YM Lee

There is a forecast that stablecoins will grow as a 'banking infrastructure alternative' that supports billions of people around the world to access financial infrastructure. On the 1st (local time), Dan Morehead, founder of Pantera Capital, stated in a keynote speech at Token 2049 Dubai, held at Madinat Jumeirah, Dubai, "Stablecoins will enable over 5 billion people who have difficulty accessing finance to access financial services and will gradually evolve into a user-driven governance-based financial infrastructure that replaces banking functions." He also predicted that technologies such as tokenized bonds and blockchain mortgages based on stablecoins will rapidly develop. He explained, "Technologies such as scaling, user convenience, and tokenization are rapidly advancing. In particular, there are already successful projects like the $40 billion blockchain mortgage by Figure Markets and the $1 billion tokenized bonds by Ondo Finance." He also foresaw that the national strategic assetization of Bitcoin will intensify. Dan Morehead said, "The United States already holds 1% of Bitcoin. China is already showing movements to strategically stockpile Bitcoin, and it is expected that the competitive landscape of Bitcoin among countries will expand in the future."

Arthur Hayes, a well-known figure in the virtual asset (cryptocurrency) market and the founder of BitMEX, who is also serving as the Chief Investment Officer (CIO) of Maelstrom, stated that now, when everyone feels uneasy, is an opportunity to aggressively buy assets. On the 30th (local time), Arthur Hayes emphasized in his keynote speech at the Token 2049 Dubai conference held at Madinat Jumeirah, Dubai, "In 2025, the uncertainty in the current global economy and financial markets is escalating. A similar opportunity to the market bottom in 2022 is approaching." He viewed the current time as a similar opportunity to the third quarter of 2022. Arthur Hayes said, "In 2022, as central banks around the world rapidly raised interest rates, asset prices fell significantly, and U.S. Treasury bonds recorded their worst returns since 1812, but the market began to recover right after the FTX bankruptcy." He added, "Just as many investors hesitated to buy Bitcoin out of fear back then, investors will face a similar situation this time as well." He also maintained the outlook that Bitcoin will reach $1 million by 2028. He emphasized, "The structural changes in the global financial markets, as they are now, will eventually work in favor of virtual assets, including Bitcoin. Bitcoin will reach $1 million by 2028."

