Executive order deja-vu  – Blockworks

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President Trump yesterday issued his first crypto executive order. 

The news and ensuing chaos on Crypto Twitter reminded me of Biden’s crypto executive order, published in March 2022. 

Let’s take a trip down memory lane. Here’s what Trump’s report says, and how it differs from Biden’s plans: 

On CBDCs

Trump’s order prohibits federal agencies from establishing, issuing or promoting central bank digital currencies. It calls for any ongoing projects creating a CBDC to be “immediately terminated.” 

CBDCs “threaten the stability of the financial system,…

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The Cynics and Idealists of Bitcoin

There is something to the stereotype of naive dreamers and idealists, or cold hard realists and cynics. Stereotypes don’t just come into being baselessly, there is a kernel of truth to them, otherwise they would not have spread virally as an idea in the first place. But they, as well as the worldviews they espouse, are also exaggerated beyond that kernel.

Bitcoin is currently stuck in a game of tug of war between the naive idealists and the jaded cynics….

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Dear President Trump: Bitcoin Reserve, Not Shitcoin Reserve

Yesterday, President Trump signed an Executive Order (EO) entitled “Strengthening American Leadership In Digital Financial Technology.”

The document outlines the ways in which the U.S. government will embrace “digital assets” and support the rights of citizens and businesses to engage with “cryptocurrencies” and “blockchain technology.”

Bitcoin isn’t mentioned once in the document.

Most concerningly, it’s not mentioned in the portion of the document that addresses the potential for the President’s Working Group on Digital Asset Markets (also established via the EO) to create a “stockpile” of digital assets.

Here’s exactly how it reads:

“The Working Group shall…

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Trump’s Digital Assets Executive Order May Not Last — Senator Lummis is Doing it Right

Follow Anastasia on X.

Last night, President Trump signed the “Digital Assets” executive order (EO), and let’s just say Bitcoiners are feeling… sour. Initially, rumors swirled that this might be the long anticipated Strategic Bitcoin Reserve (SBR) legislation. But nope — not even close. Bitcoin reserve didn’t get a single mention.

Instead, the EO said:

“The Working Group shall evaluate the potential creation and maintenance of a national digital…

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Why Jambo could be ‘the onchain Apple’

This is a segment from the Empire newsletter. To read full editions, subscribe.

“We’re just trying to be the onchain Apple.”

Now that’s a banger of a quote. 

James Zhang, founder of Jambo, said it to Empire host Santiago Santos in a bonus Empire episode last week. 

Jambo, for those of you who may not be aware, is an onchain mobile network. We’ll get more into it in a bit, but Zhang’s points about really looking to give folks access to the digital economy stood out to me. 

Right now, Jambo’s biggest user base is in Latin America. Zhang originally thought the biggest user base would perhaps be Africa, but that hasn’t been the case…yet. 

As…

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US Bitcoin ETFs Daily Netflow Report (As of On January 24, 2025)

On January 24, 2025, the U.S. Bitcoin ETFs experienced a net inflow of 1,277 BTC, significantly exceeding the daily new Bitcoin mined total of 450 BTC. This reflects a substantial surplus of purchased or retained Bitcoins within these funds, signaling a strong investor demand and a bullish market sentiment towards Bitcoin on that day.

Leading the inflows, BlackRock’s Bitcoin ETF (Ticker: $IBIT) saw an impressive gain of 1,474 BTC, indicating a robust confidence among investors in BlackRock’s management of Bitcoin assets. Bitwise’s Bitcoin ETF (Ticker: $BITB) also had a notable increase, adding 403 BTC, further exemplifying positive market dynamics for the day.

Conversely, Grayscale’s Bitcoin ETF (Ticker: $GBTC) experienced a reduction, with an outflow of 467 BTC, which may suggest some investors were taking profits or reallocating their investments. Similarly, Invesco Galaxy’s Bitcoin ETF (Ticker: $BTCO) saw a significant decrease, losing 300 BTC, indicating a possible shift in investor sentiment or strategic rebalancing within that fund.

Overall, the day’s ETF activities underscore a prevailing investor enthusiasm in the Bitcoin market, as evidenced by the substantial net inflows on a day when new supply was relatively limited. Such trends are critical for understanding the broader market dynamics and the evolving investor behavior surrounding Bitcoin investments.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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World Liberty Fi’s $259M crypto stockpile is off to a good start

This is a segment from the Empire newsletter. To read full editions, subscribe.

At face value, President Trump is well on his way to giving crypto what it wants. 

A US government strategic crypto reserve. Or maybe it’s a stockpile. Is there a difference?

Anyone interested in wading into that debate is well covered on X and so on. 

Same goes for those keen to moralize the implications of US government agencies accumulating coins other than bitcoin — perhaps even ones backed by funds and entities controlled by appointed officials like venture capitalist David Sacks.

I’m taking a different path. Let’s put aside the US strategic stockpile. It doesn’t exist,…

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