Weekly | Trump signs executive order to build strategic Bitcoin reserves; White House: The United States will become the world's Bitcoin superpower, and the golden age has begun; Metaplanet completes approximately $87 million in financing to increase
Reprinted from chaincatcher
03/09/2025·2MCompiled by: Luan Peng, ChainCatcher
“What important events happened this week (3.3-3.9)”
Coinbase co-founder and CEO Brian Armstrong commented on social media about the “Trump is advancing the cryptocurrency reserve program” that BTC may be the best choice in terms of asset allocation for strategic reserves, and as the successor of gold, BTC has the simplest and clearest narrative. If people want more types, market capitalization weighted indexes can be used to keep things fair. But it may be the easiest to choose only BTC.
2.The Australian government has no plans to establish a strategic reserve of cryptocurrency
According to Cointelegraph, the current Australian government said there is currently no plan to establish a strategic reserve of cryptocurrencies.
A spokesman for Australian Assistant Finance Minister and Financial Services Minister Stephen Jones told Cointelegraph that the Albany government is focusing on regulating digital asset platforms and is developing a regulatory framework suitable for digital assets.
Tom Matthews, head of corporate affairs at Australian exchange Swyftx, believes that while the idea of crypto reserves is popular, it can be "full of complexity" and can lead to concentrated risks for certain tokens. Kraken Australia managing director Jonathan Miller said cryptocurrencies have established their position as investment-grade assets.
French crypto market maker and liquidity provider Flowdesk completed a $52 million Series B additional financing, of which 80% were equity financing and about 20% ($10.2 million) were debt financing. The round of equity financing was led by European investment institution HV Capital, with Eurazeo, Cathay Innovation and ISAI VC participating, and the debt financing was partly provided by funds managed by BlackRock. HV Capital also won a board seat on Flowdesk this time.
Flowdesk plans to use this round of funding to expand its business, including launching a dedicated crypto credit business and setting up an office in the UAE. Debt financing is a strategic choice for the company to optimize its balance sheet while maintaining sustainable growth and avoid equity dilution. Flowdesk previously completed a $50 million Series B financing in January 2024, with a valuation of more than $250 million.
Flowdesk was established in 2020 and its main businesses cover market making, liquidity provision (including crypto ETFs), OTC trading, brokerage services and financial management.
4.Metaplanet completed approximately US$87 million in financing to increase its holdings in Bitcoin
According to the announcement of Metaplanet, the company completed the large-scale exercise of the 13th and 14th series of stock subscription rights through third-party targeted share issuances, with a total financing of approximately 12.97 billion yen (about 87 million US dollars).
This financing is backed by EVO FUND, and some funds have been used to redeem the previously issued 7th ordinary bonds in advance. Metaplanet plans to use the funds to continue to increase its holdings in Bitcoin to strengthen its digital asset investment strategy.
5.New York Times: Trump himself may be the winner of crypto strategic reserves
According to an analysis by The New York Times, Trump himself may be the winner of the strategic reserves of cryptocurrencies. His family's cryptocurrencies have been spent on millions of dollars to buy cryptocurrencies, and some of these cryptocurrencies may be included in the strategic reserves of the United States.
Cornell University economist Eswar Prasad added: "Trump's strategic crypto reserves are not rational and strategic, but they are good for Bitcoin holders at this stage, but they are definitely a bad thing for taxpayers."
Binance Lianchuang Zhao Changpeng posted on the X platform that it is simple to predict the crypto trend in the next 10 years, and it is difficult to predict tomorrow's trend.
Hong Kong Special Administrative Region Legislative Council member Wu Jiezhuang said, "There is no official issuance of coins in Hong Kong. Some citizens and Web3 practitioners have asked me about it. Some people pretend to be the Chief Executive and post a post on the X platform (launch of the National Hong Kong Coin) on the Solana chain. The government has solemnly clarified that the information is by no means a fact or intentional fraud. Please be careful not to mislead the fraud."
