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news-imageMarch 3, 2025

White House Crypto Advisor Confirms Sale of Bitcoin, Ethereum, and Solana

White House crypto czar David Sacks confirms selling all personal cryptocurrency holdings before taking office while his firm maintains crypto startup investments, as Trump administration announces new crypto initiatives.
Publisher: Blockonomi
Sentiment: Neutral
BTC
ETH

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Positive
cover-imageCoindesk
March 3, 2025

Trump's Crypto Reserve Ignites Bitcoin, XRP, ADA

Bitcoin skyrockets 10%, Cardano's ADA up to 60% and Ripple's XRP up to 25% within 24 hours of U.S. President Trump announcing his support for a Crypto Strategic Reserve. Meanwhile, Switzerland's central bank rejects the idea of holding bitcoin reserves and the Ethereum Foundation names two new executive directors.

Negative
cover-imageBenzinga
March 3, 2025

Crypto Czar David Sacks Confirms Selling All Bitcoin, Ethereum, Solana Holdings, Denies 'Large Indirect Holdings'

White House-appointed ‘Crypto Czar' David Sacks confirmed that he liquidated all his cryptocurrency holdings—including Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Solana (CRYPTO: SOL)—before joining the administration. What Happened: In an X post on Monday, Sacks cited a Financial Times report detailing his crypto holdings.

Positive
cover-imageCrypto Economy
March 3, 2025

Bitcoin Miners Thrive as Network Hashrate Sees Unprecedented Growth

TL;DR Bitcoin's hashrate surpassed 750 EH/s, driven by increased investment in infrastructure and security. Active miners now exceed 4.8 million, strengthening network stability but also increasing mining difficulty. BTC futures open interest reached $25 billion, with a possible rise above $30 billion, which could drive the price higher.

Negative
cover-imageThe Currency Analytics
March 3, 2025

FTX's Solana Liquidation Drives SOL Price Down

Solana (SOL) has found itself at a crossroads as the cryptocurrency faces significant pressure from the liquidation of 11.2 million SOL tokens tied to FTX's bankruptcy. The unlock, which took place on March 1st, has raised concerns of a potential sell-off, with tokens valued between $1.5 billion and $2 billion now entering the market.

Neutral
cover-imageBenzinga
March 3, 2025

Analysts Doubt US Crypto Reserve Expansion Beyond Bitcoin, Cite Funding Challenges

Analysts at Bernstein have raised concerns that expanding the proposed U.S. Crypto Strategic Reserve to include blockchain assets beyond Bitcoin (CRYPTO: BTC) using Federal Reserve or Treasury funds faces significant hurdles, despite a bullish market response to President Donald Trump's weekend announcement. The reserve, unveiled ahead of Trump's Crypto Summit scheduled for Friday, includes five digital assets—Bitcoin, Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), Ripple (CRYPTO: XRP), and Cardano (CRYPTO: ADA)—sparking debate over its feasibility and funding.

Positive
cover-imageCointribune
March 3, 2025

Strategic Bitcoin Reserve: Coinbase CEO Disagrees With Donald Trump

Donald Trump's announcement regarding the creation of a national cryptocurrency reserve, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), has stirred reactions within the crypto industry. While this initiative aims to strengthen the position of the United States as a sector leader, Coinbase CEO Brian Armstrong believes that a reserve composed solely of Bitcoin would be the best option.

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