Acting SEC Chair Mark Uyda discussed the halt in the investigation into Crypto firms, regulation, China’s presence and technology independence efforts in American markets.
President Donald Trump on Thursday signed an executive order to establish a strategic bitcoin reserve. Crypto Caesar David Sachs celebrated the move via a post on X.
He wrote, “The reserve will be capitalized with a bitcoin owned by the federal government, which was confiscated as part of the criminal or civil asset proceedings. This means that it would not spend even a penny to taxpayers,” he wrote. “It is estimated that the US government owns around 200,000 bitcoins; however, has never been fully auditing. EO directs the full account of the federal government’s digital asset holdings. The US will not sell any bitcoin deposited in the reserve. It will not be kept as a price store. It is often called a digital fort nox for the cryptocurrency.
Sachs, a silicon Valley and Pro-Crypto giants who would shape the future policy around digital assets, reiterated their criticism of the former administration, which they understood as leaving the ball Bitcoin, the largest cryptocurrency From market value.
He said, “In premature sales of bitcoin, already American taxpayers have already been lost at a price of more than $ 17 billion. Now the federal government will have a strategy to maximize the value of its holdings,” he also said.
Sacks also explained how other digital currencies can be used.
“In addition, the Executive Order establishes an American digital asset stockpile, which includes digital assets in addition to bitcoins seized in criminal or civil proceedings,” he wrote.
The move comes on the eve of Friday with members of the President’s Working Group on digital assets, which is being billed as a “Digital Asset Summit”.
The following crypto leaders are included in the Friday meeting, while more can be added:
- Tyler and Cameron Vinklevos, Mithun founder
- Vlad Tenv, Robinhood CEO
- Arjun Sethi, Crackon CEO
- Michael Sayler, Founder and Executive President of Strategy (East Microstrate)
- Brian Armstrong, CEO of Coinbase
- Chenlink co-founder Sergei Nazarov
- Kyle Samani, Managing Partner at Multicin Capital
- Zach witkoff, co-founder of Trump-supported World Liberty Financial
- JP Richardson, CEO of Exodus
- Matt Huang, the co-founder of the paradigm
- David Bailey, CEO of bitcoin magazine
Last Sunday, before the meeting, Trump advanced his plans for a strategic reserve For cryptocurrency, posting on truth social:
“A US Crypto Reserve The Biden administration will elevate this important industry after years of corrupt attacks, which is why my executive order on digital assets directed the President’s Working Group to move forward on a crypto strategic reserve that includes XRP, Sol and ADA. I will make sure that America is the Crypto capital of the world. We are making America great again! ,
Here is a real -time pricing snapshot of popular cryptocurrency.
Trump’s Crypto Czar reduced the government’s lack of bitcoin deficiency ‘long -term strategy’
David sax (Reuters/Bake Definbach/File)
Bitcoin
Ethereum
Sola
XRP
Cardano
Fox Business’ Allenore Terit contributed to this report.