Exclusive Interview with Former People's Power Representative Han Dong-hoon "The Democratic Party doesn't understand the essence of digital assets" "Taxing coins is practically difficult... Transaction tax is an alternative" "Domestic conglomerates should be allowed to participate in the ecosystem" "Stop 'regulation-oriented policies'... ICOs should be allowed" "Looking at former remarks by Representative Lee Jae-myung, it is clear that the Democratic Party still does not understand the essence of digital assets. The Democratic Party fails to grasp the flow of economic and technological development and takes an 80s approach of interpreting everything ideologically." On the 10th, Han Dong-hoon, former representative of People's Power (pictured), who declared his candidacy for the presidential election, raised his voice in criticism of the Democratic Party's direction in promoting virtual asset (cryptocurrency) policies in an exclusive interview with Bloomingbit. Former Representative Han said, "The Democratic Party is making statements that neglect the substantial industrial development, such as 'virtual asset democracy,'" and pointed out, "If the two-year deferment of virtual asset taxation, which was dramatically concluded at the end of last year, had been rejected as initially claimed by the Democratic Party, a serious outflow of foreign capital would have occurred." With the early presidential election on June 3 confirmed and each party starting their primary elections, the interest of '16 million' virtual asset investors is focused on the virtual asset policies of each party's candidates. In response, Bloomingbit gathered questions from virtual asset investors and posed them to former Representative Han. ▷The Democratic Party has recently held a series of seminars and forums related to virtual assets and even created a special committee on digital assets. On the other hand, People's Power is relatively quiet. It seems the party has no room to care about digital asset issues. ▷Former Democratic Party Representative Lee Jae-myung is interested in the virtual asset field, and it is known that reports on virtual assets have been made in the policy committee as it affects young voters. Looking at former remarks by Lee Jae-myung, such as 'registering all transactions,' it is clear that even with the formation of a special committee and holding seminars and forums, they do not understand the essence of digital assets at all. In financial-related blockchain technology, the most important 'transaction record' is centered on private chains rather than public chains where anyone can participate. There is an opinion that the issuance of tokenized U.S. Treasury bonds will also use these private chains. Public chains have issues related to regulatory compliance, transaction speed, and data privacy. In other words, the digital asset system is expected to proceed organically by dividing and merging centralized private chains and decentralized public chains based on economic efficiency rather than the ideological approach of 'decentralization.' The ideology of 'virtual asset democracy' mentioned by the Democratic Party is a statement that neglects industrial development. They do not know what economic development is, what technological development is, and interpret everything ideologically with an 80s approach. ▷What is the biggest obstacle to domestic virtual asset regulatory innovation? In 2017, when the price of Bitcoin first surged significantly, it became a major topic worldwide. It was the first year of the Moon Jae-in administration, and key government officials were out of sync, announcing confused measures. Although the control or regulation of exchanges was inevitable for investor protection, it was so suppressive that there were even opinions to close exchanges. It was a situation of regulatory vacuum where the so-called system for the issuance and trading of virtual assets was delayed, and this regulatory vacuum seems to have approached as a barrier that delayed investment in virtual assets or blockchain technology and failed to respond quickly to changes in the market environment. ▷There is also criticism that the competitiveness of the domestic virtual asset industry has rapidly declined since the ban on Initial Coin Offerings (ICOs). In the early stages of the digital asset market, the risk of fraud was indeed high, and exchanges were also in their infancy, making it difficult to filter out the risk of ICO fraud and subsequent price manipulation. Moreover, given the characteristics of the Korean market, where the proportion of individual transactions is excessively high, the risk of financial fraud or price manipulation was also high. However, now exchanges have grown in size and have the capacity to establish investor protection systems. The phenomenon of asset tokenization is also difficult to prevent. Accordingly, I think we should analyze the nature of ICO tokens by referring to overseas market approaches and open the (domestic) market. ▷Last year, you voiced that virtual asset taxation should be postponed along with the abolition of the financial investment tax. In fact, there were many issues with the tax itself related to virtual assets, such as equity issues with other assets. In such a situation, taxation on profits was scheduled to be introduced from this year, so I took the lead in blocking it last year. ▷You also mentioned on a recent YouTube channel that "it is realistically difficult to establish an infrastructure for virtual asset taxation." Domestic virtual asset exchanges have been following the Travel Rule since 2022, so they know who is moving digital assets. Therefore, if digital assets are only traded domestically, they can be taxed. But the next problem arises. If