English

NewsBriefs - Coinbase exec says Trump's Strategic Bitcoin Reserve could remove about $18 billion of sell-side pressure

Editor-curated news, summarized by AI

  • The Block

    Coinbase exec says Trump's Strategic Bitcoin Reserve could remove about $18 billion of sell-side pressure

    A Coinbase executive claimed that the recently signed executive order by US President Donald Trump to establish a Strategic Bitcoin Reserve will alleviate significant sell-side pressure by offloading approximately $18 billion worth of Bitcoin from potential market sales. This plan involves utilizing Bitcoin previously seized by the federal government, ensuring these crypto assets are stored securely, akin to a digital Fort Knox, rather than sold on the open market.

    The Block

    • Latest

    • Bitcoin Sistemi

      White House official X account promotes Bitcoin as US superpower

      A post on the White House's official X account declared America as the world's Bitcoin superpower and featured US President Donald Trump signing the Bitcoin Strategic Reserve Executive Order. This Bitcoin-endorsing post, along with a photograph including cryptocurrency and artificial intelligence chief David Sacks, sparked criticism from economist Peter Schiff, who questioned the appropriateness of using presidential office resources for promoting crypto interests.

      Expand
      Bitcoin Sistemi

    • The Block

      President Trump pushes for stablecoin bills before August and aims to end crypto debanking

      President Donald Trump aims to have stablecoin legislation on his desk by August, as expressed at the first White House crypto summit. The summit involved key players from the crypto industry and government officials. Trump also plans to end Operation Choke Point 2.0, which has affected crypto companies' banking capabilities in the US. Additionally, Trump signed an executive order establishing a strategic bitcoin reserve funded by seized assets, addressing initiatives for a digital asset stockpile which does not involve additional crypto purchases by the government.

      Expand
      The Block

    • Bloomberg

      Nasdaq announces plans for 24-hour trading in 2026

      Nasdaq is set to introduce 24-hour trading on its equities exchange by the second half of 2026, pending necessary regulatory approvals and industry alignment. This move aims to cater to growing global demand for US stocks and follows similar initiatives by other exchanges like Cboe and the New York Stock Exchange. Despite concerns about increased volatility and transaction costs due to extended hours, Nasdaq plans to collaborate with industry participants to address these challenges and improve investor confidence in US capital markets.

      Expand
      Bloomberg

    • The Block

      Senator Elizabeth Warren demands public disclosures from David Sacks amid crypto policy development

      Senator Elizabeth Warren requested David Sacks, assigned as President Trump's crypto chief, to publicly reveal any financial disclosures filed with the government to address potential conflicts of interest. This comes in light of recent orders by Trump to establish a US Strategic Bitcoin Reserve and to start establishing crypto policies potentially impacting the market. Concerns revolve around selectively inflating crypto values and lax enforcement on crypto regulations. Sacks has denied holding significant indirect crypto assets and confirmed selling all his cryptocurrency investments, citing his commitment to transparency amidst ongoing official ethics review.

      Expand
      The Block

    • White House

      President Trump establishes the Strategic Bitcoin Reserve and US Digital Asset Stockpile

      President Donald J. Trump signed an Executive Order to create a Strategic Bitcoin Reserve and a US Digital Asset Stockpile, aiming to position the US as a leader in governmental crypto strategy. This reserve will treat bitcoin as a reserve asset and retain bitcoins from forfeiture proceedings, without selling them. Additional bitcoin acquisitions will occur without extra taxpayer costs. The US Digital Asset Stockpile will hold other digital assets obtained through forfeiture, with the Treasury having authority over potential sales. This action centralizes the management of seized crypto assets, aiming for enhanced national wealth and protection.

      Expand

    • The Block

      Coinbase exec says Trump's Strategic Bitcoin Reserve could remove about $18 billion of sell-side pressure

      A Coinbase executive claimed that the recently signed executive order by US President Donald Trump to establish a Strategic Bitcoin Reserve will alleviate significant sell-side pressure by offloading approximately $18 billion worth of Bitcoin from potential market sales. This plan involves utilizing Bitcoin previously seized by the federal government, ensuring these crypto assets are stored securely, akin to a digital Fort Knox, rather than sold on the open market.

