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This week, Trump's Crypto Reserve took over the conversation, but the market wasn't seeming to buy its status as a long-term price catalyst. Today's Issue ⬇️ - 🗞️ Recap: Trump's Reserve
Will it grow beyond BTC? - 📺 Rollup: Crypto White House
What's Trump's vision for crypto? - 🕰️ Catch Up: What We Published
Berachain Opps. Fluidkey Privacy.
Sponsor: Mantle — Mantle is building the largest sustainable hub for onchain finance. . . . WEEKLY RECAP Trump Creates Bitcoin Reserve 1️⃣ Trump Establishes Bitcoin ReserveOn Thursday, Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve using tokens already held by the government via seizures. The market dumped BTC prices, in part disappointed that the government would not be buying additional bitcoin, but also just selling the news of the signed order. It was a perplexing week for the crypto reserve after Trump dropped some "truths" on his social media platform first mentioning XRP, SOL, and ADA as targets for the crypto reserve. After some confusion and backlash, he later added, “And, obviously, BTC and ETH." The inclusion of so-called "America coins" in the reserve was to the chagrin of many in the crypto space, even including Solana's founder. Following the announcement, Trump welcomed a number of the nation's top crypto execs and investors to a regulatory summit at the White House. 2️⃣ SEC Drops More Crypto CasesThe SEC continues to back down from enforcement actions against crypto companies. This week, the SEC dropped its case against one of the biggest centralized exchanges, Kraken. Kraken was sued by the SEC back in November of 2023 alleging that they were acting as an unregistered securities exchange. The SEC also dropped cases against Cumberland and Yuga Labs. Cumberland was sued by the SEC only last year alleging that they were operating as an unregistered securities dealer. Yuga Labs has been going at it with the SEC a bit longer, over three years. The SEC opened a probe into Yuga Labs to try and determine if specific NFTs were securities. The total number of cases dropped by the SEC over the past month is now up to 11. 3️⃣ Reddit Co-founder Eyes TikTok BuyoutOn Tuesday, Reddit co-founder Alexis Ohanian announced his interest in acquiring TikTok and putting it onchain. While Ohanian won’t be making the bid himself, he has joined Project Liberty as a strategic advisor to support what he calls “The People’s Bid.” Ohanian envisions bringing TikTok onchain through Frequency, a blockchain designed for decentralized social applications built on top of Polkadot’s infrastructure. This would give users full ownership of their data, an issue that has plagued platforms like Facebook and Twitter. 4️⃣ Aave Unveils Revenue Distribution PlanAave’s governance forum recently published an update to AAVE’s tokenomics, with the biggest highlight being changes to revenue distribution and token buybacks. First, Aave will begin buying back $1M worth of AAVE per week for six months. The tokens will be sent to the ecosystem reserve, where governance can later decide how to allocate them. 5️⃣ New Tether CFO Pushes for Full AuditAfter its previous CFO stepped down, Tether has opted to appoint Simon McWilliams as its new CFO. McWilliams has made completing a full audit of Tether a top priority. So far, Tether has only published quarterly attestations, broad financial overviews rather than full audits. Calls for greater transparency have been growing in the crypto space, as Tether has promised a full audit since 2015 but has yet to deliver. While McWilliams appears confident in his ability to see it through, this may just be another way for Tether to buy itself more time.
Experience the next generation of onchain finance with Mantle—where blockchain meets everyday banking. Powered by a $4B treasury, Mantle Network and mETH Protocol, Mantle is launching three innovation pillars: Enhanced Index Fund for optimized crypto exposure, Mantle Banking for blockchain-powered banking, and MantleX for AI-driven innovation. Stay tuned and enter the future of on-chain finance with Mantle. . . . WEEKLY ROLLUP Crypto's White House Summit Joining the Weekly Rollup this week is Haseeb Qureshi, dissecting Trump's controversial Crypto Strategic Reserve announcements. They unpack Sam Bankman-Fried's candid prison interview with Tucker Carlson, revealing a stark divide between human empathy and detached pragmatism. Plus, Trump's erratic tariff policies are rattling macro markets; is it strategic or simply chaotic? Finally, they delve into Ethereum's leadership shuffle, Base's new speed upgrade challenging Solana, and AI's profound reshaping of crypto startups and blockchain usability. Check out this week's rollup for the latest insights on what Trump's admin could be thinking for the future of crypto! . . . GET CAUGHT UP What We Published 📰 Articles:📺 Shows: . . . Thoughts on how to make Bankless even better? Tweet me!
🧑💻 Lucas Matney, Bankless Editor | 
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