

President Donald Trump has granted pardons to the three co-founders of the prominent crypto exchange, BitMEX, and a fourth high-ranking employee.The pro-crypto president granted pardon to BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed alongside Gregory Dwyer, the former head of business development, media outlet CNBC reported. The four BitMEX employees pleaded guilty to one count of violating the Bank Secrecy Act in 2020, each receiving different punishments.However, Trump has exempted them from the repercussions of the criminal sentencing on Thursday, adding to the list of crypto-related pardons from the president. Notably, such clemency does not erase records of the wrongdoing but erases all corporate penalties tied to the pardoned offense.BitMEX Employees Receive PardonThe Commodity Futures Trading Commission sued Hayes, Delo, and Reed in October 2020 for operating BitMEX without due licensing from the regulator. Under their leadership, the exchange also failed to implement crucial requirements like Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, allegedly making it a facilitator of criminal laundering activities.The trio pleaded guilty to the case, and federal prosecutors ordered them to pay a combined $30 million in civil penalties. Furthermore, they sentenced Hayes to six months of house arrest and two years of probation, while Delo and Reeds received 30 months and 18 months of probation, respectively.Meanwhile, the CFTC slammed Dwyer with a $150,000 fine and 18 months of probation. Subsequently, a federal court ordered BitMEX to pay a $100 million fine for the Bank Secrecy Act violation.Thank You POTUSThe presidential pardon sparked reactions from the involved individuals, who expressed appreciation. Hayes took to X to applaud Trumps forgiveness.Thank you POTUS, Hayes tweeted.https://twitter.com/CryptoHayes/status/1905717739517587555Moreover, Delo stated that the pardon vindicated the wrongful criminal indictment against him and other BitMEX founders. He insisted that Trump has righted a legal wrong done years ago from an obscure perspective.Thursday reports also confirmed that Trump pardoned Trevor Milton, the founder of electric truck manufacturer Nikola, for his criminal charges of breaking securities law. The president had earlier acquitted Silk Roads Ross Ulbricht, while parents of disgraced FTX founder Sam Bankman-Fried are vying for a similar pardon.

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Senator Warren Raises Concerns Over Trumps SEC Pick Atkins as He Reveals $6M Crypto Holdings

Senator Elizabeth Warren has raised ethical concerns over President Donald Trump's pick for Chair of the U.S. Securities and Exchange Commission (SEC), Paul Atkins. In a letter to Atkins ahead of his Senate confirmation hearing, Warren highlighted potential conflicts of interest from his financial ties to the crypto industry.Recall that Trump picked Paul Atkins as SEC Chair last December, a month after his election victory. Atkins, who previously served as a commissioner for the securities regulator between 2002 and 2008, has substantial holdings in the crypto sector. Atkins Holds $6M in Crypto-Related InvestmentsAccording to a report from Fortune, his financial disclosures reveal that he holds between $250,000 and $500,000 in equity in Anchorage Digital, a major crypto custodian, as well as call options in the BlackRock-backed firm Securitize. Additionally, he has a stake valued between $1 million and $5 million in Off the Chain Capital, an investment firm specializing in crypto assets.In her letter, Senator Warren argued that these financial interests alongside Atkins' history of advocating for pro-crypto policies could compromise his ability to enforce regulations impartially. She pointed out that the SEC chair must prioritize investor protection and market integrity, and questioned whether Atkins could do so while maintaining such significant personal stakes in the industry.Atkins and Wife's $588M PortfolioConcerns over Atkins' financial portfolio extend beyond the crypto sector. A Reuters report of his ethics documents revealed that Atkins and his wife Sarah Humphreys Atkins hold over $328 million in joint assets, with their combined fortune potentially exceeding $588 million. A large portion of their wealth comes from his wife's family, which co-founded Tamko, a major roofing materials company. Additionally, Atkins disclosed 32 positions in various entities, including family trusts, LLCs, and nonprofits.Warren also raised concerns about Atkins' professional background. His firm, Patomak Global Partners, has consulted for major corporations and government agencies, and is among the creditors in the bankruptcy filings of the failed crypto exchange FTX. Warren asked Atkins to provide details about his firm's work related to FTX and other crypto companies, given that the SEC has been investigating fraudulent activities within the industry.Role as Witness in SEC Legal CasesWarren's letter also called to attention Atkins' role as an expert witness in legal cases involving companies targeted by SEC enforcement actions. As Reuters reported, he has provided testimony for firms such as JPMorgan and Virtu Financial, which have faced regulatory scrutiny. Warren argued that this history raises more concerns about whether he would act in the public's best interest or favor industry players with whom he has professional ties.Notably, to address the ethical concerns, Atkins has pledged to divest from Off the Chain Capital within 120 days of his confirmation, according to a filing with the Office of Government Ethics. He has also resigned from positions at the Digital Chamber of Commerce and the Token Alliance of the Chamber of Digital Commerce. His spokesperson stated that he would consult the SEC's ethics officer and comply with all governing regulations if confirmed.However, Warren has maintained skepticism, asserting in her letter that divestment alone does not eliminate the appearance of impropriety. According to her, "the SEC chair must serve the public, not their own financial interests." She also called for additional transparency regarding Atkins' past involvement with crypto firms, arguing that "Americans deserve an SEC that is free from undue influence and conflicts of interest."Atkins is set to appear before the Senate for his confirmation hearing on Thursday, where lawmakers will scrutinize his financial disclosures and policy positions. Senator Warren had also raised concerns about Crypto Czar David Sacks regarding his crypto portfolio.Meanwhile, the SEC, now temporarily overseen by Mark Uyeda, has been rather favorable to the crypto industry, dismissing several cases against crypto firms like Coinbase and most recently, Ripple. Most industry experts expect Atkins to continue in this manner.

