Senator Lummis Claims Military Backs 1M Bitcoin Acquisition Plan
U.S. Senator Cynthia Lummis recently announced that the U.S. military supports her strategic plan to acquire 1 million Bitcoin ($BTC). Lummis framed this initiative as a necessary measure for national preparedness, essential in an "economic war with China." This proposed accumulation would establish a digital asset reserve for the United States.
Following Lummis's statement, $BTC mindshare registered a 2.0% increase, reflecting a rise in public discussion.
Trump Treasury Pick Vows to End Crypto Regulatory Barriers
Scott Bessent, designated Treasury Secretary in a potential Trump administration, announced plans to eliminate regulatory barriers for Bitcoin and other digital assets. This declaration outlines a policy shift aimed at fostering a less regulated crypto environment, contingent on the administration taking office.
Bessent's proposed framework aims to reduce governmental oversight and streamline processes for $BTC and other digital assets, encouraging crypto innovation and growth. Such a stance contrasts with previous administrations, which often favored stricter oversight, reflecting a potential shift towards a more permissive regulatory landscape.
Former President Trump's Crypto Order Expected Today
Former President Donald Trump is expected to sign a crypto order today at 4:00 PM, following recent statements from his potential Treasury pick, Scott Bessent.
Eric Trump, the former President's son, publicly expressed bullish sentiment on $BTC, setting a $1 million price target.
The $TRUMP token traded at $3.566, with a 24-hour volume of $424,304.12 across 1421 trades. Its Relative Strength Index (RSI) was 68 (a 6-point increase), and it was listed as a top daily crypto gainer. Market sentiment for President Trump's crypto order was positive (scores 7-8), while Eric Trump's pro-$BTC statements generated significantly higher bullish sentiment (scores 91-98).
Stablecoin Yield Debate Stalls CLARITY Act; Coinbase CEO Pulls Support
The CLARITY Act, a proposed legislative framework for U.S. stablecoin regulation, has stalled in the Senate. This halt stems from a disagreement concerning the permissibility and structure of stablecoin yields. The impasse has led to concerns regarding the Act's timely passage, reflected in bearish sentiment data.
Traditional banking institutions advocate for a comprehensive ban on stablecoin yields, citing protection for traditional bank deposits. Crypto firms, conversely, argue that stablecoin yields are essential for DeFi innovation and growth. This divergence in perspectives has created a legislative hurdle, preventing consensus on key provisions.
This impasse has prompted Coinbase's CEO to publicly withdraw support for the CLARITY Act. This withdrawal underscores existing divisions within the industry and between traditional finance and crypto.
Coinbase CEO: Top Five Banks Adopting Crypto
Coinbase CEO Brian Armstrong stated during a recent CNBC interview that the five largest global banks are currently adopting Bitcoin and other cryptocurrencies, signaling expanding institutional digital asset integration.
While specific bank names or adoption strategies were not disclosed, Armstrong's statement indicates a progression from exploratory phases to active implementation within financial frameworks.