Russia’s Deputy Finance Minister, Vladimir Kolychev, confirmed that the National Wealth Fund (NWF) will not include Bitcoin or any cryptocurrencies, focusing instead on gold and the yuan for their stability and liquidity. The NWF currently holds 60% in yuan and 40% in gold, as digital assets are deemed too volatile for sovereign reserves. While Bitcoin is used in international trade, it remains excluded from the NWF, which is currently at 5.6% of GDP.
about Russia Excludes Bitcoin from National Wealth Fund Focusing on Gold and YuanSprott Focus Trust, Inc.
0 in Finance and 0 in Crypto last weekEl Salvador’s President Bukele Defies IMF and Continues Bitcoin Purchases
El Salvador’s President Nayib Bukele remains committed to purchasing Bitcoin daily, despite the International Monetary Fund’s (IMF) warnings against using public funds for cryptocurrency investments. While the IMF expresses concerns over financial stability, El Salvador’s Bitcoin holdings have reportedly turned profitable, with estimates suggesting unrealized gains exceeding $30 million. Bukele believes that Bitcoin adoption will ultimately benefit the country’s economy, though the long-term implications of this strategy remain uncertain.
about El Salvador's President Bukele Defies IMF and Continues Bitcoin PurchasesBukele Stands Firm on Bitcoin Amid IMF Loan Conditions
El Salvador’s President Nayib Bukele has reaffirmed his commitment to Bitcoin, defying the IMF’s conditions tied to a $1.4 billion loan that restricts government Bitcoin purchases and mandates transparency. Despite these pressures, Bukele announced the acquisition of additional BTC, bringing the country’s total to 6,101, emphasizing Bitcoin’s role in national sovereignty and economic independence. His stance has garnered both support and skepticism, as critics warn that defying the IMF could jeopardize future financial aid.
about Bukele Stands Firm on Bitcoin Amid IMF Loan ConditionsSEC Delays Decision on Ether ETF Options Until May 2025
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Ether ETF options, setting a new deadline for May 2025. This includes requests from Cboe for the Fidelity Ethereum Fund and Nasdaq ISE for BlackRock’s iShares Ethereum Trust, which holds over $3.7 billion in assets. Despite these delays, spot Ether ETFs have attracted $11 billion since their launch in July 2024, reflecting growing institutional interest in crypto derivatives.
about SEC Delays Decision on Ether ETF Options Until May 2025Senate Votes to Repeal IRS Rule on Decentralized Finance Regulation
The U.S. Senate passed a bipartisan resolution to deregulate IRS oversight of the decentralized finance (DeFi) sector, with a 70-27 vote led by Senator Ted Cruz. The IRS rule, which aimed to classify DeFi trading services as “brokers” and impose compliance requirements, faced criticism for threatening the decentralized nature of the industry.Supporters of the repeal, including the Blockchain Association and Coinbase, view this as a significant step toward fostering innovation in blockchain finance. The resolution now awaits approval from the House of Representatives and the President to solidify DeFi’s legal standing in the U.S.
about Senate Votes to Repeal IRS Rule on Decentralized Finance RegulationPotential Altcoin Gains from Trump’s Crypto Strategy and Market Impact
Analysts predict that Avalanche (AVAX) could see significant gains due to its favorable conditions, including a pending ETF application and connections to Trump’s digital asset advisory council. Other tokens like Sui, Filecoin, and Aptos have White House recognition but lack Trump’s endorsement or ETF efforts. The crypto market remains volatile amid US inflation and tariff uncertainties, with experts suggesting a potential bullish reversal driven by new crypto policies.
about Potential Altcoin Gains from Trump's Crypto Strategy and Market ImpactEl Salvador President Rejects IMF Bitcoin Purchase Restrictions
El Salvador’s president Nayib Bukele has firmly rejected the IMF’s recent request to halt government Bitcoin purchases, asserting that the country “won’t stop” buying the cryptocurrency. Despite the IMF’s call for a “ceiling of 0” on government acquisitions and a ban on voluntary accumulation, Bukele emphasized the nation’s commitment to Bitcoin, stating, “If it didn’t stop when the world ostracized us, it won’t stop now.” El Salvador currently holds over 6,100 Bitcoin, valued at more than $527 million.
about El Salvador President Rejects IMF Bitcoin Purchase RestrictionsUS Senate Votes to Repeal Controversial DeFi Tax Rule
The US Senate voted to repeal a Treasury Department rule that would have required DeFi trading websites to collect users’ personal information, marking a significant win for the crypto industry. With bipartisan support, the bill is expected to be signed by President Trump if it passes the House. This move reflects a shift towards relaxing regulations on digital assets, aiming to protect innovation and user privacy in decentralized finance.
about US Senate Votes to Repeal Controversial DeFi Tax RuleDaniel Morris on Trump’s Economic Agenda and Market Implications
Daniel Morris, Chief Market Strategist at BNP Paribas, expresses surprise at the aggressive pace of the new Trump administration, which he believes will lead to significant US economic growth but increased market volatility. He notes uncertainty around Trump’s tariff strategy and its potential impact on trade relations, while maintaining a positive outlook for US equities despite concentration risks. Morris also highlights the contrasting priorities of the US and Europe regarding job security and economic growth, suggesting that Europe may need to adapt to US deregulation pressures to remain competitive.
about Daniel Morris on Trump's Economic Agenda and Market ImplicationsIMF Imposes Bitcoin Restrictions on El Salvador Amid Loan Agreement
The IMF is imposing strict restrictions on El Salvador’s Bitcoin adoption as part of a $1.4 billion loan agreement. The country must halt public sector BTC purchases, dissolve the Fidebitcoin trust fund by July 2025, and cease operations of the Chivo wallet system, citing economic stability concerns.Additionally, El Salvador is required to disclose all Bitcoin wallet addresses and provide audited financial statements for crypto-related entities. The IMF’s report highlights that Bitcoin’s use has been minimal, primarily due to its volatility and limited trust in the technology.
about IMF Imposes Bitcoin Restrictions on El Salvador Amid Loan AgreementEl Salvador Faces IMF Restrictions on Bitcoin Amid Loan Agreement
El Salvador has agreed to new conditions from the IMF as part of a $1.4 billion loan, which restricts government engagement in Bitcoin activities. Key requirements include halting new Bitcoin acquisitions, liquidating the Fidebitcoin trust fund, and making Bitcoin acceptance voluntary in the private sector. Despite these limitations, the country recently added 11 BTC to its reserves, raising its total holdings to approximately 6,100 BTC, valued at around $510 million.
about El Salvador Faces IMF Restrictions on Bitcoin Amid Loan AgreementTrump Expected to Sign Resolution Rescinding IRS Crypto Reporting Rule
President Trump is poised to sign a resolution that would repeal a controversial IRS crypto rule, which his advisers argue burdens decentralized finance (DeFi) in the U.S. The Senate has shown bipartisan support for the resolution, with a super majority voting to advance the discussion. Advocates warn that stringent regulations could push American crypto entrepreneurs abroad, highlighting the need for a supportive environment for the industry.
about Trump Expected to Sign Resolution Rescinding IRS Crypto Reporting Rule