1885: “Trump Signs Executive Order To Evaluate Strategic Bitcoin Reserve”

Summary

Episode 1885: “Trump Signs Executive Order To Evaluate Strategic Bitcoin Reserve”

Host: Justin Verrengia
Release Date: January 25, 2025

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1. Introduction and Market Overview

The episode kicks off with an enthusiastic welcome from Justin Verrengia, who introduces the day's topics focusing on pivotal developments in the cryptocurrency landscape.

• Market Performance:
  Justin presents a comprehensive overview of the current crypto market status. As of the episode's release:

  • Bitcoin (BTC): Touched $106k and is currently holding above $105k.
  • Ethereum (ETH): Up by 5%, hovering just below $3,400.
  • Solana (SOL): Showing positive gains.
  • Overall Market Cap: $3.63 trillion with Bitcoin’s market cap nearing $2.1 trillion.
  • 24-Hour Trading Volume: Approximately $166 billion.
  • Bitcoin Dominance: 57.7%
  • Ethereum Dominance: 11.2%

  “Bulk of the market pumping back in the green,” Justin notes at [01:00].

• Top Performers:
  The top 100 crypto gainers include Lido DAO leading with an 18% increase, followed by KCS and Jupiter.

• Market Sentiment:
  The Crypto Greed and Fear Index holds steady at 75, indicating extreme greed, which historically signals a potential market pullback.

  At [04:21], a Crypto Enthusiast remarks, “That's wow. Triple 75 interesting.”

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2. Technical Analysis and Market Predictions

Justin delves into Bitcoin’s technical analysis, presenting various chart perspectives to forecast potential price movements.

• Short-Term Outlook:
  Utilizing TradingView charts, he identifies a rising wedge formation on the one-hour, four-hour, and daily charts, suggesting bullish momentum with targets:

  • One-Hour Chart: Approximately $118k [08:07].
  • Four-Hour Chart: Targets near $130k [08:40].
  • Daily and Weekly Charts: Indicate ongoing bullish trends with proximity to all-time highs.

• Long-Term Prediction:
  Justin echoes sentiments from industry leaders like Max Kaiser and Michael Saylor, emphasizing the anticipation of significant Bitcoin adoption by billionaires leading to a supply shock.

  “Soon every billionaire will buy a billion dollars of Bitcoin and the supply shock will be so great that we will stop measuring Bitcoin in terms of fiat,” quotes Max Kaiser at [07:07].

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3. Trump’s Executive Order on Strategic Bitcoin Reserve

A major highlight of the episode is the discussion surrounding President Donald Trump's executive order aimed at evaluating the establishment of a strategic Bitcoin reserve.

• Key Provisions:
  The executive order focuses on:

  • Evaluating the creation and maintenance of a national digital asset stockpile.
  • Banning Central Bank Digital Currencies (CBDCs) to prevent potential threats to financial system stability and national sovereignty.
  • Boosting stablecoins to enhance the legitimacy and stability of private-sector digital currencies.

• Implications for Crypto Adoption:
  Industry experts like Andy Lynn from the Intergovernmental Blockchain Advisor deem this a “game changer for institutional crypto adoption” at [30:27]. The order signals a robust endorsement of existing cryptocurrencies over government-backed digital currencies, potentially accelerating institutional investments and mainstream acceptance.

• Regulatory Shifts:
  The order also mandates the exclusion of the Federal Reserve and FDIC from crypto working groups, aiming to dismantle previous barriers that hindered crypto integration within traditional banking systems.

  “The war on crypto is finally over,” Justin asserts at [31:13], reflecting the sentiment that the executive order paves the way for a more favorable regulatory environment.

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4. SAB121 Rescinded: Impact on Crypto Custody and Regulation

Another significant development covered is the rescinding of the SEC’s SAB121 rule, which previously imposed stringent regulations on crypto custody by financial institutions.

• Overview of SAB121 and SAB122:

  • SAB121: Required financial institutions to list crypto assets held on behalf of customers as liabilities, complicating custody operations and stifling institutional participation.
  • SAB122: Replaces SAB121, allowing institutions to assess liabilities based on actual risk rather than blanket liabilities, aligning crypto asset management with standard accounting practices.

• Industry Response:
  The crypto sector has lauded the repeal, viewing it as a simplification that encourages banks to offer crypto custody services without onerous accounting burdens.

  “The repeal of SAB121 simplifies crypto custody, encouraging banks adoption and boosting trust and traditional finance,” Justin explains at [27:20].

• Future Implications:
  Enhanced crypto custody operations and increased trust from traditional financial institutions are expected to drive greater institutional involvement in the crypto market, bridging the gap between conventional finance and the crypto ecosystem.

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5. MicroStrategy’s Tax Liability on Bitcoin Gains

Justin addresses the recent report on MicroStrategy potentially facing tax obligations on $19 billion worth of unrealized Bitcoin gains.

• Tax Implications:
  Under the Inflation Reduction Act of 2022, MicroStrategy may owe federal income taxes on its substantial unrealized Bitcoin gains, despite not selling any Bitcoin assets.

  “Despite never selling any bitcoin, MicroStrategy may have to pay taxes on its unrealized gains,” Justin states at [11:31].

• Company Response:
  MicroStrategy, along with Coinbase, has appealed to the IRS and U.S. Treasury to create exemptions for cryptocurrency, arguing that taxing unrealized gains could have severe unintended consequences for corporations holding substantial crypto assets.

  “If you got to pay taxes on unrealized gains, do you get tax breaks and credits for the unrealized losses?” Justin questions at [13:05].

• Market Reaction:
  The episode highlights the tension between evolving tax regulations and corporate crypto strategies, emphasizing the need for regulatory clarity to support widespread crypto adoption.

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6. Ross Albrecht’s Pardon and Its Crypto Implications

A poignant segment covers the pardon of Ross Ulbricht, the founder of the infamous Silk Road marketplace, by President Trump.