our citizens trade on domestic exchanges and then send virtual assets to overseas accounts, we cannot know what they do next, whether they convert to Tether or buy something else, so there is no way to know how much profit they made with digital assets. ▷Are you saying that unless overseas exchanges also apply the Travel Rule, it is realistically difficult to tax virtual assets? Our country cannot tell overseas exchanges to follow the Travel Rule (by our standards) just because we want to collect taxes. If taxation starts in this infrastructure situation, only investors using Korean exchanges will pay taxes. Ultimately, digital assets would have rapidly flowed overseas. Therefore, taxing profits is not desirable in the current situation, and if necessary, a transaction tax can be considered. ▷The U.S. views virtual assets as a national strategic asset. Shouldn't we also need this approach? A strategic approach is, of course, necessary. However, whether to approach it like the U.S. requires understanding why the U.S. is taking such actions. Behind Trump's promotion of Bitcoin, etc., is the competition for dollar hegemony and payment network hegemony. China is showing the most active global stance on CBDCs, ultimately aiming to penetrate the dollar hegemony and the U.S.-centered payment network (SWIFT). Also, last summer, Saudi Arabia did not renew the petro-dollar agreement with the U.S., shaking a major pillar that played the most important role in securing the dollar's status. In this context, it is understandable that the U.S. supports dollar-linked stablecoins to maintain or increase demand for the dollar. However, following the U.S. is not always the best. I think our country should clearly define the definition and requirements for stablecoins so that citizens can enjoy a wider and more stable asset choice. At the same time, I don't think we should close the door on CBDCs. ▷Do you think domestic virtual asset ETFs should be allowed? For the virtual asset market to develop, attracting institutional investors is necessary, and virtual asset ETFs are needed as a means to activate this. In fact, Korean individual investors can already trade Bitcoin or Ethereum without exchanging stablecoins as long as they have a bank account, so the necessity of ETFs is not great. However, institutional investors are different. There are positive aspects of making virtual asset investment much easier through Bitcoin and Ethereum ETFs, and it is expected that the entry of institutional investors will have a positive impact on securing market liquidity and transparency. However, there are still issues regarding the virtual assets themselves for corporations and the fair taxation of ETFs, so these need to be discussed simultaneously. ▷Overseas, institutions for promoting virtual assets and Web3 are being established. Don't we also need them? In places like Singapore and the United Arab Emirates, institutions are being created to promote virtual assets and Web3. However, unlike Korea, these countries have a weak manufacturing base, so such a stance is important. I think it is first to deregulate and promote self-sustaining industrial development relying on our citizens' digital literacy. ▷Do you think fostering the virtual asset industry helps young investment opportunities and national growth strategies? In principle, it certainly helps. Blockchain technology is also advanced technology that can assist in managing transaction records and automating contracts. From this perspective, the development of virtual asset technology should be encouraged. If we look at priorities, industries that should be fostered from an economic security perspective, such as artificial intelligence (AI), bio, quantum computing, advanced semiconductors, and humanoid robots, are already determined, and especially Korea, as a strong country in advanced manufacturing, has strengths in these areas. Therefore, for young investment opportunities and national growth strategies, it would be effective from a policy perspective to prioritize investment in fields such as AI, bio, and advanced semiconductors (including blockchain). ▷There is criticism that domestic virtual asset policy is more focused on regulation, taxation, and protection than industrial development. What points need to change for industry activation? First of all, conglomerates need to enter and develop the ecosystem. Overseas, large companies like IBM, VISA, and Bank of America (BOA) are entering and rapidly growing the virtual asset industry. Since blockchain, the core technology of virtual assets, is fundamentally a general-purpose technology like AI, innovation by small and medium-sized enterprises is also necessary, but large-scale investment must be combined for the industry to develop. According to the 2024 blockchain status survey in Korea, more than 45% of related companies have sales of less than 1 billion won. The proportion of development-stage companies like venture companies or innovative companies is excessively high, so growth momentum is not gaining. It seems necessary to create a regulatory environment where conglomerates can enter future blockchain technology development. Also, the development direction of blockchain technology centered on the financial market seems most reasonable. Overseas, financial companies like Citi and JP Morgan are leading the way in blockchain industry development by streamlining financial transactions through smart contracts. Especially since the trend of tokenizing all assets cannot be stopped and is coming quickly, it is necessary to build a financial system where these tokenized assets can be traded, and related technology development must also be accompanied. Young-min Lee, Bloomingbit Reporter 20min@bloomingbit.io

