During the White House Crypto Summit on Mar 8, 2025, government officials and crypto industry leaders discussed major policy changes under US President Trump’s administration. Trump confirmed that US banks can now custody crypto assets, following his pledge to end “Operation Choke Point 2.0”, a regulatory initiative that had restricted banks from providing financial services to crypto firms. The Office of the Comptroller of the Currency (OCC) officially announced the policy shift after the summit. He also reiterated that the US government will not sell any of its Bitcoin holdings and that its Bitcoin assets will be converted into a strategic reserve under the executive order issued earlier that week. The Treasury and Commerce Departments have been instructed to develop new methods for acquiring additional Bitcoin for the reserve, with a separate US Digital Asset Stockpile established to hold non-Bitcoin digital assets, which could include ETH, XRP, ADA and SOL.
Despite these announcements, the crypto market saw a 3% decline on Friday following the summit. The global crypto market cap is currently $2.65tn, a 3.84% decrease over the last day, with the upcoming US CPI on Wednesday and PPI on Thursday potentially increasing volatility for risky assets like crypto. While job growth remains steady, rising labor costs and inflationary pressures could challenge expectations for multiple Fed rate cuts.
US crypto spot ETF data continued showing weakness, with over $433 million outflow on Friday Mar 7 and $312 million on Monday Mar 10.
According to Lookonchain and Arkham Intelligence data, Mt. Gox transferred another 11,833.6 BTC ($931.19m) today, of which 11,501.58 BTC ($905.06m) was transferred to a new wallet and 332 BTC was transferred to a warm wallet.
Despite the global market cap losing 16.9% in the past month, Real World Assets on chain have gained 16.78%. Total stablecoin circulating supply has also continued increasing
El Salvador added 13 Bitcoins to its reserves since Mar 1, despite the International Monetary Fund's (IMF) pressure to halt purchases as part of the conditions of the $1.4 billion loan it granted.