Previous news , Hong Kong Chief Executive Li Jiachao X's account was suspected to have been stolen and token-related content was released.
8.White House cryptocurrency head: Trump signs executive order to build strategic Bitcoin reserves
David Sacks, director of AI and cryptocurrency at White House, said, “Just a few minutes ago, President Trump signed an executive order to establish a strategic Bitcoin reserve. The reserve will capitalize on Bitcoin owned by the federal government, which is part of a criminal or civil asset forfeiture process. This means it won’t cost taxpayers a penny. The U.S. government is estimated to own about 200,000 bitcoins; however, no full audit has been conducted. The executive order requires a comprehensive accounting of the federal government’s digital asset holdings.
The United States will not sell any bitcoins deposited in reserves. It will be retained as a means of store of value. For cryptocurrencies commonly known as "digital gold", reserves are like digital Fort Knox. The premature sale of Bitcoin has caused more than $17 billion in losses to U.S. taxpayers. Now the federal government will develop a strategy to maximize the value of Bitcoin it holds.
The Treasury Secretary and Commerce Secretary are authorized to develop budget-neutral strategies to acquire more bitcoins, provided that these strategies do not bring incremental costs to U.S. taxpayers. In addition, the executive order also establishes a U.S. digital assets reserve that includes digital assets other than Bitcoin confiscated in criminal or civil lawsuits. The government will not acquire other assets for reserve assets except for the assets acquired through the confiscation process. The purpose of the reserve library is to manage government digital assets under the leadership of the Ministry of Finance.
From making commitments to delivering them, President Trump promised to build strategic Bitcoin reserves and digital asset reserves, which have now been fulfilled. The executive order underlines President Trump's determination to build the United States into the "world's cryptocurrency capital." I want to thank the President for his leadership and vision in supporting this cutting-edge technology and his quick action in supporting the digital asset industry. His government is indeed moving forward at a "technical speed".
I would also like to thank the President’s Digital Asset Markets Working Group – in particular, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick – for their help and support in completing this work. Finally, Bo Hines played a key role as the Executive Director of our Working Group. ”
Binance releases its March 2025 reserve certificate. As of March 1, the Binance platform's BTC reserve ratio reached 100.77%, the ETH reserve ratio was 100.00%, the USDT reserve ratio reached 104.42%, and the BNB reserve ratio reached 110.92%.
In addition, Binance Reserves prove that the new TRUMP currency was added this time, and the reserve ratio reached 100.38%. Binance reserves have covered 35 tokens so far, with reserve ratios exceeding 100%.
10.Binance applies monitoring tags to GoPlus Security (GPS)
According to Binance announcement, Binance will impose monitoring tags on GoPlus Security (GPS) on March 7, 2025.
Previously, GPS experienced a significant price drop after its spot listing and involved market making.
Zhao Changpeng responded to community users on the X platform and said that he did not know how the Binance voting listed and down currency co-governance mechanism will be classified. Voting based on the number of users is beneficial to large communities, and voting by value is beneficial to giant whales and large holdings. In any case, there will always be complaints about down currency in the community.
ChainCatcher previously reported that according to Binance announcement, Binance will optimize the currency listing mechanism and add a new community governance model of "voting listing" and "voting listing" to give users more decision-making power, and at the same time, it will not make profits from listed coins, and will announce project marketing expenses and batch airdrop tokens.
12.David Sacks: ADA, SOL, XRP were mentioned only because of its top five market capitalization
According to Aggr News, David Sacks, head of crypto policy at the Trump administration, said Cardano (ADA), Solana (SOL) and XRP were mentioned in the discussion of strategic bitcoin reserves and digital asset reserves only because their market value ranks in the top five and have no special preferences or policy tendencies.
13.Powell: Don't rush to cut interest rates until the impact of Trump's policy is further clarified
Federal Reserve Chairman Powell said there will be no rush to cut interest rates until he waits for further clarity in Trump's new administration's policies to affect the economy.