Bitcoin (BTC) is experiencing a sharp decline due to the aftermath of Trump's reciprocal tariff bomb. As of the 7th, Bitcoin (BTC) is trading at $75,000 on the Binance Tether (USDT) market, down 9.80% from the previous day. The decline in altcoins is even more severe. Ethereum (ETH) is trading at $1,459, down 19.04% from the previous day, and XRP is trading at $1.6731, down 21.24%. The sharp decline is also leading to large-scale futures position liquidations. According to data from the on-chain cryptocurrency platform Coinglass, futures position liquidations in the past 4 hours have totaled $413 million, with long positions accounting for 95.14% of that.

Virtual Asset Investment Insight Forum 2025 Bitcoin Demand Declined Sufficient Institutional Liquidity with Spot ETFs Long-Term Outlook Remains Positive Ju Ki-young, CEO of the on-chain analysis platform CryptoQuant, emphasized at the 'Virtual Asset Investment Insight Forum 2025' held at Conrad Hotel in Yeouido, Seoul on the 25th that despite the recent downturn, Bitcoin still holds a solid outlook. CEO Ju analyzed the bull market that unfolded after Trump's election, stating, "Blockchain is an asset where payment and settlement occur simultaneously, allowing all data to be quantitatively analyzed. This bull market was driven by institutional nominal demand such as △ increased demand within institutions △ increased demand for Exchange-Traded Funds (ETFs)." Ju viewed that the market is becoming more robust due to institutional participation driven by the active stance of the U.S. He said, "Last year, approximately 500 trillion won of funds flowed into the virtual asset market, and the U.S. share of Bitcoin also increased sharply. The buying trend of ETFs and MicroStrategy is also significantly contributing to market stability." He also mentioned that despite the recent decline in demand, the long-term outlook for Bitcoin remains bright. CEO Ju stated, "Although we can see a slight decline in demand in the ETF and custody markets recently, the Bitcoin hash rate is steadily increasing, and the mining scale is expanding, so I don't think there will be a large-scale sell-off due to market downturn contagion risks as in the past. The long-term outlook is still bright." Regarding altcoins, he analyzed, "Only some altcoins that can attract new funds from institutions selectively are showing an upward trend. This rise occurred under institutional leadership, so capital rotation into altcoins as in the past has not been significantly carried out." He emphasized that the Korean market should also build a market ecosystem in line with the global trend of expanding around major assets. CEO Ju said, "The domestic virtual asset market is overly skewed towards altcoin trading. Of course, we need to consider factors such as the prohibition of corporate accounts, but due to these characteristics, the domestic market is sometimes regarded as a liquidity window for overseas projects. It is desirable to form a healthy market ecosystem centered around major assets such as Bitcoin domestically."

Virtual Asset Investment Insight Forum 2025 Accelerating Innovation Based on Stablecoins Maximizing Trade and Financial Efficiency "Blockchain technology, including stablecoins, has emerged as a central pillar redefining global trade and capital markets." Rahul Advani, Head of Asia-Pacific Policy at the enterprise blockchain solution company Ripple, emphasized the importance of stablecoins and the tokenization market at the 'Virtual Asset Investment Insight Forum 2025' held at Conrad Hotel in Yeouido, Seoul, on the 25th. The Key to Adoption in the Virtual Asset Industry is 'Stablecoins' Rahul Advani believes that the expansion of the Asian digital asset market in 2025 began with the rapid rise of 'stablecoins.' He stated, "Stablecoins are no longer a niche technology. As digital assets linked to existing fiat currencies, they provide price stability, efficiency, and liquidity, establishing themselves as a major pillar of the global financial system." Stablecoins are already being utilized in numerous virtual asset payment solutions, including Ripple. The massive changes in the financial market being implemented in real-time are happening in reality. He predicted that as regulatory bills for stablecoins are being prepared by numerous global regulatory authorities, including those in the United States and Europe, the influx of institutions and use cases will rapidly increase. Rahul Advani emphasized, "Regulatory frameworks are being established in many countries, including the European Union's basic regulatory framework for virtual assets (MiCA) and stablecoin bills in the United States and Hong Kong," adding, "If clear regulations on stablecoins are added in Korea, institutional investment inflows, liquidity expansion, and real-life use cases can be significantly expanded." Institutions Interested in Virtual Asset Custody… Need to Build Regulatory Framework As institutional demand for entry into the digital asset market increases, the regulatory framework related to virtual asset custody must also be rapidly established. Rahul Advani stated, "For institutions such as banks and asset management companies to enter the digital asset industry, security and a regulatory framework are essential," adding, "Korea must also establish a custody framework that meets international standards while ensuring investor protection and financial stability." He continued, "Regulatory-based custody solutions will be the foundation for the widespread adoption of digital assets, from stablecoins to tokenized securities," adding, "Ripple is also leading the development of custody solutions with numerous institutions." Maximizing Financial Efficiency through Real-World Asset Tokenization He cited Real-World Asset Tokenization (RWA) as the most groundbreaking trend in the first half of 2025. Rahul Advani explained, "Global financial institutions have a tremendous interest in tokenization technology. Converting real assets to a blockchain basis offers various advantages, such as 24-hour trading support, reduced settlement times, and reduced intermediary costs through smart contracts." Numerous global financial companies, including BlackRock and JPMorgan, and regulatory authorities such as the Monetary Authority of Singapore (MAS) have been conducting pilot projects on the tokenization of deposits and financial products for several years. Regarding the domestic market, he advised, "Korea also has significant opportunities in the tokenization market, but at the same time, a clear regulatory framework is needed. Key issues such as classification criteria for tokenized assets, the roles of financial institutions, encouraging innovation, and responsible risk management must be addressed."

