📄 President Trump Signs Executive Order to Evaluate Digital Asset Reserve

yyc trader & Jona Jaupi
January 24, 2025

GM Defiers!

President Donald Trump continues to make waves in the crypto sector after signing an executive order that explores a digital asset stockpile. Meanwhile, the Senate Banking Committee named Sen. Cynthia Lummis (R-WY) as Chair of the newly-formed Digital Assets Subcommittee.

The Ross Ulbricht Memecoin recorded a dramatic 90% drop in value following news of Ulbricht's presidential pardon. Circle, the issuer of USDC made a bold entry into the real-world asset market by acquiring Hashnote and USYC.

✍️ In today’s newsletter:

• Experts outline how Trump could establish a strategic Bitcoin reserve
• Ross Ulbricht memecoin drops 90% following presidential pardon
• Senator Cynthia Lummis is appointed Chair of Senate Digital Assets Subcommittee
• Puffer Finance Introduces CARROT rewards token for staking
• John McAfee’s wife launches AI memecoin to celebrate his legacy
• Trump signs executive order to explore digital asset reserve
• Etherealize launches institutional marketing campaign for Ethereum
• Circle expands its portfolio with acquisition of Hashnote and USYC

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• Exploring Alephium, a Modern Sharded Blockchain Network

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🖊️US President Trump Signs Executive Order to Consider Digital Asset Stockpile

President Trump signed a flurry of crypto-focused executive orders on Thursday, including one to establish a national digital asset reserve. That EO also prohibits agencies from promoting central bank digital currencies.

🏦Senate Banking Committee Names Sen. Cynthia Lummis Chair of Digital Assets Subcommittee

Senator Cynthia Lummis (R-WY) has been appointed Chair of the Senate's new Digital Assets Subcommittee. The development came shortly after Lummis shared a cryptic post on X, stating “Big things are coming.”

📈Ross Ulbricht Memecoin Plummets 90% Upon Presidential Pardon

President Trump's pardon of Silk Road founder Ross Ulbricht sent ROSS memecoin soaring to $40M, only for it to crash 90%. After the crash, the token was left sitting at a $2.2M market cap.

🥕Liquid Restaking Protocol Puffer Finance Unveils CARROT Airdrop Tokens

Puffer Finance has launched CARROT, a rewards token you can earn by staking, providing liquidity, and voting on governance. With 100 million tokens up for grabs, users can vote on how rewards are distributed.

SPONSORED POST

Web3 is often fragmented, with users struggling to manage multiple blockchains, wallets, and bridges. Okto is addressing this by adopting ERC-7683, a proposed Ethereum standard that simplifies cross-chain interactions. Instead of dealing with complex processes, users can express their goals—like swapping tokens—in a single message. Specialized "fillers" then handle the technical details, executing these tasks across chains. This reduces confusion, lowers costs, and improves efficiency. Okto is integrating ERC-7683 into its platform to create a more unified and decentralized Web3. Although still in draft status, ERC-7683 has gained support from major protocols like Across Protocol, Uniswap Labs, and Polygon Labs, aiming to make cross-chain transactions as seamless as browsing the internet.

Read More: Okto is building ERC-7683 on Solana: Way for a Unified Web3 Future

💰Trump is Steadfast on Implementing a Strategic Bitcoin Reserve, Experts Explain How He Might Do It

President Trump’s idea to create a U.S. Bitcoin reserve has crypto enthusiasts excited, but experts are raising flags about potential roadblocks like legislation, funding, and Bitcoin's wild price swings.

🤖John McAfee’s Wife Launches AI Memecoin to Honor Husband’s Legacy

Elizabeth McAfee, wife of the late John McAfee, revealed that she’s the mastermind behind an AI memecoin called AIntivirus (AINTI). The memecoin was created in memoriam of her late husband’s legacy.

📊Bitcoin Volatility Persists as Traders Await Trump’s Policy Moves

The crypto market stayed volatile on Thursday, fueled by President Trump’s recent inauguration and lingering policy uncertainty. Bitcoin rose to $105,000 amid ongoing market fluctuations.

📰 Etherealize Unveils Institutional Marketing Initiative for Ethereum

Etherealize, an Ethereum marketing arm backed by the Ethereum Foundation, has officially emerged from stealth mode. The project is focused on bringing institutional players to Ethereum.

⭕️Circle Acquires Hashnote and USYC

Circle, the issuer of USDC, has entered the real-world asset market by acquiring fintech firm Hashnote and its tokenized money market fund, USYC. With a market cap of nearly $1.3 billion, USYC represents 34% of the tokenized Treasury market, valued at $3.5 billion.

🌍 ELSEWHERE

• Real Estate Firm Propy Is Rolling Out Crypto-Backed Loans to Buy Houses(CoinDesk)
• Andreessen Horowitz to Close UK Office as US Warms to Crypto (Bloomberg)
• MicroStrategy May Face Potential Tax Liabilities on $19.3 Billion Bitcoin Gains (CoinMarketCap)

🔥TRENDING

• Circle Acquires Hashnote and USYC
• Trump is Steadfast on Implementing a Strategic Bitcoin Reserve, Experts Explain How He Might Do It
• Digital Asset Funds' AUM Climbs to New High After Drawing $2.2 Billion in a Week
• TORN Surges Over 150% After US Appeals Court Lifted Tornado Cash Sanctions
• Solana Rallies as Crypto Markets Consolidate Following Trump’s Inauguration
• Yes, Someone Has Filed For a TRUMP ETF