"The new administration is implementing major policy changes in four different areas: trade, immigration, fiscal policy and regulation. The uncertainty surrounding these changes and the impact they may have remained high. Our focus is to differentiate signals from noise as the outlook changes. We don't have to worry and be fully capable of waiting for a clearer outlook."
Although Powell said the economy "continues to be in good shape", the data also suggests that consumer spending may slow and companies and companies have “increased uncertainty about the economic outlook.” Powell added that key indicators remain solid, and progress on the rise in inflation and employment continues to rise, although unevenly, is still ongoing.
14.Trump: Treasury and Commerce will explore new ways to accumulate more Bitcoin
U.S. President Trump said at the White House crypto summit that the Treasury and Commerce Department will explore new ways to accumulate more bitcoins for reserves and do not want taxpayers to pay any price. He will order federal agencies to take stock of the digital assets currently held by the U.S. government and determine how to transfer them to the Treasury Department, which will be kept in a new U.S. digital assets.
15.Coinbase Add Aethir (ATH) and Syrup (SYRUP) to the Coin Roadmap
Coinbase has issued an announcement on the X platform that it has added Aethir (ATH) and Syrup (SYRUP) to the currency roadmap.
According to the Paper, Ying Yong, the Procurator General of the Supreme People's Procuratorate, delivered a work report on the Supreme People's Procuratorate at the Third Session of the 14th National People's Congress. In 2024, the procuratorate prosecuted 825 people in securities crimes such as financial fraud and insider trading, and prosecuted 3,032 people in money laundering crimes such as using "virtual currency" to transfer criminal proceeds.
Omer (@demirelo), a former director of the Avalanche Foundation, issued a statement on X social platform, saying that it confirmed that three directors, including Aytunç Yildizli and Vikram Nagrani, had officially resigned from the board of directors of the foundation and its subsidiaries earlier this week.
Among them, Executive Director Aytunç Yildizli stopped performing his duties on February 28, 2025, and the board of directors has been on the wait-and-see state since then, trying to find a way forward.
"I, along with Aytunç Yildizli and Vikram Nagrani, have promoted several important tasks over the past 18 months of tenure, including building the brand image of the Avalanche Foundation, releasing its first annual report, launching incentive programs such as infraBUIDL () and infraBUIDL (AI), and developing AiFRED projects, are also committed to strengthening internal coordination of the ecosystem and shifting growth strategic focus to new market development and strategic cooperation. This collective voluntary resignation decision is "deliberate" and will continue to focus on the development of the Avalanche ecosystem in the future, and wish the Avalanche ecosystem and the community all the best."
Two subsidiaries of Robinhood Markets Inc. have agreed to pay $26 million to settle charges filed by the U.S. Financial Industry Regulatory Agency (FINRA), Bloomberg reported. FINRA accused Robinhood of failing to respond to warning signs of potential misconduct and failing to verify the identity of thousands of customers.
The brokerage industry regulator's fine follows another $45 million settlement reached by Robinhood Securities and Robinhood Financial with the Securities and Exchange Commission in January. The SEC accused the retail trading company of failing to keep records, failing to report suspicious activity on time, and other issues.
In the settlement, the two companies accepted the FINRA investigation results but neither acknowledged nor denied the allegations and agreed to promise that the relevant issues had been rectified.
The official account of the White House of the United States posted, "The United States will become the world's Bitcoin superpower. The golden age of the United States has begun!"
Crypto KOL Ansem (@blknoiz06) posted on the X platform: "I think Ye is one of the few people in the world who have enough influence to substantially influence the way cryptocurrencies go mainstream, and there are many unique and novel ways to integrate cryptocurrencies into his existing network."
Ansem revealed details about discussing cryptocurrencies with Ye, “Seriously, Ye showed a sincere interest in learning cryptocurrencies and how they work, and 99% of outsiders wouldn’t even care about the level of asking questions.” Responding to user comments, Ansem said: “He did experience banning on different social and financial applications, which is impossible for services built on cryptocurrency infrastructure.”
