When Crypto leaders gathered at a white house summit on Friday and officials managed the plans for a cryptor reserve, there was a big winner: Bitcoin.
In a Sunday, March 2, social media message, President Trump had outlined a reserve plan to include Eth, Sun, ADA and XRP with BTC. But on Thursday evening, March 6, when he signed an executive order on the reserve, this plan had changed. Now Bitcoin gets its own reserve and other coins will be referred to a separate “stock.” Regulatory reporter Jesse Hamilton led our cover from Washington DC
Volte-Face came after the high industry’s reaction to Trump’s Sunday plan, which may have influenced decision making. Many Bitcoiners complained that BTC would be diluted with minor-cap coins and that Bitcoin has unique features such as “digital gold” where other projects do not. In the end, the White House seemed to agree. Ada, Sol and XRP, after being bent by the Sunday announcement, all fell on the news per. Reporting from Coindesk’s Kris Sandor and Cheyenne Ligon.
There was other good news for the leading cryptocurrency. President Nayib Bukele said El Salvador would continue to buy BTC, even after an IMF agreement that seemed to be scotting this mission, Coindesk’s Tom Carreras reported. Texas adopted a bill to set up his own Bitcoin Reserve, which led about 20 other states considering the same, Hamilton reported. Fold added 475 BTC, which became a top-10 public bitcoin finance ministry, James van Straten wrote.
Lombard Finance said it would implement its liquid Bitcoin token, LBTC, at Sui, elaborating on Bitcoin’s Vollgrav in crypto markets. Coindesk’s Francisco Rodrigues had that news. (Meanwhile, SUIS native token was added to the Trump-owned World Liberty Financial Asset Reserve, which increased its price.)
Danny Nelson had the scoop of the week: News that the DoubleZero Foundation, a Stealthy Startup, which is building a “new internet” for the purpose of improving the blockchain benefit had collected $ 28 million for a valuation of $ 400 million (it is now looking for more investments.)
In other news, Sam Bankman-Fred spoke with Tucker Carlson from his prison cell, another stop on his media play to win a presidential pardon. When an enthusiastic backman of democratic election candidates, SBF now seems to be on the GOP side. We will have to see if his outreach will pay dividends in the coming weeks.
