Trump May Announce Bitcoin Reserve Strategy at White House Crypto Summit
On March 5, the U.S. Secretary of Commerce stated that Trump will announce a Bitcoin reserve strategy plan at the White House Cryptocurrency Summit.
CFTC and SEC Resume Collaboration on Digital Asset Regulation
CFTC Acting Chair Caroline Pham confirmed that the CFTC and SEC are working together to develop digital asset regulatory policies. SEC Commissioner Hester Peirce acknowledged the role of the crypto working group in clarifying the SEC’s authority and emphasized the importance of public participation in rulemaking to ensure that affected groups have a voice in regulatory decisions.
Crypto Market Enters Mid-Bull Market Adjustment
Placeholder Partner Chris Burniske believes that market panic presents a buying opportunity and views the current pullback as a mid-bull market adjustment. He believes the peak of this cycle has not yet been reached. Despite Bitcoin’s recent decline, he remains optimistic and advises investors to avoid selling during price surges, emphasizing the importance of focusing on its long-term growth potential.
BlackRock Halts Bitcoin Sales, Holdings Still Exceed $50 Billion
According to an Arkham report, BlackRock has stopped selling Bitcoin, with no outflows from the IBIT address today. The company’s total Bitcoin holdings still exceed $50 billion.
Weak ADP Employment Data Sparks Concerns About U.S. Economic Slowdown
Economists and investors are increasingly concerned about a U.S. economic slowdown as the ADP employment data fell short of expectations. The market continues to focus on the upcoming government non-farm payroll report.
U.S. to Revalue Gold Reserves to Support Cryptocurrency Strategic Reserve Fund
Bloomberg analyst Simon White suggested that the U.S. may revalue its gold reserves to fund cryptocurrency purchases. Trump announced the establishment of a strategic crypto reserve fund but did not disclose specific financing plans. Treasury Secretary Benson hinted at monetizing balance sheet assets, such as revaluing gold, to support the plan.