Previous news , the well-known rapper Kanye posted a message saying that he is learning Bitcoin-related knowledge from the crypto KOL Ansem.
“What are some great articles worth reading this week (3.3-3.9)”
Last August, a rapid and huge sell-off from Jump Trading pushed the crypto market into the abyss, further triggering a "805 plunge". At that time, rumors about Jump's "this big guy" was about to fall were getting worse.
In the following six months, almost all the few news about Jump revolved around its internal and external litigation and lawsuits.
Recently, CoinDesk quoted people familiar with the matter as saying that Jump is currently fully resuming its cryptocurrency business. Jump Trading's official website shows that Jump is recruiting a group of cryptocurrency engineers for its offices in Chicago, Sydney, Singapore and London . In addition, another person familiar with the matter added that Jump plans to start supplementing U.S. policy and government liaison positions in due course.
Jump was once called the "absolute king" of the trading world. With ultra-low latency trading systems and complex algorithm design, Jump is one of the key liquidity providers in traditional finance. As the scale of the crypto market continues to expand, Jump began to make markets for cryptocurrencies and invest in crypto projects. Later, it officially established the crypto business department Jump Crypto in 2021.
However, a bet that accompanied Jump Crypto's birth also laid hidden dangers for its subsequent tragedy at that time.
In the early morning of this day, the White House crypto summit officially kicked off, and the White House officially provided a 25-minute live summit broadcast. Although the outside world has high expectations for the summit, the live broadcast did not disclose new policies or major information.
US President Trump's speech at the summit was relatively brief, and he appeared more as the opening host. Most of the speeches of the participants were polite expressions, focusing on the progress of the Trump administration's crypto policy after it came to power and support for Trump himself.
Although the summit lacks substantial policy updates, the market remains closely watching the potential signals behind it. This article will sort out all the information worth paying attention to in the summit and focus on the interview with David Sacks, former White House AI and encryption director.
3.Full of game, there are eight highlights in the White House Crypto Summit 6 hours later
Although Trump has signed an executive order on Bitcoin strategic reserves, more details are not yet determined, and the market has a significant difference in its impact on its future market. This also makes the White House crypto summit a few hours later and 4 hours full of highlights. (Note: Closed-door meeting from 2:30 am to 6:30 am on March 8)
With the non-agricultural employment data to be released at 9:30 tonight, the crypto market is destined to be full of game, and it is undoubtedly another sleepless night for the Chinese crypto community. This article sorts out important topics or predictions for tonight's White House Crypto Summit as a reference before the meeting.
4.Revealing the history of Tether's fortune: Undercurrents and trading techniques in the crypto market
The article is compiled from Zeke Faux's book "Number Go Up". Zeke Faux began to delve into and investigate Tether (USDT) due to his strong interest in cryptocurrencies, and finally wrote this book that reveals in detail the manipulation behind Tether and its impact on the crypto market.
This compilation compiled the original text, mainly involving the rise of Giancarlo Devasini in the global crypto market by operating the Tether stablecoin USDT. Although Tether initially promised to support it with a 1:1 US dollar reserve, it has been frequently questioned by regulatory authorities due to opaque capital flows, frequent additional issuances, and experience of hacking incidents and mysterious fund operations. It has become an illegal fund transfer tool in Southeast Asia. However, it is still promoting projects such as the Bitcoin bond program to continuously expand its business territory.
5.Optimists cheer, pessimists worry: How does the market view the US crypto strategic reserves?
This morning, President Trump signed an executive order to establish strategic Bitcoin reserves and US digital assets reserves.
White House AI and crypto czar David Sacks pointed out that over the past decade, the U.S. government has sold about 1.95 million bitcoins, earning only $366 million. If these Bitcoins are held for a long time, their current value has exceeded US$17 billion.
Sacks said bluntly: “This is the price that American taxpayers do not have a long-term strategy!”