• Pardon Details:
  Ross Ulbricht, serving a double life sentence plus 40 years without parole, publicly thanked Trump for his pardon, expressing immense gratitude for his release after over 11 years of incarceration.

  “Thank you so much, President Trump for giving me this amazing blessing,” Ulbricht declares at [20:34].

• Community Support:
  The crypto community has rallied in support, with donations flowing in across various cryptocurrencies, including a notable $270,000 in Bitcoin, symbolizing solidarity and the ongoing struggle for digital freedom.

  “I am so, so grateful to have my life back, to have my future back,” Ulbricht shares, highlighting the personal and ideological victories within the crypto space ([21:07]).

• Security of Unclaimed Funds:
  Investigations revealed that over 430 Bitcoins linked to Ulbricht remained untouched in wallets for over 13 years, stressing the importance of securing digital assets against confiscation and ensuring rightful ownership post-pardon.

  “A wallet linked to the Free Ross campaign received over $270,000 in Bitcoin donations,” Justin notes at [23:04].

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7. Similar Scientific’s Strategic Bitcoin Purchases

Justin discusses Similar Scientific’s initiative to raise $75 million to fund additional Bitcoin purchases, following a $29 million gain from existing holdings.

• Funding Strategy:
  Similar Scientific plans to raise funds through convertible notes maturing in 2030, dedicating proceeds to corporate activities, primarily expanding their Bitcoin treasury.

  “Borrow billions, buy Bitcoin,” Justin quotes Michael Saylor’s succinct strategy at [16:32].

• Market Impact:
  This move mirrors MicroStrategy’s aggressive Bitcoin acquisition strategy, underscoring a broader trend of publicly traded companies leveraging financial instruments to bolster their crypto holdings.

• Company Performance:
  Despite substantial Bitcoin gains, Similar Scientific’s stock experienced a minor decline post-announcement, indicative of market skepticism or regulatory concerns surrounding corporate crypto strategies.

  “Their Bitcoin holdings have hit an unrealized gain of $28.9 million,” Justin explains at [17:08].

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8. Conclusion and Community Engagement

Justin wraps up the episode by encouraging listeners to engage with the crypto community, share opinions on the discussed topics, and participate in upcoming events like the Bitcoin Fiesta in Puerto Rico. He emphasizes the importance of staying informed and connected within the rapidly evolving crypto landscape.

“Yo, what's good Crypto fam… HODL!” Justin concludes, reinforcing the podcast’s commitment to delivering timely and insightful crypto news.

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Notable Quotes

• Max Kaiser on Bitcoin as Strategic Reserve:
  “By law only Bitcoin is allowed to be held as a strategic reserve in El Salvador. All altcoins like fiat money are backed by violence and scams. Bitcoin is backed by peace.” ([07:07])

• Michael Saylor’s Bitcoin Prediction:
  “Soon every billionaire will buy a billion dollars of Bitcoin and the supply shock will be so great that we will stop measuring Bitcoin in terms of fiat.” ([15:52])

• Ross Ulbricht’s Gratitude:
  “Thank you so much, President Trump for giving me this amazing blessing. I am so, so grateful to have my life back, to have my future back and to have this second chance.” ([21:07])

---

Key Takeaways

1. Regulatory Developments:

   • Trump's executive order and the rescinding of SAB121 mark significant shifts towards fostering a more favorable environment for cryptocurrency adoption and institutional investment in the U.S.

2. Corporate Crypto Strategies:

   • Companies like MicroStrategy and Similar Scientific are aggressively expanding their Bitcoin holdings, navigating complex tax landscapes to align with their long-term crypto strategies.

3. Community and Legal Milestones:

   • The pardon of Ross Ulbricht symbolizes a broader movement towards recognizing and rectifying past injustices within the crypto community, while also highlighting ongoing challenges related to crypto asset security and ownership.

4. Market Sentiment and Predictions:

   • Despite regulatory changes, the market remains volatile with indicators like extreme greed suggesting potential pullbacks, balanced against optimistic forecasts for Bitcoin’s future valuation.

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This episode of Crypto News Alerts delivers a thorough analysis of the latest developments impacting Bitcoin and the broader cryptocurrency market. Justin Verrengia effectively navigates complex topics, providing listeners with valuable insights and actionable information to stay ahead in the dynamic world of crypto.

Transcript

[John]

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[Crypto Analyst]

Welcome everyone to today's live stream and today's show. We breaking down the latest Bitcoin technical analysis and quoting the high priest of Bitcoin, Max Kaiser. By law, only Bitcoin is allowed to be held as a strategic reserve in El Salvador. All altcoins like fiat money are backed by violence and scams. Bitcoin is backed by peace. Also breaking news Micro Strategy may owe taxes on 19 billion worth of unrealized bitcoin gains according to this report. And quoting Max I'm sorry Michael Sailor soon every billionaire will buy a billion dollars of Bitcoin and the supply shock will be so great that we will stop measuring Bitcoin in terms of fiat. We'll also be discussing similar scientific to raise 75 million. The fun Bitcoin buys as paper gains near 30 million. Also Silk Road founder Ross Albrick, who is now a free man, thanks Trump for the full pardon. A very touching video he shared. We'll also be discussing SAB121 rescinded, what it means for the crypto custody and regulation moving forward in 2025. Also the breaking news Trump's executive order, a game changer for institutional crypto adoption. We'll be discussing Trump signing the executive order to evaluate the strategic Bitcoin reserve and also ban CBDC Central bank digital currencies while also boosting the stable coins. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good Crypto fam? This is first and foremost a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts.net Again, that's crypto news alerts.net Today is Pod Episode January 24, 2025. Again, this is episode 1885. We have a lot to share so let's just dive right in, shall we? You should be able to see my screen right here. I have coin360 pulled up. You can see the bulk of the market pumping back in the green. Bitco coin did tap 106 today. Currently sitting above 1057. We have ether up 5% on the day hovering just under 3.400h bar Solana. All the major cryptos pumping and in the green checking out coinmarketcap.com the current crypto market cap is 3.63 trillion. The total Bitcoin market cap just shy of $2.1 trillion. We have a roughly 166 billion worth of volume for the past 24 hours and the Bitcoin dominance is at 57.7%. Ether dominance at 11.2%. Checking out top 100 crypto gainers past 24 hours we got Lido Dao lead in the back up 18 followed by KCS and Jupiter. Let me know which alts if any you're bullish on. For the bull holla. And checking out the crypto bubbles we get a visual perspective of the market on the day. Bulk of the market in the green, safe to say 90 to 95% green over red and zoom it out on the monthly, I'd say 70% red rec city 30 green for the past 30 days. And checking out the crypto greed and fear index today we're 75 greed yesterday 75 last week of 75.