      Expand
      The Block

    • YZi Labs

      YZi Labs invests in Tensorplex Labs to accelerate decentralized AI development

      YZi Labs has invested in Tensorplex Labs to boost advancements in decentralized AI. Tensorplex, focused on integrating AI with blockchain, is expanding its capabilities in AI model training, infrastructure, and tools such as Tensorplex Dojo and Backprop Finance. This strategic investment will help Tensorplex scale its operations, accelerate R&D, and enhance the collaboration between humans and AI, aiming to democratize AI technology.

      Expand

    • Serpro

      Cardano Foundation partners with Brazil's largest public IT firm to boost blockchain education

      Serpro, Brazil's largest public IT company, has entered into a Technical Cooperation Agreement with the Cardano Foundation to train its employees in blockchain technology. This partnership aims to increase the adoption of blockchain within the Brazilian public sector to enhance efficiency, strengthen fraud prevention, and integrate the technology into government services. The collaboration includes access to the Cardano Academy and initiatives for innovation and applied blockchain research.

      Expand

    • The Block

      Sam Altman's World project adds chat and crypto payments

      Sam Altman's World project, also known as World App, has introduced chat and crypto payment functionalities, enhancing its super app features and user verification system. With these additions, users can verify their interactions with authentic individuals through a unique World ID. Facilitated by the World App's integrated wallet, these features allow seamless crypto transactions akin to sending multimedia. The platform currently boasts over 24 million users, including more than 11 million verified as genuine humans.

      Expand
      The Block

    • The Block

      Bitwise to offer DeFi investment opportunities to institutional clients

      Bitwise, a cryptocurrency index fund manager, has partnered with Maple Finance to offer its institutional clients access to compliant, onchain credit and DeFi investment opportunities. This partnership represents a significant shift as institutional investors increasingly explore onchain credit options tailored to their risk profiles, expanding beyond traditional fixed-income products. The collaboration aims to provide structured, transparent, and yield-generating opportunities as part of a wider trend of capital inflow to digital assets.

      Expand
      The Block

    • The Block

      Trump-backed World Liberty Financial boosts crypto holdings with $21.5 million in ETH, WBTC, and MOVE

      World Liberty Financial, a decentralized finance entity with ties to President Donald Trump, has expanded its crypto holdings ahead of the White House Crypto Summit. The venture acquired significant amounts of ether, Wrapped Bitcoin (WBTC), and MOVE, totaling approximately $21.5 million. This strategic move comes as the summit is set to discuss the future of crypto regulation and the establishment of a US strategic crypto reserve.

      Expand
      The Block

    • CoinDesk

      Texas moves forward with plan to add Bitcoin to public fund investments

      Texas has taken a significant step by passing the SB 21 bill, which allows the state to invest public funds in digital assets like Bitcoin. This move positions Texas as a leader among various US states exploring similar investments, influenced by President Trump's push for a national strategic crypto reserve. Other states, like New Hampshire, are also progressing with legislation to invest in digital assets.

      Expand
      CoinDesk

    • The Block

      Bitwise registers with the SEC for an Aptos ETF amidst rising altcoin fund interests

      Bitwise has filed an S-1 registration with the US Securities and Exchange Commission for a spot Aptos exchange-traded fund (ETF), named Bitwise Aptos ETF. This move is part of a broader trend as Bitwise is also pushing to launch ETFs based on other cryptos like Dogecoin and XRP. The filing indicates growing interest and government openness towards altcoin-based ETFs in the crypto market.

      Expand
      The Block

    • The Block

      Noble launches yield-paying USDN stablecoin on Cosmos network

      Noble has officially launched its yield-paying USDN stablecoin. The stablecoin rewards holders with proceeds derived from short-duration US Treasurys, a shift from typical fiat-pegged stablecoins that benefit corporate entities. USDN offers an approximately 4.15% APY, adjustable based on Treasury collateral. Initially, USDN is supported by Keplr Wallet and purchasable via Moonpay.

      Expand
      The Block

    • The Block

      Flowdesk secures $102 million in funding to expand crypto services

      Flowdesk, a France-based crypto trading firm, raised $102 million through a combination of equity and debt to enhance its services, led by HV Capital. The funding, mostly equity, will support the firm's expansion in tokenization, OTC derivatives, and establishment of a crypto credit desk, amidst a bullish crypto market. This move aims to scale Flowdesk's operations and presence globally, including a planned workforce expansion and new office in the United Arab Emirates.

      Expand
      The Block