Virtual Asset Investment Insight Forum 2025 Trump Accelerates Crypto Innovation Post-Election Global Virtual Asset Hegemony Competition to Intensify Yongbeom Kim, CEO of Hashed's think tank Hashed Open Research (HOR), emphasized that the competition to preempt Bitcoin in the global financial market has already begun. On the 25th, at the 'Virtual Asset Investment Insight Forum 2025' held at Conrad Hotel in Yeouido, Seoul, CEO Kim analyzed that the fusion of traditional finance and crypto is accelerating financial innovation due to the U.S.'s pro-virtual asset policy. CEO Kim stated that recent U.S. actions related to virtual assets should be particularly noted. He said, "In the White House, where President Trump was inaugurated, there is a dedicated advisor for virtual assets and artificial intelligence (AI), known as the Crypto Czar. A deputy minister-level official is in charge of the industry, and the fact that a Crypto Summit led by the president is being held shows the industry's sincerity," he said. He also mentioned that Trump's policy is creating rapid innovation in the industry, such as the adoption of Bitcoin as a strategic reserve asset. CEO Kim said, "Recently, President Trump signed an executive order adopting Bitcoin as a strategic reserve asset. Although he did not mention additional purchase plans that the market was expecting, the fact that a new asset, which has only been around for about 10 years, has become a strategic reserve asset of the U.S. is of great significance," he said. He added, "The future economy is expected to move towards an infrastructure where borders are blurred and transactions can be made at any time. The U.S. is preempting the Bitcoin and stablecoin industries to seize this. Various countries and corporations, including China, are also entering the competition," he added. He advised that Korea should also follow the global trend. CEO Kim emphasized, "Korea is showing a contrasting attitude to the U.S., which is actively promoting the virtual asset industry. Despite the U.S. government and global financial companies like BlackRock and JPMorgan continuing crypto innovation, domestic authorities are showing a very cautious attitude and ignoring it. Active discussions on major areas such as stablecoins are necessary," he emphasized.

<Key Economic Events for Next Week> ▶︎Monday, 17th: △ US February Retail Sales (Korea time 21:30, local time 08:30) △ ECB President Lagarde's Speech (Korea time 23:00, local time 15:00) ▶︎Tuesday, 18th: △ US February Export Price Index (Korea time 21:30, local time 08:30) △ US February Housing Starts (Korea time 21:30, local time 08:30) ▶︎Wednesday, 19th: △ Japan Interest Rate Decision (Korea time 12:00, local time 12:00) △ Eurozone February Consumer Price Index (Korea time 19:00, local time 11:00), △ US Crude Oil Inventories (Korea time 22:30, local time 09:30) ▶︎Thursday, 20th: △ US Federal Reserve Interest Rate Decision (Korea time 03:00, local time 14:00) △ UK Interest Rate Decision (Korea time 21:00, local time 13:00) △ US Initial Jobless Claims (Korea time 21:30, local time 08:30) △ US March Philadelphia Fed Manufacturing Index (Korea time 21:30, local time 08:30) ▶︎Friday, 21st: △ European Union Leaders Summit (Korea time 19:00, local time 11:00) <Key Cryptocurrency Events for Next Week> ▶︎Monday, 17th: △ Ronin(RON) Cerastes Upgrade △ Solana(SOL) CME SOL Futures Trading Launch ▶︎Tuesday, 18th: △ The Open Network(TON) Ecosystem AMA △ KAITO Voting Rights Rebalancing ▶︎Wednesday, 19th: △ Mantle(MNT) Mainnet Hard Fork ▶︎Thursday, 20th: △ BNB(BNB) Pascal Hard Fork △ Starknet(STRK) Staking V2 Official Vote ▶︎Friday, 21st: △ Immutable X(IMX) Token Unlock

WorldLibertyFinancial (WLFI), a decentralized finance (DeFi) project led by Donald Trump's family, has reportedly purchased additional Avalanche (AVAX) and Mantle (MNT) worth $4 million. According to Arkham Intelligence data on the 16th (local time), WorldLibertyFinancial used a total of 4 million USDT to purchase 103,911 AVAX and 2.45 million MNT. Currently, WorldLiberty has purchased a total of 11 tokens using $340 million and is recording an unrealized loss of $115 million.