[Crypto Enthusiast]

That's wow. Triple 75 interesting.

[Crypto Analyst]

And last month of 73 in greed. Ultimately how this works, the higher this number goes in extreme greed the more likely of a pullback. And checking out the time Jane calendar.

[Crypto Enthusiast]

You can currently exchange one fiat monopoly dollar for 947sats and we're currently on block number 880 657.

[Crypto Analyst]

So there you have it. Crypto Bros Bitcoin technical analysis AKA astrology for the Broskis. Headline here reads Crypto confused on Trump's stockpile as Bitcoin price rejects 106 which we touched here this morning. I'll be pulling up the live charts here shortly. Here you're looking at a one hour chart. Bitcoin circled 105 January 24th as utterly confused crypto markets failed to rally on news of a potential US Buying spree. That's right, Trading View showed whipsaw bitcoin price behavior accompanying a new executive order by Trump the day prior. Amongst other goals, this intends to evaluate the potential creation and maintenance of a national digital asset stockpile and proper criteria for establishing such a stockpile. So baby steps, right? The Trump administration further rescinded controversial legislation from the SEC, SAB121, which will dive into greater detail later on the stream, something that pro Bitcoin Senate Senator Cynthia Lummis calls disastrous for the banking industry. And ultimately what it means is the banks can now custody bitcoin. So bitcoin back loans come in to a bank near you. So yeah, SAB121 removed the ability for the US banks to custody to crypto. So all that has changed, lummis wrote. I am thrilled to see it repealed and get the SEC back on track to fulfilling its intended mission.

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[Crypto Analyst]

Edu Can I get an Amen? And speaking of the sec, everyone show.

[Crypto Enthusiast]

The new chairman Nipsey some love.

[Crypto Analyst]

He's working harder than Gensler's worked on his best day right now. And far from celebrating, crypto markets themselves failed to find upwards momentum. Bitcoin remain within the local range, even avoiding a recess of all time highs as traders digested the events, Altcoin stayed flat even as the executive order seemingly left the door open to their inclusion in the stockpile.

[Crypto Enthusiast]

Quoting Scott Melker the market seems utterly.

[Crypto Analyst]

Confused at the moment. Those hoping for bitcoin to take the.

[Crypto Enthusiast]

Lead in the US Crypto policy appeared to all but entirely lose hope.

[Crypto Analyst]

Meanwhile, prediction service Poly market the odds of Trump creating a form of a bitcoin reserve during his first 100 days.

[Crypto Enthusiast]

In the office dropped.

[Crypto Analyst]

It was like 60% close to the.

[Crypto Enthusiast]

Other day and after I guess the executive orders in which he did sign.

[Crypto Analyst]

It'S now down to 21%.

[Crypto Enthusiast]

Let me know if you feel there's still possibility within the first 100 days. Let me know and I'll Read those comments out loud a little shortly. Meanwhile, VJ wrote it is really hard to emphasize how huge a sea change we are witnessing. We went from the worst conceivable anti bitcoin, anti innovation, anti growth, anti business administration to the most friendly bitcoin administration you could hope for. This is 100% not priced in preach. Let me know if you agree or disagree. And quoting the High priest Bitcoin Max Kaiser. By law only Bitcoin is allowed to be held as a strategic reserve in El Salvador. All the altcoins like fiat money are backed by violence and scams. Bitcoin is backed by peace and shout out to this man. He just turned 65 years old yesterday and he is a legend in the space.

[Crypto Analyst]

He started talking about bitcoin back when.

[Crypto Enthusiast]

It was 4 $4.25 a pop. So all credit due to him and Stacy Herbert the Kaiser Report for paving the way and leading bitcoin adoption and innovation in bitcoin country El Salvador. He also recently wrote, quoting someone here, the American huddle. If this stockpile isn't bitcoin only, we need to come out strong against it and make it toxic to going forward politically.

[Crypto Analyst]

And Max also wrote here the three.

[Crypto Enthusiast]

Year battle to keep El Salvador shitcoin free has been insane. Bukele gave us leadway we needed to.

[Crypto Analyst]

Protect the country from the coins.

[Crypto Enthusiast]

This has required 24.7 effort that has been entirely self funded. The result speak for themselves. Our friend President Bukele is the most popular leader in the world by far. Coins would have greatly diminished. This ain't telling no lies. So there you have it. Crypto fam and I will be pulling up some of the live charts here. Just give me a second. Pull up the scene on your screen. You should be able to see here in a moment. This is trading View via Coinbase this is the one hour chart. We do have a rising wedge formation looking bullish. We do have a target sent all the way just shy of 118,117, 722 to be exact. And this is very bullish for the one hour chart. And zooming out from the one hour. Take a quick look at a four hour. Four hour chart says it's going up forever. Laura we have that orange target Bitcoin orange that is 130 GS in play. Take me down to the bitcoin city where the energy's clean and the bitties are pretty. Why don't you please stack them stats. How do you like that for a remix? And zooming out from the four hour. We'll check out the one day and the one day chart also shows the rising wedge. Very bullish momentum. We have been creeping and creeping. We're not too far from price discovery right now we're less than 4000 away.

