Bitcoin Granted Special Reserve Status Amid White House Summit
During a recent White House Summit, Bitcoin emerged as the primary beneficiary of new regulatory developments regarding a Crypto Reserve. Key points include:
- President Trump initially proposed a reserve including multiple cryptocurrencies such as ETH, SOL, ADA, and XRP.
- By March 6, the plan shifted to establish a dedicated reserve for Bitcoin, with other cryptocurrencies placed in a separate stockpile.
- This decision followed significant industry pushback against including Bitcoin with lesser-cap coins.
- El Salvador's President Bukele confirmed ongoing BTC purchases despite an IMF deal that could have halted them.
- Texas passed a bill to create its own Bitcoin Reserve, prompting interest from around 20 other states.
- Fold added 475 BTC to its treasury, ranking among the top 10 public bitcoin treasuries.
- Lombard Finance plans to launch a liquid-staking bitcoin token, LBTC, on Sui, enhancing Bitcoin’s market position.
- DoubleZero Foundation secured $28 million in funding at a $400 million valuation to develop a new blockchain-based internet.
- Sam Bankman-Fried discussed his situation from prison, attempting to align with GOP interests for potential political favor.