So, how exactly does the strategic reserve of cryptocurrency work? How will this policy affect the market? Let's take a look at different interpretations of the market.
6.Fire the first shot of community rights protection! RedStone's coin listing storm begins and ends
Just today, RED, which had been active in Binance's trading for several days, was urgently stopped just before it was officially launched. According to the official explanation, the reason was that its project party temporarily changed the community airdrop allocation plan and announced that it would allocate an additional 2% of the total amount of RED tokens to the initial airdrop allocation to the missing community members.
Behind this is the effectiveness of the community's unfair resistance to airdrop distribution, or the compromise made by the RED project to maintain the token price, we have no way to know.
But at least this time, we can see that brave voices can still make a difference.
7.SOON Network: Extend SVM outside of Solana | Super early project attention
After the Pump wave, the Solana ecosystem needs to build more valuable projects to retain users and continue to expand the influence of its own ecosystem.
But how can more ecological users use the fast and low-cost Solana chain?
SOON Network stands out as a rollup stack designed to deliver top-notch performance for all Layer 1, tailored architecture to meet the high-performance needs of modern decentralized applications.
With only 33 hours left before the first White House cryptocurrency summit, the crypto market's gaze has been focused on this high-standard conference that could impact the future of the industry.
The meeting will last from 2:30 am on March 8 to 6:30 am Beijing time. US President Trump will attend and speak in person, gathering with AI and cryptocurrency Tsar David Sacks, US SEC acting chairman Mark Uyeda, US CFTC acting chairman Caroline Pham and many crypto industry leaders.
However, no details were disclosed in the official invitation email except for the time and place. The specific agenda and discussion themes of the meeting remained enshrined in mystery. This article will sort out the current market forecasts for the conference content and discuss important policy trends.
The once-prosperous KOL round of financing has now become the "nightmare" of many KOLs:
"I invested more than a dozen KOL rounds last year, and all of them lost money. Most of them didn't even issue coins, and they were gone."
"Let me tell you this, basically all KOL rounds are not making much money."
"I invested more than a dozen last year and finally sent two. The 5,000U was sent to 400U."
I thought it was a shortcut to participate in high-quality projects at low cost and achieve wealth appreciation, but it turned out to be a full loss. Someone had no choice but to joke: "I lost my face and lost my money."
The KOL round seems to be about to become a derogatory term, from the wealth code to the "capital hunting ground".
Although the market has been bullish for a day because of Trump's strategic reserve declaration, the Trump administration seems to have not given up on playing the crypto card.
Yesterday, two consecutive policy turnover news that may be beneficial to encryption were released.
First, David Sacks, the White House AI and encryption director, said on the X platform that the White House will support the Congressional Review Act to revoke the "DeFi Broker Rules."
This morning, the U.S. Senate has passed the Congressional Review Act by 70 to 27 to revoke the DeFi broker rules and the resolution will become law after the House of Representatives and the signing of President Trump.
Second, Alpine Fox LP founder Mike Alfred revealed on X platform that at the White House crypto summit on Friday, the Trump administration may announce the cancellation of the zero capital gains tax policy for cryptocurrency sales.
Starting from February 25, the price of Bitcoin entered a violent oscillation mode, and experienced a significant "N-shaped" fluctuation in just one week, with a rise and fall of more than 15%. The crypto greed and fear index continues to be in the "fear" area. When retail investors are panicking in the alarm of liquidation, the top whales smell the "bloody smell"...
In this market game, some people buy at the bottom and escape from the top, making tens of millions; some people bet on the wrong direction and were tragically liquidated. Who is turning the tables in the market? Who is the one who fails in the turmoil?
This issue's inventory will deeply analyze the magical operations of whales in the market in the recent market, and decode how encrypted giant whales staged a capital game of "lipping blood on the tip of a knife" in the contract Shura field.
Since the SIMD-0228 proposal is the first time on Solana Network, the community remains reserved about whether it will work as expected.
