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David Sacks will lead the White House crypto summit, with Bo Hines administering, as announced by the White House.
Quick Take President Trump, on Truth Social, directed his crypto working group to “move forward” on a Crypto Strategic Reserve that includes SOL, XRP, and ADA. His announcement notably excludes Ethereum and Bitcoin, the two largest cryptocurrencies by market cap; the federal government already holds at least $17 billion in BTC, according to Arkham.
Quick Take A trader who used $6 million to open a 50x leveraged long position on both BTC and ETH made $7 million in 24 hours after Trump’s crypto reserve announcement caused crypto prices to pump. Notably, the trader closed their position before Trump’s announcement clarifying BTC and ETH would be included in the reserve, missing out on even more gains. At one point early Sunday morning, the price of ETH had to fall just $54 more to liquidate the trader’s long position.
Quick Take In a new Truth Social post, Trump said his planned U.S. Crypto Reserve will include Bitcoin and Ethereum “at the heart of the Reserve.” Trump announced Sunday morning that the Reserve would also include Cardano, Solana, and XRP. Trump’s crypto executive order signed in January referred only to the creation of a digital assets “stockpile,” which would have key differences to a reserve.
Quick Take President Trump’s announcement regarding a U.S. Crypto Strategic Reserve sent prices soaring across the crypto industry, boosting the total industry market cap by nearly 20% since its recent lows on Friday. Cardano, XRP, Trump’s memecoin, and Solana were the best performing coins over the past 24 hours; BNB rose the least out of the top 10 cryptocurrencies by market cap.
- 02:13The U.S. government is once again embroiled in a shutdown crisis, with both parties at an impasse over the temporary funding billDemocratic members of the U.S. Senate gathered on Wednesday to discuss a temporary funding bill passed by the Republican-controlled House of Representatives (the Senate needs 60 votes to advance this bill, and Republicans hold 53 seats in the Senate), with only two days left before a partial government shutdown. The Democratic leader in the Senate, Schumer, called for an extension of current spending for one month so that there would be time to complete a more comprehensive appropriations bill this year, but this strategy is unlikely to succeed. Schumer warned that all 47 Democratic senators unanimously opposed the six-and-a-half-month funding bill passed by the House; only one Democrat in the House voted in favor. In his brief speech to the Senate, Schumer said: "I hope my Republican colleagues can join us in avoiding a shutdown on Friday." Republican Senator Markwayne Mullin stated, "If they decide to shut down the government, it's 100% Schumer's shutdown."
- 02:1299.2% of the new shares in Trump's encryption project WLFI have been sold outNews on March 13, according to the official website information, Trump's encryption project WLFI has sold 99.2% of its newly added 5% share (5 billion tokens). Previous news reported that the supply price of the additional 5% in Trump's encryption project WLFI had risen to $0.05, while the previous round was only priced at $0.015.
- 02:07Starknet will expand to BitcoinThe Starknet Foundation announced on the X platform that it will continue to remain active on Ethereum, while also becoming the execution layer for Bitcoin. The goal is to increase the throughput of the Bitcoin network from 7 TPS to several thousand TPS.