The X (Twitter) accounts of Yu Hu, founder of the AI-based Web3 search platform Kaito, and the official Kaito Network were hacked early yesterday morning. According to The Block's report on the 16th (local time), Yu Hu, the Kaito founder, stated through his X account, "Hackers waited for Yu Hu's sleeping hours in his residential area to compromise the account and spread unfounded rumors claiming abnormal activities were detected in connected wallets." He added, "We have now regained control of the SNS accounts, and Kaito wallets remain safe. We are investigating how this hacking incident occurred."

There is an ongoing debate within the community as claims emerge that if the Bitcoin (BTC) network remains as it is, a shift to new alternatives will eventually begin. According to a Cointelegraph report on the 16th (local time), Jason Calacanis, a well-known angel investor in famous IT companies like Uber, stated, "Bitcoin has been a great game so far, but large corporations are monopolizing the market. Eventually, the time is coming to create 'a better Bitcoin' and restart the game." The argument is that as time passes, technology gets replaced, and Bitcoin will not be able to resist this trend. This has prompted backlash from Bitcoin (BTC) industry professionals. Brady Swenson, co-founder of Swan Bitcoin, said, "A winning protocol cannot be replaced. More things are just built on top of that protocol. Bitcoin as a protocol for value transfer can never be replaced, and competition is ongoing between Layer 2 protocols." David Marcus, CEO of Lightspark, also stated, "Bitcoin's lacking features can be complemented through Layer 2."