[Crypto Analyst]

Current top is 1083 or yeah around there was it 193 and now I'm forgetting I think it was 193. So the current all time high price discovery is around 109. And zooming out from the daily take a quick look at the weekly chart. We still have the sexy cup and handle target looking bullish as all ever looking like a young Salma Hayek.

[Crypto Enthusiast]

Look at that124,000 cup and handle target in play.

[Crypto Analyst]

That's right. And zooming out from the weekly take quick look at the monthly as you can see on your screen, we're forming a nice green bullish candle for January. Got one week left for February and it is the yeah shout out to all the Aquariuses. I just discovered Max is an Aquarius. Paris Hilton who he orange pilled is an Aquarian and so is your boy right here. So there you go the trifecta. But anyways, November we had the strongest bullish green monthly candle close. We had a corrective in December but we're forming green here already in January. Q4 where do you feel the bitty price action likely takes us next? Holl at your boy and I'm going to read the comments. This is an interesting headline regarding Micro Strategy allegedly having to pay taxes on 19 billion on unrealized gains. What is this all about? Well, let's break this one down. Despite never selling any bitcoin, Micro Strategy may have to pay taxes on its unrealized gains. Sailor's Micro Strategy, the largest corporate bitcoin holder, may have to pay federal income taxes on the unrealized gains according to the Inflation Reduction act of 2022. The act established a Corporate Alternative minimum tax.

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[Crypto Analyst]

Conditions apply, which under MicroStrategy will qualify for a 15 tax rate based on the adjusted version of the company's earnings According to the January 24 report in the Wall Street Journal. Still, the IRS may create an exemption for bitcoin under President Trump. It's more friendly Administration MicroStrategy's holdings surpassed 450, 000 Bitcoin. They were the first publicly traded company to put the biddy on the balance sheet and it's now worth more than $48 billion after company bought 243 million Bitcoin more recently on January 13, right before the Trump inauguration. Here's the micro strategy Bitcoin portfolio as.

[Crypto Enthusiast]

You can see, the the Tracker According.

[Crypto Analyst]

To MicroStrategy's portfolio tracker, the company's Bitcoin holdings have an unrealized gain of just AB billion. The report comes six months after MicroStrategy agreed on June 3rd of 2024 to.

[Crypto Enthusiast]

Pay 40 million to settle a tax fraud lawsuit that has accused it and Sailor of tax evasion. They're trying to make him seem like he's the new Al Capone.

[Crypto Analyst]

The Attorney General the District of Columbia.

[Crypto Enthusiast]

Sued sailor and MicroStrategy in August of 2022, alleging the executive had paid no income taxes in the District for the last 10 years while he lived there. Now, MicroStrategy and crypto exchange Coinbase have pushed back against the corporate alternative minimum tax regulation. Good for them.

[Crypto Analyst]

The two firms have requested that the.

[Crypto Enthusiast]

U S. Treasury and the IRS adjust the rule to exclude unrealized crypto gains. Right. If you got to pay taxes on unrealized gains, do you get tax breaks and credits for the unrealized losses? Asking for a friend so from the adjusted financial statements income to avoid the serious unintended consequences to the US Corporations holding substantial cryptocurrency, the two firms wrote a letter to the lawmakers. This was on January 3. Quoting the letter here, the unforeseen combination of the CAMT and the newly promulgated accounting standard are creating unjust unintended tax consequences. CAMT imposes a 15% minimum tax on the AFSI of any corporation whose AFSI averages at least $1 billion in the priority three year period. And because the standard affects the corporations, AFSI corporations that own enough appreciated crypto to be subject to the CAMT must now pay tax on unrealized gains in the value of that cryptocurrency.

[Crypto Analyst]

According to the letter, Crypto tax laws gained increased investor interest in June of 2024 after the IRS issued a new crypto regulation which will make U S crypto transactions subject to third party tax reporting requirements for the first time starting in 2025. Centralized crypto exchanges and other brokers will start reporting the sales and exchanges of digital assets, including cryptos. According to the irs, the decision aims to help investors file accurate tax returns with respect to digital asset transactions and to address potential non compliance in digital currency. This decision can push crypto investors to decentralized platforms in a paradoxical situation that could take tax revenue harder to track. According to Andy Lynn, author of the Intergovernmental Blockchain and showcasing the crypto industry Black Backlash. The blockchain association filed a lawsuit against the IRS. Good for them. In December of 2024 arguing the rules are unconstitutional. I heard taxes in general are unconstitutional.

[Crypto Enthusiast]

What are your thoughts on that Broskis?

[Crypto Analyst]

Because they include decentralized exchanges under the broker term extending data collection requirements to them. So I bet you Sailor's not so happy on this news. I mean this face says it all. I mean that's quite a lump sum of money if he has to pay 15 taxes on an alleged $19 billion of unrealized gains. And I repeat, unrealized gains. Now quoting Michael Saylor from a more recent interview.

[Crypto Enthusiast]

Soon every billionaire will buy a billion.

[Crypto Analyst]

Dollars of the Biddy and the supply shock will be so great we will stop measuring Bitcoin in terms of fiat. And if you don't know now you know. There's the latest from the Gigachad himself. Headline here reads Similar scient scientific to raise 75 million to fund bitcoin buys as the paper gains near $30 million. That's right. Healthcare tech and software firm Similar Scientific is playing to raise 75 million more to buy the biddy after a reported a 29 million paper gain from the current holdings. Semler said January 23rd on their press release it would raise the millions to a private offering of convertible notes.

[Crypto Enthusiast]

Sound familiar?

[Crypto Analyst]

It sounds like the sailor put from MicroStrategy. So you already know. Set to mature in 2030 with some proceeds going towards corporate activities including buying more bitcoin. In fact, Michael Saylor tweeted, I saw in the last 24 hours something like borrow billions, buy bitcoin. That was the entire tweet.

[Crypto Enthusiast]

Borrow billions, buy Bitcoin.

