This week’s major developments in the crypto world include President Trump’s executive order to establish a Strategic Bitcoin Reserve, El Salvador’s defiance of the IMF’s Bitcoin restrictions, and ongoing struggles for cryptocurrency ETFs.
President Donald Trump issued an executive order creating a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. The reserve will accumulate Bitcoin through federal asset forfeitures, and according to White House crypto czar David Sacks, it “will not cost taxpayers a dime.” This order was signed ahead of the White House crypto summit, attended by key industry figures.
However, not everyone supports the move. Solana co-founder Anatoly Yakovenko voiced skepticism, arguing that government involvement in crypto reserves could undermine decentralization.
Three major crypto companies benefited from eased regulatory pressure this week:
El Salvador’s President Nayib Bukele reaffirmed that the country will continue acquiring Bitcoin, despite the IMF’s restrictions in its $3.5 billion loan agreement. The IMF had claimed that El Salvador’s public sector was prohibited from accumulating Bitcoin, but Bukele remains committed to his Bitcoin strategy.