"Cross-chain" has always been a product that is urgently needed in the crypto industry.
Recently, the cross-chain field has ushered in a lot of good news. On February 19, the cross-chain asset packaging agreement Universal announced the completion of a US$9 million financing led by a16z. Immediately afterwards, on February 20, the Ethereum Foundation announced the launch of the modular cross-chain operation open source framework Open Intents Framework, providing developers with powerful tools for building and deploying intent product experiences, further promoting the development of cross-chain technology.
On February 26, Kavita Gupta, an early participant in the Ethereum ecosystem, founder of Delta Fund and former partner of ConsenSys Ventures, publicly announced the launch of the cross-chain aggregation protocol Inclusive Layer. The protocol is centered on user intentions and aims to break through the barriers between EVM and non-EVM ecosystems and provide users and developers with a more seamless cross-chain experience.
On March 2, Trump issued a statement on cryptocurrency reserves, saying that his executive order for digital assets directed the presidential working group to advance crypto strategic reserves including XRP, SOL and ADA to "ensure the United States becomes the center of cryptocurrency in the world." Subsequently, Trump added that BTC and ETH were also included in the reserves. After the news was announced, the above five assets mentioned by Trump ushered in a sharp rise, giving a shot of the crypto market that continues to decline.
Related reading: " Trump "rescue the market", a look at the most popular "macro events" and "US currency" this week "
In addition to the two spot ETFs that have been listed, the approval and promotion of "US currency" ETFs such as XRP, SOL, and ADA may also usher in an accelerated period.
Earlier this year, with the new administration taking office, the SEC had announced the creation of a new cryptocurrency task force led by Commissioner Hester Peirce, which insiders see as the door to update regulations and approvals from more cryptocurrency funds. The approval of a wider range of cryptocurrency ETFs including SOL, XRP, LTC, DOT and DOGE may be accelerated, and the crypto ETF market continues to heat up.
Altcoins are about to usher in a new wave of applications and listings. At present, multiple entities are applying for spot ETFs for assets such as SOL, XRP, LTC, DOT, ADA, TRUMP, DOGE, HBAR, BONK, APTOS, etc.
15.Result of rationality｜Does Encryption no longer trust Trump?
Last night, the cryptocurrency market fell into a carnival due to a post Trump mentioned "crypto strategic reserves". XRP, SOL, and ADA soared by more than 30% in a single day, and Bitcoin and Ethereum followed suit, and the market value of the entire crypto market surged by US$300 billion.
The "pull the market" effect is obvious, but the market does not seem to have reappeared in the past for the warm cheers for the policy bull market.
The rationality of encryption is returning.
16.With 7 personnel adjustments and three new organizations, can Ethereum’s “self-rescue” be reborn?
During this cycle, Ethereum has suffered a lot of dilemma: the carnival of Meme coins has absorbed funds and eyes, the prosperity of Layer2 has backfired the value of the main network, and the Ethereum Foundation has also been criticized for its "inaction". The market has raised doubts about Ethereum. Ethereum, which was once regarded as the "king of public chains", is being joked by the community as a "declined old order", and Vitalik has also fallen from the "altar".
With the market's cold eyes, internal ecological consumption and weak currency prices, Ethereum finally couldn't sit still...
Faced with the community, developers and investors, a "self-rescue action" officially kicked off. The adjustment of Ethereum Foundation personnel and the establishment of new departments are undoubtedly the first shot in this change.
Backpack prioritized the hardest work to integrate it into the social framework of major markets.
18.Trump "rescue the market", a look at the most popular "macro events" and "US currency" this week
This week may be the most critical week that will affect the future of cryptocurrency market.
19.Interview with SBF: Don’t think you are a criminal, you feel extremely painful about what happened
In a prison with muffins and instant noodles as currency, SBF missed the transition from outside to the outside world, and in the latest interview, he talked about his worldview.
The crypto industry has been roaming the boundaries of innovation and scams, and regulators need to truly clarify what kind of industry they want to support.
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