The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Wednesday! The market seemingly continues to move in lockstep with every piece of U.S. crypto reserve news, while participants hope for some greater clarity from the Trump White House on Friday.
In today's newsletter, bitcoin could be treated differently from altcoins in a potential U.S. crypto reserve, industry leaders line up to attend the inaugural Crypto Summit, Bitwise CIO Matt Hougan says Trump's reserve plan is bullish despite its flaws and more.
Meanwhile, El Salvador President Nayib Bukele vows to continue the country's bitcoin purchases despite the terms of its $1.4 billion IMF loan deal.
Let's get started.
More details about the potential U.S. crypto reserve are set to come out of the White House's Crypto Summit on Friday, according to independent political news outlet The Pavlovic Today.
Strategy co-founder Michael Saylor, Coinbase CEO Brian Armstrong, Kraken co-CEO Arjun Sethi and Chainlink co-founder Sergey Nazarov are among the industry leaders slated to attend the inaugural Crypto Summit hosted by President Trump in Washington, D.C.
Bitwise CIO Matt Hougan said the "market has this wrong" and is "overthinking things" amid the U.S. crypto reserve-fueled Trump pump and slump.
Ethereum developers activated the Pectra upgrade on the Sepolia testnet early Wednesday, marking the final major test phase before the mainnet launch.
Metaplanet bought another 497 BTC for $43.9 million, just two days after acquiring 156 BTC for $13.4 million.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT 3.5/4 and reviewed and edited by our editorial team.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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