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Whale Loses $207K Trying To Trade Presidents Endorsement of His Memecoin TRUMP

A crypto whale who previously made $108 million on the President Donald Trump-linked memecoin Official Trump (TRUMP) has been burnt trying to replicate his success.On Monday, March 24, crypto smart money tracker Lookonchain reported that this whale, who had made $108 million from a $1 million investment in TRUMP at its launch, had lost $207,000 trying to trade the memecoin again over the weekend.Specifically, the whale purchased over 400,000 TRUMP for $5 million only to exit the trade with just above $4.79 million an hour later.https://twitter.com/lookonchain/status/1903989438793093315 The loss comes as the trader appeared to try to profit off an endorsement from the president on Sunday, March 23. In a Truth Social post on the day, Trump asserted that he loved the memecoin, adding that it was "The Greatest of them all!!!!!!!!!!!!!!"Screenshot of Trumps Truth Social post. Source: Truth SocialScreenshot of Trump's Truth Social post. Source: Truth SocialThe post sent the token 14% higher within an hour, from just below $11 to nearly $12.5. However, the rally was short-lived as the token fell to near $11 again two hours later.The price action underscores the memecoin's price struggles following its record launch. For context, at current prices, it is down 85% from its all-time high of $78.Meanwhile, Trump's shilling of his memecoin no doubt adds to the list of ethical concerns surrounding the project, which allocates control of 80% of the token supply, about 800 million coins, to the president, albeit with a three-year vesting schedule of roughly 24 million coins per month.

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Odds of US Buying Bitcoin in 2025 Only 30%, Says Bloomberg Analyst

A Bloomberg analyst has urged investors to lower their expectations of the Trump administration buying Bitcoin in 2025.Beyond further legitimizing the asset, one of the main reasons Bitcoin proponents have been pushing for a U.S. reserve is the hope that the world power will actively participate in the market, with the significant demand boosting prices.While President Donald Trump has established a Bitcoin reserve through an executive order, whether the government will buy any fresh assets remains unclear. For context, the order establishes a reserve out of the government's holdings from seizures while directing the Secretary of Treasury and Secretary of Commerce to pursue "budget neutral strategies" to add to the stash. But what these strategies will entail remains anyone's guess.Amid these lingering questions, a Bloomberg analyst has urged investors to lower their expectations."Little Chance""30%."That's how much chance there is of the U.S. government adding to its Bitcoin reserve in 2025, according to a March 21 note from a Bloomberg legal analyst shared by Matt Sigel, Head of Digital Assets Research at VanEck.The analyst stressed that there is little chance the government would purchase Bitcoin or any other crypto asset for its reserve in 2025. If President Trump had wanted to, he could have done so through mechanisms like the Exchange Stabilization Fund.This $39 billion fund is available to the Secretary of the Treasury and can be used for a variety of purposes, including stabilizing the dollar or offering foreign aid.The analyst also argued that going through Congress was unlikely to yield any result until at least the mid-term elections in 2026. They stressed that any present bills to codify Trump's executive order "are mostly symbolic and unlikely to become law."This stance is likely based on the Republican party's slim majority in Congress and expected opposition from Democrats. In a March 13 letter, a group of House Democrats urged the Secretary of the Treasury, Scott Bessent, to cease all efforts to establish Trump's Bitcoin strategic reserve, criticizing it as an attempt to benefit donors.However, not all analysts share the pessimism of the Bloomberg legal analyst.VanEck Puts Bitcoin Odds Higher"I think we are closer to 50-60%," VanEck's Matt Sigel asserted in response to a question about where he placed the odds of the U.S. government adding to the Trump-established Bitcoin reserve in 2025.The recent debate comes even as Bo Hines, the executive director of the president's crypto working group, continues to offer hope to Bitcoin proponents. In a recent interview with Crypto In America host Eleanor Terrett, Hines asserted that there have already been "countless ideas" for the government to add to its Bitcoin reserve, noting that "the best ideas" will be implemented.