[Crypto Analyst]

So if you have good credit and you can borrow billions because you're a gigachad, do it and buy some bidding is what he's trying to say. The company also January 23rd released the fourth quarter 2024 earnings result.

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[Crypto Analyst]

Apply Showing the Bitcoin holdings have hit an unrealized gain of $28.9 million. The firm bought 237 Bitcoin January 13, bringing its total to 2321 BTC and its current crypto well Bitcoin trading just above 105. That makes them worth 100 or 241 as far as their Bitcoin holdings, so shout out to them. Semler first bought Bitcoin back in May following the trend of other publicly listed firms that bought the crypto hoping to see gains. Similar shares jumped 30% after it announced its initial buy of 581 BTC May 28. We are excited to continue executing on our Bitcoin treasury strategy, similar CEO shared in a statement also last November. He said Similar Scientific remains laser focused on acquiring and holding the biddy.

[Crypto Enthusiast]

Bitcoin has since seen several new all.

[Crypto Analyst]

Time highs, clocking a peak of 10, 9, 3 ahead of the Trump inauguration.

[Crypto Enthusiast]

That was the Same Morning on January 20th, so that's current price discovery fam.

[Crypto Analyst]

We're roughly 4, 000 away. The rest of Semler's preliminary financial results.

[Crypto Enthusiast]

For the fourth quarter estimate revenue of between 12.1 million and 12 and a half million with operating income ranging from 3.4 to 3.7 million shares. Assembler closed 1.5% down January 23rd and continue to fall over 12% in the after hours trading at 53.75. Meanwhile, other companies including drug maker Hoff Therapeutics, artificial intelligence developer Genius Group and YouTube Alternative Rumble have also bought the Biddy, a Treasury strategy popularized by the GigaChad and MicroStrategy. MicroStrategy now holds 461,000bitcoin worth 48 billion after its latest buy, according to the Sailor Traffic. That's more than any other publicly traded company. BlackRock is an institution probably the wealthiest in the world. They have more than Michael Saylor's company and they just started stacking Bitcoin January 11th of last year. So let that one sink in. Semler's Bitcoin treasury ranks 13th in size amongst public companies and again, first publicly.

[Crypto Analyst]

Traded company, first Movers Advantage, Michael Saylor and theirs is leading with close to 500, 000 of the biddy on the balance sheet. So there you have it. Let's discuss Silk Road founder Ross Albrecht thanking Trump for the full pardon. Here's the latest. Silk Road founder Ross Albrecht, who has been serving a double life sentence plus 40 years without parole, publicly thank u. S President Donald Trump after receiving the full pardon. So respect to the Trumpster. This marked the first time Ulbricht had spoken publicly since being released from the maximum security prison in Arizona, which he was held there more than 11 years, close to 12 years. Quoting him here from the video and let me know if you guys watched it. Last night, Donald Trump granted me a full pardon. I was doing life without parole and I was locked up for more than 11 years, but he let me out. I'm a free man now. So let it be known that Trump.

[Crypto Enthusiast]

Is a man of his word.

[Crypto Analyst]

Very powerful words. Let me know if you saw that video. Albrecht expressed gratitude, calling the pardon been an amazing blessing indeed. Quoting him here. Thank you so much, President Trump for giving me this amazing blessing. I am so, so grateful to have my life back, to have my future back and to have this second chance. This is such an important moment for me and for my whole family. And thanks to Trump's pardon, Ross got to hug his wife, mom, dad and sister outside of the walls of prison. The past 30 seconds, six hours have been a complete whirlwind and we keep pinching ourselves to make sure we're not dreaming. And there's one of the photos. Him with his first hugs to his family members. God bless him. Now life after prison. Albrecht is now 40. So I guess he got locked up then when he was around 29. Convicted in 2015 for his role in creating an operating Silk Road, a darknet marketplace that facilitated the anonymous tradable as.

[Crypto Enthusiast]

A good using bitcoin. That's like saying, yo, Janet Yellen and J Pal need to be locked away because people are using the dollars they print for illicit activity. Lock them up for two and a half lifetimes. You know, it's, it's so illogical. Since the pardon supporters have rallied to help him transition into life outside of prison, A wallet linked to the Free Ross campaign received over 270000 in Bitcoin donations. Amongst contributors is the crypto exchange Kraken, which donated. Oh, I love this number 111. $111 worth of Bitcoin. Other donations included 2400 in Ether, 900 in Solana, 200 in Cardano and the smaller amounts in BNB Indos, quoting them here. It feels amazing to be free, to say the least, said Albrecht, adding that he plans to spend time with his family and heal from his years of incarceration. That's a lifetime of healing family. This is a victory for everybody everywhere who loves freedom and who cares.

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[Crypto Enthusiast]

Well said. And while supporters have donated generously, all break may have already millions of dollars worth of bitcoin. Check this. Conor or Connor Grogan, director of Coinbase reveal 430btc worth roughly 47 million remain untouched. 4/7 is an 11 baby. And while it's likely linked to Albrecht, these wallets dormant for more than 13 years were not not confiscated by the authoritas.

[Crypto Analyst]

Quoting him here, I found 430 bitcoin across dozens of wallets associated with Ross and that were not confiscated by the U. S Government and have been untouched for 13 years. Meanwhile, Arcam Intelligence corroborated the findings, identifying 14 Bitcoin addresses linked to Silk Road, including one wallet containing over $9 million of Bitcoin. I pray that he does have access to that bitcoin and he deserves it, so God bless him. But there you have it. Crypto fam, let me know your thoughts on Ross. Are you happy he's a free man? And thanked. Thank each and every one of you who have been supporting him, you know, behind the scenes with tweets or reposting my tweets. Yeah, I mean, because it was the right thing to do. So kudos to Trump for sticking to his word and making him a free man. He doesn't belong, don't deserve to belong in prison. And yeah, I mean he should have. The US government should be giving him an insane amount of money for what they took away from him, in my opinion. Is that called reparations? Yeah, I mean he should, he should be given like $30 million for taking 11 years of his life, for Christ's sake. But that's my thinking. Let me know your thoughts. I'm going to read your comments out loud. We have 1700 people on the live stream. Next headline is SAB121 rescinded what it Means for Crypto Custody and regulation in 2025 so here's the breakdown for those that don't know the Staff Accounting bulletin In short, 121 rule was introduced by the SEC back in March of 2022 as part of its efforts to regulate crypto custody. It required financial institutions to list any crypto assets they held on behalf of.

