Analysis News TheBitTimes.com

US government might use tariffs to buy bitcoin According to a Trump Administration official, it’s legally possible for the US government to use tariff revenue to buy bitcoin (BTC). A mandate in Donald Trump’s executive order establishing the US Strategic Bitcoin Reserve (SBR) said that Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick “ shall develop strategies for acquiring additional Government BTC provided that such strategies are budget neutral and do not impose incremental costs on United States taxpayers.” One of these strategies could be tariff revenue, according to Bo Hines, executive director of the President’s Council of Advisers on Digital Assets. Indeed, in a White House interview with Anthony Pompliano, Hines said he was looking to present “creative” strategies to Bessent and Lutnick that “left no stone unturned,” including tariff revenues or the revaluation of Treasury’s statutorily priced gold certificates. Hines reiter...

The cryptocurrency market got a brand new look this year with Donald Trump taking over the US government. The President seems to be getting things done just days after he was sworn in. More recently, Trump signed an executive order to create the Presidential Working Group on Digital Asset Markets. To further stoke suspicions about a possible Bitcoin reserve, the working committee will also assess the establishment of a strategic Bitcoin reserve. Amidst this, the community was highlighting how several countries may soon follow suit. Also Read: BNB Foundation Burns $1.16 Billion in Tokens: What It Means for Investors “Bitcoin Is A Better Form Of Money” Source: Watcher Guru Earlier today, Coinbase’s Brian Armstrong was seen underlining the possibility of G20 nations walking in the footsteps of the US to create a strategic Bitcoin reserve. Armstrong noted how Bitcoin’s market cap currently stands around $2 trillion. This accounts for about 11% of gold’s market ...

While LidoDAO’s current inflows of about 1000 stETH are sufficient to cover operating costs for the time being, it’s worried that may not last. The decentralized autonomous organization (DAO) behind Lido — the largest Ethereum staking pool — is deliberating whether it should sell or stake the $30 million in Ether (ETH) from its treasury. A proposal was submitted on Feb. 14 by the DAO’s financial unit, Steakhouse Financial that considers four choices, one of which contemplates staking part or all of its ETH on Lido in the form of Lido Staked ETH (stETH). Another would see Lido DAO selling a part or all of its 20,304 ETH for a stablecoin, with the purpose being to extend the DAO’s runway. The four proposals (pictured) submitted by Steakhouse Financial to the LidoDAO asking how it should manage its treasury. Source: Lido The proposal comes as ETH staking withdrawals will soon be enabled through Ethereum’s Shanghai and Capella upgrades expected to take place sometime in earl 2023 accordin...