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Trumps USAID Overhaul Could Include Blockchain for Increased Transparency

The President Donald Trump administration is reportedly considering the use of blockchain technology in USAID procurement.From placing staff on administrative leave to massive layoffs, it is clear that the Trump administration intends to implement significant changes at the U.S. Agency for International Development (USAID). Now, recent reports suggest that this plan may include blockchain technology.On Wednesday, March 19, POLITICO reported that Trump administration officials have crafted a proposal to bolster USAID's efficiency to better advance the U.S. foreign policy agenda and counter China's foreign policy advances, citing a 13-page memo reportedly circulating within the agency.Among other things, the memo proposes changing the agency's name to the U.S. Agency for International Humanitarian Assistance (IHA), placing the agency under the oversight of the Secretary of State, and utilizing blockchain technology in its procurement processes.The memo claims that this move will make the process more performance-based by significantly improving security, transparency, and traceability.Meanwhile, the memo did not specify whether this will leverage cryptocurrencies for payments or simply use a blockchain to track cash flows.The memo comes as Elon Musk, head of the Trump administration-established Department of Government Efficiency (D.O.G.E.), has long toyed with the idea of putting some government processes onto the blockchain.In January, speculation that the Tesla boss was considering the Movement blockchain for this purpose sent its native token, MOVE, soaring.Nonetheless, USAID changes, like those proposed in the recent memo, including efforts to leverage blockchain in procurements, will likely require Congressional approval, as the memo itself admits.Getting Congressional approval, however, could prove difficult, as Republicans hold only a narrow majority.

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Donald Trump Media Execs Launch SPAC to Raise $179M for Crypto-Related Acquisitions

Three senior officials from Trump Media & Technology Group (TMTG) have filed with the SEC to raise $179 million for a new crypto-focused SPAC. Dubbed Renatus Tactical Acquisition Corp I, the blank-check SPAC was created to target U.S.-based businesses with high growth potential.According to the filing, Renatus will target businesses in three industries: blockchain and cryptocurrency, dual-use technologies, and data security.Renatus Seeks to Raise $179M As part of its fundraising effort, the company filed with the SEC to raise $178.9 million through a private placement and IPO.Specifically, it plans to offer 17.5 million public shares, with each sold at $10. Similarly, the SPAC will issue approximately 3.95 million warrants through a private placement at $1 each.The funds raised through these offers will be used to acquire or merge with other businesses related to crypto, data security, and dual-use technologies. Besides businesses in these sectors, Renatus plans to pursue interests in other key areas as well. TMTG Ties Renatus has strong ties to TMTG, a media company co-founded by U.S. President Donald Trump in 2021. It operates the Truth Social media platform, which Trump has utilized to make special announcements since his inauguration. According to the filing, Renatus' leaders are strongly affiliated with TMTG. For instance, Devin Nunes, the CEO of TMTG, would serve as the chairman of the SPAC board. The SPACs CEO, Eric Swider, is a board member of TMTG, while COO Alexander Canoo previously held a leadership position at Trumps media company. Renatus expressed concerns that some third parties may decline to engage with it due to its affiliation with TMTG and President Trump.Trump Pro-Crypto Initiatives Meanwhile, the development comes as the Trump administration seeks to introduce pro-crypto regulations to position the United States as the industry's global leader. Since his inauguration, Trump has made major moves to make the U.S. the crypto capital of the world. This includes creating a presidential working group to develop a crypto regulatory framework at the federal level, appointing several pro-crypto advocates to key positions like the SEC Chair, and establishing a strategic Bitcoin reserve and digital asset stockpile. In the filing, Renatus mentioned the federal governments effort to integrate digital assets into the countrys financial strategy.

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Trump To Make Major Crypto Policy Announcement in Digital Asset Summit Address

President Donald Trump is set to make a major crypto policy announcement, according to reports from Crypto in America host Eleanor Terrett.

Specifically, Trump is expected to disclose his U.S. crypto policy next steps in an address at Blockworks' Digital Asset Summit in New York.

On Wednesday, Blockworks confirmed that Trump would address summit attendees via a recorded message at 10:40 a.m. ET on Thursday, March 20. This will make him the first sitting U.S. president to address a crypto conference.