[Crypto Enthusiast]

Customers as liabilities on their balance sheets. In essence, it handled these digital assets like conventional custodial assets such as cash or securities.

[Crypto Analyst]

The crypto sector at the time opposed.

[Crypto Enthusiast]

The rule for being burdensome, unduly complicated, and not aligning with the unique nature of the crypto assets.

[Crypto Analyst]

Many in the sector said it would.

[Crypto Enthusiast]

Limit the market's growth and make it more difficult for institutions to provide crypto custody services. For instance, the Government Accountability Office GAO initially called for the congressional review of SAB121, which led the House and Senate vote to resend it. However, then President Biden vetoed the repeal and following Trump's formal inauguration as the 47th president of the United States, the SEC announced the cancellation of this controversial rule on January 23 and introduced SAB122, effectively resending SAB121.

[Crypto Analyst]

Now, did you know? The securities Exchange act of 1934 gave the SEC the authority to regulate exchanges and the financial market, helping shape the legal landscape for custodians as well as asset managers. Now the SEC's decision to rescind SAB 121 came after ongoing criticism from industry stakeholders. U S Representative W or Wiley Nickel noted that the rule may hurt American banks ability to custody The ETPS exchange traded products at scale, which could have led to more power in the hands of the non bank entities. Meanwhile, SEC Commissioner crypto mom Hester Pierce, who now leads the agency's crypto task force, took to social media to express her relief, saying bye bye sab 121. It has not been fun. This sentiment echoed the frustrations of many of the financial services in the crypto sector. Several figures of the industry celebrated the rules resentment, including House Financial Services Committee Chair French Hill, who tweeted that he was pleased to see the misguided SAB121 rule has been rescinded. Definitely a a great look here now Key changes under SAB 122 Liability assessment companies must access whether safeguarding crypto assets creates a liability and measure it using established accounting standards such as Financial Accounting Standards, Board Accounting Standards, Confidential Subtopic OR International accounting standard 37 is 37 provisions.

[Crypto Enthusiast]

Contingent liabilities and content and assets. That's a mouthful.

[Crypto Analyst]

Also, Retrospective application. The changes apply retrospective effectively for annual periods starting after December 15, 2024, with an option for early adoption in the SEC filings. Also, enhanced disclosures Companies must continue providing detailed disclosures about safeguarding the obligations, ensuring investors understanding associated risks as well as obligations.

[Crypto Enthusiast]

So yeah, let's understand SAB121 versus SAB122 using an example. Imagine a company that safeguarded 1 million in crypto for customers.

[Crypto Analyst]

The entire 1 million was recorded as.

[Crypto Enthusiast]

A liability on the balance sheet under SAB121, inflating financial obligations. And under SAB122, only the estimated risk of loss such as 20,000, which is 2% of the total, is actually recorded. Aligning with standard accounting practices in the above example, 2% loss figure is hypothetical. SAB122 requires institutions to calculate the actual risk risk of loss using their own data and risk assessments rather than assigning an arbitrary percentage. Now what does the resending of SAB121 mean for the crypto custody and regulation? Here's where it matters. The repeal of SAB121 simplifies crypto custody, encouraging banks adoption and boosting trust and traditional finance. It ultimately gives the banks to go ahead to actually custody the Bitcoin as PR collateral, which is precisely what it will do, which will lead to the Bitcoin back loans family. Let's find out what it means. Simplified Custody Operations Streamlining custody processes for organizations that custody the crypto on behalf of their clients is one of the immediate advantages. Businesses will probably find it simpler to manage these assets within their existing systems if they're not required to classify crypto as liabilities. Also increase trust in crypto custody. The general public may trust traditional financial firms that provide crypto custody as they abandon cumbersome and unnecessary regulations. This might represent a turning point in closing the divide between conventional finance and the crypto space and encouragement for banks to enter the crypto market. The resending of SAB s or 121removes the major barrier of traditional banks looking to offer crypto custody services. By eliminating the requirement to treat crypto as a liability, banks may be more inclined to enter the crypto space knowing they won't face overly complex accounting requirements. This could lead the greater institutional involvement.

[Crypto Analyst]

In the crypto market. So there you have it. Yo.

[Crypto Enthusiast]

Let me know your thoughts on the.

[Crypto Analyst]

SAB121 being rescinded and banks having the go ahead to now custody of bitcoin.

[Crypto Enthusiast]

As per seing collateral as they should.

[Crypto Analyst]

Have been doing for a very long time now. Now for our featured story of the day. Trump's executive order a game changer for the institutional crypto adoption. Also, Trump signed the executive order to evaluate the strategic bitcoin and crypto reserve to ban central bank digital currencies, which we know is CBDCs as well as boost the stable coins. Let's break all this down. You should be able to see on your screen. Let's start right here with the CBDC ban. Trump's executive order banning the creation of.

[Crypto Enthusiast]

CBDCs in the US could mark a.

[Crypto Analyst]

Significant shift in institutional crypto adoption according to industry executives. The executive order was signed January 23rd, which was yesterday prohibiting the establishment, issuance.

[Crypto Enthusiast]

Circulation or use of CBDCs, citing concerns.

[Crypto Analyst]

Over their potential to threaten financial system.

[Crypto Enthusiast]

Stability, including privacy and national sovereignty.

[Crypto Analyst]

This is very powerful. I love to see that he signed this. The executive orders CBDC ban is a game changer for the crypto industry in the U. S according to Andy Lynn, author of the Intergovernmental Blockchain Advisor. Likewise, the new crypto task force signals a clearer, more structured crypto regulatory landscape.

