Good Morning,

Here's a quick preview of today’s content: Trump finally signed an executive order for a strategic Bitcoin reserve with mixed reactions, DC Democrats are embracing BTC, White House Summit kicks off today, SBF was on Tucker Carlson from prison, seized Chinese crypto miners are being released, and a past U.S. Bitcoin sale could’ve been worth $17B today, and more

It’s finally Friday - Let’s dive in.

Market Snapshot

• Bitcoin extended losses Thursday, falling -5.7% in less than an hour as investors reacted to President Donald Trump’s executive order establishing a Strategic Bitcoin Reserve

  • The rally has faded as traders take profits and reassess the market impact of the government’s new digital asset policy. Bitcoin has since rebounded slightly to $87,200

• Ethereum lost -6.1% to $2,100, while Solana and Dogecoin declined -6.8% and -5.8%, respectively. Binance’s BNB dropped -3.6% to $576, while Cardano fell -13.8% to $0.81

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Watch President Trump sign an executive order for strategic bitcoin reserve and crypto stockpile 

• White House digital summit attendee list includes nearly every notable figure in industry (X) 

• Sam Bankman-Fried appears on Tucker Carlson podcast from prison (CD)

• “I do not think I was a criminal” - Sam Bankman-Fried said here on Tucker Carlson’s podcast

• Solana co-founder denies rumors of lobbying for crypto reserve inclusion (CS)

• Democrats in Washington DC unexpectedly embrace Bitcoin (BW)

• Maple Finance tapped by Bitwise to support institutional defi lending (DT)

• Ethereum developers delay Pectra upgrade after testing issues (BL) 

• Sam Altman's World Network enters messaging space with new feature, World Chat (CD) 

• Meliuz, a Brazilian fintech company, plans to allocate 10% of cash for bitcoin reserves (CD)

• Ondo Finance officially becomes largest Real World Asset platform with $1B TVL (DF)

• BioNexus looks to focus on Ethereum over Bitcoin with approved Ethereum Treasury (DT)

• Axie Infinity, an Ethereum play-to-earn game, announced new MMO game, Atia’s Legacy (DT)

• Chinese crypto mining machines seized by U.S. authorities are being released (DT)

• David Sacks’ analysis indicated 195k U.S. bitcoin previously sold for $366M would be worth $17B (DF)

• Sui token surges after strategic reserve deal with Trump-affiliated WLFI protocol (CD)

Launches

• RedStone token RED launches at $900M valuation (DF)

• On-chain prediction market Myriad launches USDC markets (DT)

• Nick Cannon launches WILDNOUT memecoin  (X) 

• Dubai’s largest government-owned bank launched crypto trading services via subsidiary, Liv (DF)

• Robinhood draws 400k players on launch of Million Dollar Bitcoin Trivia game

Venture Capital

• Uniswap Foundation proposes $165M initiative to supercharge Uniswap V4 and Unichain (DF)

• New internet startup DoubleZero raises $28M at a $400M valuation led by Dragonfly and Multicoin Capital (CD)

• AirLevate Investment fully funds $10M strategic financing for web3 short form platform UniLive (X)

• Fully encrypted layer 1 Seismic raises $7M in funding round led by a16z (X)

• iAgent Protocol closes $3M seed from Doublejump.Tokyo, alpha sigma capital, and other angels & firms (CH)

• Big Brain Holdings leads $2.3M pre-seed round for decentralized AI network Fortytwo (CW)

• WhatsApp payment platform Sati announces $600k pre-seed funding from Boost VC, Draper Associates, BitcoinFi Accelerator, and others (CC)

• Fija welcomes Necto Labs as latest investor in €400k seed funding (X)

• LendrFi announces additional funding from MaxBeTC Syndicate (X)

• Hedera makes undisclosed strategic investment in stablecoin startup IvoryPay (MB)

Regulation

• Texas senate moves to approve bitcoin reserve bill (CD)

• New Hampshire state bitcoin reserve bill passes state house committee in 16-1 vote (DT)

• Transak on/off ramp received its Digital Currency Exchange registration in Australia (DT)

Cybersecurity

• Hong Kong official recently hacked by scammers says memecoin fraudsters will be severely reprimanded (DT)

• MEXC partners with blockchain auditor Hacken for improved security (CB)

• U.S. Secret Service seized and took down the website of Russian crypto exchange Garantex (DT)

• Garantex exchange hit by $28M USDT freeze by Tether (CD)

Extra Reads

• What Caused Bybit's $1.4 Billion Ethereum Hack?
  
  A full breakdown of all the details here 

Chart of the Day

Trump family’s World Liberty Financial increased ETH position nearly threefold this week, now holding > 7.1k ETH ahead of today’s White House event (FX)

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