However, the specifics of the president's planned address remain sparse. 

Since becoming president, Trump has repeatedly asserted that he wants the U.S. to be the leader in crypto. To this end, he has already signed two crypto executive orders. One established a crypto working group to get the ball rolling on regulations, and another to establish a strategic Bitcoin reserve and digital asset stockpile. 

Meanwhile, recent reports suggest that the president may be considering yet another executive order. This time, the order will address so-called crypto de-banking, which refers to hurdles the crypto industry has faced accessing banking services.

Trump's Digital Asset Summit address follows the appearance of Bo Hines, the Executive Director of the White House's President's Council of Advisers on Digital Assets, at the event. 

At the event on Tuesday, March 18, Hines reaffirmed the Trump administration's desire to amass Bitcoin for its recently announced reserve, stating that the government wanted as much Bitcoin as it could get.

While Trump is set to become the first sitting president to address a crypto conference, it is not his first time addressing one. In July 2024, he spoke at the 2024 Bitcoin conference while on the campaign trail. It was at this conference that he first disclosed his Bitcoin reserve plans.

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Crypto Firms Are Eying Bank Charters Under Trump: Report

Several crypto firms are looking to become state or national banks under the Trump administration.Under the pro-crypto administration of President Donald Trump, the crypto industry hopes to achieve unprecedented growth, and one way industry participants may be exploring is by becoming banks.Crypto Firms Working on Bank Charter ApplicationsSeveral crypto firms are looking to become state or national banks under the Trump administration.This is according to a Tuesday, March 18, Reuters report citing over six anonymous executives and several regulatory lawyers.According to the latter, there has been an uptick in bank charter application discussions with clients "cautiously optimistic" of approval under Trump.With bank charters, these crypto firms hope to bolster their legitimacy in the eyes of customers and bring down certain operating costs. For one, borrowing will become much easier for these firms as they can just reach into customer deposits.While this transition carries what some might see as burdensome regulatory scrutiny and applications are notoriously slow to process, crypto firms are likely banking on Trump's pro-innovation stance to usher in a wave of deregulation.These firms have also likely been encouraged by statements from Trump's regulatory appointees. Specifically, Federal Deposit Insurance Corporation (FDIC) Acting Chair Travis Hill and Federal Reserve Governor and Trump nominee for vice chair for supervision have called for a more streamlined bank charter application process.The recent Reuters report follows reports that Trump is on the verge of signing an executive order to roll back rules that made it difficult for crypto firms to access banking services. These reports also suggested that the executive order will push the Federal Reserve to grant crypto banks master accounts.

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Research Platform Reveals Insiders Dumped TRUMP Token Before Crash

10x Research argues that insiders received the TRUMP token at the pre-inaugural Washington crypto ball before it became available for public trading.The research firm suggests that these early investors capitalized on the opportunity before major exchanges rushed to list the coin as its value surged past $60, briefly touching $70. However, the price soon collapsed to $10, leaving retail traders with billions in losses. This pattern mirrors previous speculative cycles, including the 2021 NFT boom and bust, where early participants benefited while later investors faced heavy losses.The TRUMP coin saw its value drop by 50% within a week. On-chain data revealed that early buyers quickly liquidated their holdings, using retail traders as exit liquidity.This sell-off significantly impacted the Solana meme coin sector, which had been driving substantial market activity. As a result, the downturn reinforced broader concerns about the volatility of speculative digital assets and the risks associated with hype-driven trading.Solana Ecosystem Tokens Face Heavy Selling PressureThe broader market downturn has also impacted key tokens within the Solana ecosystem. Raydiums RAY token, a major automated market maker, has seen a 70% price decline in just 30 days. Meanwhile, Jupiters JUP token, which operates as a decentralized exchange on Solana, has dropped by 42%. Likewise, Solanas SOL token has lost 41% over the same period. The rapid declines suggest a waning interest in speculative tokens linked to recent market trends.Pump.fun, a leading meme coin launch platform, has also seen a dramatic shift. Over the past year, it has facilitated 8.4 million meme coin launches, with activity peaking around President Donald Trumps inauguration. During the Christmas to inauguration period, 1.7 million meme coins were launched. However, daily launches have now dropped from 62,000 to 24,000. Despite lower meme coin creation costs due to Solanas price drop, participation has declined significantly.Pump.fun Slumps Back to HundredsAdding to the woes, Pump.funs revenue stream has suffered, with daily earnings plummeting to their lowest in seven months by March 8. Previously, Pump.fun maintained daily fees above $1 million. However, current data shows 24-hour fees and revenue at $108,124.Pump Fun Fees Vs RevenuePump Fun Fees Vs RevenueTrumps Bitcoin Reserve Order Raises QuestionsPresident Donald Trumps involvement in the crypto sector has continued to raise questions. Edward Farina, founder of Alpha Lions Academy, pointed out liquidity challenges, attributing part of the instability to Trumps engagement with the sector. Meanwhile, Trump has shifted focus toward Bitcoin, signing an executive order on March 6 to establish a strategic Bitcoin reserve for the United States. The order directs the Secretary of the Treasury and the Secretary of Commerce to develop budget-neutral strategies for acquiring Bitcoin. This condition aims to facilitate government Bitcoin purchases without incurring costs for U.S. citizens, potentially reducing public opposition.In the days following the announcement, Bitcoins price experienced volatility, briefly falling below $77,000 before recovering. As of the latest data, Bitcoin is trading at $81,440, reflecting a 1.09% decline in the last 24 hours and a 3.04% decline over the past week.