[Crypto Enthusiast]

Do you hear that, Gensler? Thank God you've resigned.

[Crypto Analyst]

You're no longer in power.

[Crypto Enthusiast]

The war on crypto is over.

[Crypto Analyst]

Tell your bosses and your handlers there's.

[Crypto Enthusiast]

A new chairman in town and you're looking at him.

[Crypto Analyst]

His name is the Nipinator. But anyways, quoting them here, this isn't just about setting rules. It's about setting the stage for crypto to play a bigger, more legitimate role in the economy. This clarity could lure in the big investors who have been sitting on the.

[Crypto Enthusiast]

Sidelines, the mega whales, the billionaires waiting.

[Crypto Analyst]

For something like this to make their next move. Checkmate. We already won. The executive order could also catalyze crypto payment adoption amongst larger financial institutions in the U.S. according to economist Alex Krueger, who said institutions will start using blockchain for payments and tokenization. And while the CBDCs have been lauded for their potential to increase financial inclusion, critics have raised concerns about their surveillance.

[Crypto Enthusiast]

Capabilities and potential for government overreach. It's, it's a guarantee. I mean, what can go wrong when.

[Crypto Analyst]

Central bankers have programmable money?

[Crypto Enthusiast]

Everything In July of 2023, Brazil Central.

[Crypto Analyst]

Bank published the source code for its CBDC pilot. Boo. And it took four days for the.

[Crypto Enthusiast]

People to notice the surveillance and control mechanisms embedded within the code, allowing the central bank to freeze or reduce user funds within your CBDC wallets. Imagine putting a tweet out that goes.

[Crypto Analyst]

Against the status quo. And then they're like up, we just.

[Crypto Enthusiast]

Froze all your CBDC money. That's precisely what they would be able to do and precisely what they will do. We'll have social credit, the whole nine. Just imagine what's going on in China. Even worse if we get CBDCs. And as of May of 2024, 140 countries were working on CBDC pilots with China's digital UN being one of the most advanced. Boo. Now the executive orders ban CBDCs. This is a curveball for crypto and the wider financial industry that signals a bet on the crypto industry. This move tells you where Trump stands. He's betting on the existing crypto market rather than creating government backed digital dollars. It is a vote of confidence in bitcoin, Ethereum and others, potentially giving them a boost in legitimacy in the market. Value value and another trustworthy development. The executive order will exclude the U. S Fed and FDIC from crypto working groups. Good. This may put an end to the previous crypto industry to banking efforts. Good. Trump's crypto executive order excludes the Fed and FDIC from the digital asset working group.

[Crypto Analyst]

Both tried to kill the industry through.

[Crypto Enthusiast]

Debanking and especially targeted my company Custodia Bank. Both belong on the outside. Nature is healing. You tell him.

[Crypto Analyst]

Caitlyn Long and Shane telling no lies. During the Biden admin, multiple crypto firms.

[Crypto Enthusiast]

Were denied access to banking services and what some insiders described as an orchestrated effort dubbed operation choke point 2.0 aka the war on crypto is finally over. Can I get a hallelujah? Can I get a name in?

[Crypto Analyst]

And let's dive into this as well. Trump signed the executive order to evaluate the creation. So we didn't get the strategic reserve.

[Crypto Enthusiast]

Bill passed because it has to pass.

[Crypto Analyst]

These other parties first before Trump even has the opportunity.

[Crypto Enthusiast]

But something he did do was take a step forward with an executive order to evaluate keyword evaluate the creation of the strategic national bitcoin and crypto stockpile. And this has created a lot of controversy. People are saying XRP should not be included. You know that's the technology for the CBDCs. So if Trump is truly anti CBDC, why would he allow cryptos such as XRP to be stockpiled by the United States knowing their intent is to create the CBDCs. Do you understand? So anyways, the order entitled Strengthening American Leadership in Digital Financial Technology states the Administration supports the reasonable growth and use of digital assets and blockchain tech.

[Crypto Analyst]

The Order revokes President Biden's previous Digital.

[Crypto Enthusiast]

Asset Directives, creates a new Work Working.

[Crypto Analyst]

Group that will coordinate and propose a.

[Crypto Enthusiast]

Unified regulatory approach to digital assets within 180 days.

[Crypto Analyst]

That's virtually six months fam quoting them here.

[Crypto Enthusiast]

The Working Group shall evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile potentially derived from cryptos lawfully seized by the Fed through its law enforcement efforts. No more selling the Biddy. The Executive Order also demands all Federal agencies to halt any actions related to the development of the government backed digital version of the dollar CBDCs while analyzing how the US can promote the development and growth of lawful and legitimate dollar peg stable coins created in the private sector. Meanwhile, the Treasury Department, the Department of justice, the doj, securities and Exchange Commission, the SEC and other relevant agencies have 30 days to identify and submit all regulations, guidance documents, orders or other items that affect the digital asset sector. U S Banks are also instructed to provide fair and open access to banking services for all law abiding individual citizens and private sector entities alike amid accusations that legitimate crypto companies were denied banking services under the previous administration with a war on Crypto with a Biden administration. Goodbye Kamala. Goodbye Biden. Goodbye Hunter. And goodbye all of you criminals, drug traffickers, anti money laundering, tax avoidance. So as I tweeted here, CBC's banned in the USA. We got to do a remix like born in the USA CBDCs or CB.

[Crypto Analyst]

DCs band in the USA $2.2 million in play. You feel me? And shout out Shandy 10 Music. She made this post yesterday alongside the music video. We'll play the music video shortly.

[Crypto Enthusiast]

Puerto Rico Bitcoin Party Anthem is here.

[Crypto Analyst]

This song was created to celebrate Crypto.

[Crypto Enthusiast]

News's 100K Bitcoin Fiesta in Puerto Rico.

[Crypto Analyst]

Tickets are going fast.

[Crypto Enthusiast]

Details below. And to my CNA family at the Bitcoin Cafe.

