What has happened this week in the world of blockchain and cryptocurrencies? The most relevant local and international events, as well as appealing background reports, are presented in a pointed and compact manner in the weekly review.
Selected articles of the week:
During the election campaign, Trump promised the establishment of a strategic Bitcoin reserve. Specifically, the proposal refers to the conversion of the seized Bitcoin held by the U.S. Department of Justice. Through various confiscations, the authorities have accumulated around 18 billion USD in Bitcoin over the past decade. The Department of Justice has sold these in smaller tranches. However, through an Executive Order signed on Friday, these Bitcoins and other digital assets can no longer be sold. Treasury Secretary Scott Bessent will create an office within the next 30 days to manage and oversee deposit accounts, which will be known as the “Strategic Bitcoin Reserve” and will be capitalized with all the Bitcoin held by the Treasury. Furthermore, the Treasury Secretary and the Secretary of Commerce will develop strategies to acquire additional government-owned Bitcoin, provided these strategies are budget-neutral and do not incur additional costs to taxpayers. A likely approach would focus on mining new Bitcoin. The international implications of this move are monumental.
The incumbent U.S. President Donald Trump has signed an Executive Order to establish a strategic Bitcoin and crypto reserve.
Not only Bitcoin as a reserve?
At the beginning of the week, there was disagreement about the components of the strategic crypto reserve. On his social media platform Truth Social, Trump stated that the reserve would include important cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana, and Cardano. However, the United States currently only owns Bitcoin (18 billion USD), Ethereum (120 million USD), USDT (120 million USD), and BNB (25 million USD). The later released Executive Order, however, specifies that no additional alternative cryptocurrencies will be accumulated for now. To add additional altcoins, the government would have to purchase them on the open market, which is likely to meet resistance in the U.S. Congress.
US President Trump has announced the creation of a strategic crypto reserve comprising Bitcoin, Ethereum, XRP, Solana and Cardano.
Innovation back in favor
During the Biden administration, former investment banker Gary Gensler led the SEC. Under his leadership, the SEC launched lawsuits against crypto projects from all sectors. In a veritable kamikaze attack, the SEC initiated 100 crypto-specific enforcement actions—mostly without legal basis. Most of the companies involved were serious players in the sector, which led to strong opposition to the strategy even within the agency. Moreover, none of the measures prevented the devastating collapses of Terra/Luna, BlockFi, Celsius, or FTX. In recent weeks, the SEC has dropped lawsuits against crypto exchanges Coinbase, Binance, Kraken, Robinhood, as well as decentralized projects like Uniswap and OpenSea. Only the case of Ripple vs. SEC remains open.
Since the regime change at the SEC, the agency has been dropping lawsuits against crypto companies like Coinbase on a weekly basis.
Third cryptocurrency at the CME
The Chicago Mercantile Exchange (CME) is a global exchange for financial derivatives, facilitating the trading of futures and options contracts on various assets, including commodities, currencies, and stock indices. It is one of the largest and most influential exchanges in the world. The CME began offering Bitcoin futures in December 2017 and Ethereum futures in February 2021, which later became the foundation for U.S. ETFs. Starting March 17, the futures exchange will add the third cryptocurrency, Solana (SOL), to its offerings.
CME Group will launch Solana (SOL) futures on March 17, 2025, providing institutional investors with new hedging and trading opportunities.
Cryptocurrencies at the local bank
In addition: Investing in cryptocurrencies is becoming increasingly popular, but at first glance, it may seem complex. There are now several ways to invest in cryptocurrencies, including decentralized exchanges, crypto brokers, and regulated crypto exchanges. Swiss banks are also increasingly offering services that enable the purchase and custody of cryptocurrencies. The choice of the right platform depends on personal preferences and the desired level of control over investments. An overview.
Investing in cryptocurrencies is becoming increasingly popular but may seem complex at first glance. An overview of the options.