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President Trump Reportedly on the Verge of Signing Executive Order to End Crypto Debanking

President Donald Trump is gearing up to sign an executive order to end crypto debanking.Since assuming office on January 20, President Donald Trump has already signed two crypto executive orders: one to establish a crypto working group to develop regulations and another to establish a strategic Bitcoin reserve and a digital asset stockpile. The president may now be warming up his pen for a third.Trump Sets Sights on Crypto DebankingPresident Donald Trump is gearing up to sign an executive order to roll back rules that made it difficult for crypto firms and executives to access banking services, known as crypto debanking or Operation Chokepoint 2.0.This is according to Monday, March 10 reports citing White House officials.It is not the first time Trump has been reported to be considering such a move. In January 2025, The Washington Post suggested that the president would attempt to tackle crypto debanking with an executive order immediately after he assumed office, citing it as a priority. However, this did not materialize.The most recent report indicates that one of the executive order's provisions will push for crypto banks to be granted Federal Reserve master accounts. These accounts are critical to banks' ability to serve customers nationwide as they offer access to Fed services like settlement and electronic transfers. However, prominent crypto banks like Custodia have long had efforts to secure these accounts rebuffed.Custodia, for one, has taken the Federal Reserve to court over the issue.Meanwhile, the expected crypto executive order may go beyond debanking to state that stablecoins should not be classified as securities.Both provisions could significantly boost crypto adoption by making it easier for platforms like exchanges to provide familiar on/off-ramp services.The recent report follows the White House crypto summit held on Friday, March 7, at which Trump met with several industry executives to discuss crypto policy.

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Donald Trump to Host First Ever White House Crypto Summit

A Friday press release shows that Donald Trump will host the first-ever crypto summit in the White House, further deepening his ties with the industry.Prominent FOX Business journalist Eleanor Terrett confirmed this development, marking a new dispensation for cryptocurrency and blockchain technology in the United States. Terrett's X post stated that the maiden White House congregation would happen on Friday, March 7.Trump's White House Crypto SubmitNotably, Donald Trump will preside over and deliver remarks at the pro-crypto gathering, a showing of his commitment to the digital asset industry. Also, key industry players, including CEOs, prominent crypto founders, and the White House crypto working group, will attend.Donald Trump to Host Industry LeadersIn his first week in office, Trump signed an executive order to make America the crypto capital of the world. While he has delivered some of his campaign promises to the nascent industry, the March 7 gathering further stomps his renewed commitment to seeing the sector thrive in the United States.The White House crypto summit is the first of its kind and will draw the crypto industry closer to the presidency. Trumps crypto and AI czar, David Sacks, and the working group executive director, Bo Hines, will also lead the star-studded gathering.Meanwhile, the summit's theme was unannounced, leaving the community to speculate. Nonetheless, industry enthusiasts expect crucial discussions on crypto regulation, institutional adoption, stablecoins, and the creation of a US Bitcoin stockpile.Trumps Relentless Commitment to BitcoinThe 47th US president has made a remarkable turnaround in his disposition towards Bitcoin and digital assets. He kicked against the industry in his first tenure, branding the pioneering cryptocurrency as a scam.However, Trump has shown commitment to cryptocurrency in his second tenure, promising to enable the industry to thrive under his administration. He also proposed a national Bitcoin reserve, suggesting the impressively performing asset could help pay Americas growing debt.Furthermore, Trumps cabinet picks have reflected his allegiance to the digital asset industry. His choice of Treasury Secretary, crypto czar, and Health Secretary, among others, demonstrates his crypto warm embrace.Most recently, he launched an official meme coin, the Official Trump (TRUMP), sparking both enthusiasm and severe backlash from the global community.

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