[Crypto Analyst]

You are the most loyal, compassionate, inspiring.

[Crypto Enthusiast]

People I have ever known. Over the past nine months we have.

[Crypto Analyst]

Built something truly special.

[Crypto Enthusiast]

A connection that goes beyond bitcoin.

[Crypto Analyst]

From checking in on each other during tough times to sharing laughs and celebrating milestones, you have shown me that kind, kindness, compassion and loyalty are bitcoiner traits. It seems proven you have had my Back in ways I will never forget.

[Crypto Enthusiast]

And I can't wait to meet y'all in Puerto Rico to celebrate together. Pretty little bitty going up.

[Crypto Analyst]

And if you're interested in copying your tickets, there's only a few left. It's 100k.cryptonewsalers.net or 100k bitcoin.eventbrite.com or you can just go to Eventbrite which is where we're selling Tickets. Type in 100k or Bitcoin. I'm sure it'll come up as it's a featured event as tickets are going very, very fast and I'll just touch upon some of the things you can expect at the party. You should still be able to see the screen hopefully. Let me know if you can. But anyways, these are some of the AI images Chandi put together which just represent this celebration, this fiesta where we're all coming together in puerto Rico in 15 more days. Here's an actual photo for the VIP day of the island, Caicos island, which we will be visiting on a snow snorkeling tour on the boat.

[Crypto Enthusiast]

And it's actually the name of the boat is Kraken. You can't make this ish up but.

[Crypto Analyst]

It'S going to be a great time. We're going to have a live dj, we're going to have a photographer there taking great photos. It's going to be an awesome time to celebrate and network with fellow bitcoiners. Yeah, I mean it's going down February 8th between 8pm and midnight. It's at the Sandbox and Cadado Ocean Club which is off of Ashford. It's great, you know, great venue. Frequently asked questions. This will get all your questions answered. I do have recommended hotels from three.

[Crypto Enthusiast]

Stars to five stars. Anything from 200 a night up to 900 a night.

[Crypto Analyst]

We're actually holding the event at the Condado Ocean club.

[Crypto Enthusiast]

It's a four star property.

[Crypto Analyst]

If you want to stay there, it's 571 a night.

[Crypto Enthusiast]

If you're trying to save money to stack more sats, I get it.

[Crypto Analyst]

You guys could room with a fellow.

[Crypto Enthusiast]

CNA member and split the cost. You know, instead of 212 a night, drop it down to a Honda, whatever it takes, just get to the party. Where would you fly into? San Juan International is the only international airport. How far is the event from the airport? 15 minute Uber drive. Very easy VIP ticket.

[Crypto Analyst]

We'll touch upon that a little deeper here in a second. General admission is going to get you entry into the fiesta for networking and also includes food and drinks. Is Condado, Puerto Rico safe for tourists this year? Yes, it is the safest and nicest upscale neighborhood in all of San Juan. Hence why my daughter goes to school off of Ashford. Can I bring my kids to the party? No, unfortunately there's going to be drinking so it's for adults only. However, you can bring your kids to to Puerto Rico and you know, have them entertained. Maybe get a babysitter or bring a loved one or something like that. Can I bring my spouse to the party?

[Crypto Enthusiast]

I recommend it.

[Crypto Analyst]

Is Pastor passport required to fly here from the usa? No, the United or Puerto Rico is the commonwealth and territory of the usa so therefore no passport is required. If you're traveling from the mainland, how many days should you stay? Completely up to you. Will the event be streamed online?

[Crypto Enthusiast]

Nope.

[Crypto Analyst]

What happens here stays here in Puerto Rico. What's the weather like? Amazing, beautiful weather year round. Especially in February. It's in the 80s. Mid-80s is what you can expect. Can I pay with bitcoin?

[Crypto Enthusiast]

Yes, absolutely.

[Crypto Analyst]

Can I pay with a bitcoin lightning network? Yes, absolutely. Now let's get a little deeper into the tickets. When you click get tickets you're going to notice only a few are left. Family. Currently four general admission tickets left. They're only 197 each. There's a 15 fee. That's like merchant processing. Eventbrite collects the money, FYI, not I. And that's just how it works. If you want to avoid that fee you can pay with bitcoin and circumvent.

[Crypto Enthusiast]

The middleman and show moves by false.

[Crypto Analyst]

I know bring facts did it. But anyways, that's a general admission ticket. There's only four left. Vip. There's only four left as well. There's only so many people I can bring on the boat and here's ultimately what the excursion includes. VIP Day Island Snorkel Boat tour All inclusive. Caicos Island. It lies a half hour from Farado. Enjoy the Golden Sands rich coral reef on the snorkeling tour. It's going to be very scenic family. All equipment is provided. Clip on flotation devices plus guides will help identify tropical species and help us find good spots for epic photos. And after snorkeling enjoy a deli style buffet lunch and open bar with soft.

[Crypto Enthusiast]

Drinks, water and Puerto Rican rum. Snorkel the rich reef of Coos Islands.

[Crypto Analyst]

And see the key nature reserve Stay fuel with the deli style buffet and all you can drink Puerto Rican rum. Guides help find the best spots to Yep. And full snorkeling gear is provided. The marina is approximately, approximately 60 minutes away from Condado. I will provide a transportation from Condado to Farhado just FYI and transportation back. So I got it all undercover. We're going to leave roughly 12pm if you're riding with us and that's for the VIPs. This excursion is only for VIP day So there's ultimately two options. You have general admission just for the.

[Crypto Enthusiast]

Party 197 or VIP day is 597.

[Crypto Analyst]

And it's all inclusive and tickets are.

[Crypto Enthusiast]

Going fast as you can see here. Again, there's only four of each left so take advantage of it if you're looking forward to going there. Looking forward to seeing you. It's going to be fun. 100k Bitcoin Fiesta. Let's freaking go.

[Crypto Analyst]

And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in our live Q A. And I look forward to seeing you on tomorrow's episode Hoddle.