Interview with Arthur Hayes, Chief Investment Officer (CIO) of Maelstrom The Real Intention of 'America First' is 'Low-Interest Funding' US Inducing Global Inflation Deepening... Bullish for Bitcoin Statement on Strategic Crypto Asset Reserves Also 'Political' Practically Impossible to Stockpile Altcoins "President Donald Trump is deliberately disrupting global supply chains through tariff policies and taking measures to boost domestic production capacity. If this leads to a global economic recession, monetary policy will ease, causing prices of Bitcoin and other cryptocurrencies to rise." Arthur Hayes (pictured), BitMEX co-founder and Chief Investment Officer (CIO) of Maelstrom, stated this in an interview with BloomingBit on the 11th, explaining that the tariff policies currently being pursued by President Trump will ultimately have a positive impact on the cryptocurrency market. We spoke in detail with 'Crypto OG (Original Gangster, blockchain pioneer)' Arthur Hayes, known as the founder of cryptocurrency derivatives trading, about the outlook for the cryptocurrency market in 2025 as it intersects with macroeconomic factors including Trump administration policies. The Real Intention of 'America First' is 'Low-Interest Funding' CIO Hayes viewed President Trump's current 'America First' stance as ultimately a move to secure low-interest funding for US debt. He said, "Trump is ultimately a politician, and there are clear intentions behind his policies," adding, "When the US promotes economic nationalist policies like America First, governments around the world will have to raise debt to secure supply chains, improve weapons production capabilities, and achieve self-sufficiency in essential industries. This will cause inflation and deepen economic recession, eventually creating an environment for interest rate cuts." He continued, "President Trump is either causing an economic recession in this way or convincing the market that a recession is approaching, making Federal Reserve Chair Jerome Powell ease financial conditions, with the long-term plan to secure policy funds through the Fed's 'Quantitative Easing (QE).'" The US national debt stands at approximately $36 trillion (about 5,236.2 trillion won) as of January this year, with about $9 trillion (about 1,309 trillion won) in treasury bonds to be repaid this year alone. This interpretation suggests that President Trump is strategically inducing an economic recession to lower interest rates, as US interest rates need to decrease to reduce the interest burden on national debt. US Inducing Global Inflation Deepening... Bullish for Bitcoin CIO Hayes predicted that Trump's policy to induce interest rate cuts would ultimately be positive for the cryptocurrency market, including Bitcoin. He emphasized, "If market confusion intensifies due to Trump's intentions and maintains a state of continuous excitement, investors will have their buying and selling psychology shaken, causing their assets to continue decreasing," adding, "At a time like this, one should adhere to the 'KISS (Keep-It-Simple-Stupid)' principle. As the recession deepens as Trump has outlined, and interest rates are cut, government debt will increase, expanding the money supply, which will inevitably benefit cryptocurrencies." If the Federal Reserve implements policies such as interest rate cuts, quantitative easing, treasury bond purchases, and supplementary leverage ratio exemptions for banks to prevent a financial crisis due to economic recession, the scale of capital that can be injected into the cryptocurrency market could naturally increase. CIO Hayes stated, "The Bitcoin and cryptocurrency market is the only existing global free market. It reacts to liquidity crises before the US stock market and shows a downward trend," emphasizing, "Bitcoin could fall to around $70,000, the previous cycle's peak in the worst case, but I believe the market is still in an upward cycle. Politicians should do their job, and investors should focus on their job of buying Bitcoin." Cryptocurrency Strategic Reserve Statement Also 'Political'... "Altcoins Practically Impossible" Meanwhile, CIO Hayes interpreted President Trump's recent policy to adopt cryptocurrencies as strategic reserve assets as a statement with highly political intentions. He said, "From the current Trump administration's perspective, it's not convincing to increase US government debt to purchase cryptocurrencies," adding, "Therefore, the content in last week's cryptocurrency strategic reserve plan stating that no new funds would be injected is quite natural." He added, "Many investors thought the US government would raise debt to purchase cryptocurrencies, so the market's reaction after the announcement was inevitably lukewarm." He believed it would be difficult for the US to purchase cryptocurrencies through additional budget allocations in the future. CIO Hayes explained, "Considering the Trump administration's situation, it is a very difficult choice politically to cut public service budgets while purchasing cryptocurrencies like Bitcoin." He was even more pessimistic about the possibility of strategic reserves for altcoins. He stated, "The only cryptocurrency officially held by the US government is Bitcoin," adding, "The discussion itself about including altcoins such as Cardano (ADA), XRP, and Solana (SOL) that Trump previously mentioned in reserve assets is meaningless." He continued, "Since it is practically impossible for the US government to raise new debt to purchase altcoins, there is no reason for expectations of US government purchases to arise in the altcoin market."

U.S. President Donald Trump has once again emphasized the importance of strategic Bitcoin (BTC) reserves. President Donald Trump stated at a cryptocurrency summit held at the White House on the 8th, "I promised last year to make America a Bitcoin superpower and the capital of cryptocurrencies, and I also signed the strategic reserve bill. The Bitcoin strategic reserve will become the digital Fort Knox (the U.S. national gold storage facility)." He continued, "Never sell Bitcoin," adding that "the Treasury and Commerce Departments will explore pathways to hold additional Bitcoin." He also mentioned the innovative nature of cryptocurrencies. He said, "Cryptocurrencies are pioneers that can help economic growth and innovation, and we plan to pass a stablecoin bill before Congress goes on recess in August."

Interview with Ian De Bode, Chief Strategy Officer of Ondo Finance US Financial Products Accessible Like Stablecoins Trump's Pick 'Ondo'... Will Increase On-Chain Finance Utilization Building 'Wall Street 2.0' Open Economy Infrastructure "With the Trump administration's pro-crypto asset policies, traditional financial institutions are expected to increase their blockchain utilization. Ondo Finance will build 'Wall Street 2.0' by strengthening the connection between traditional finance and on-chain finance based on these changes." Ian De Bode (pictured), Chief Strategy Officer (CSO) of Ondo Finance (ONDO), which recently heated up the crypto asset market by announcing a partnership with the Trump family's World Liberty Financial (WLFI), stated in an interview with BloomingBit on the 1st (local time) that "the fusion of traditional financial markets and on-chain finance will progress rapidly in the future." We heard in detail about the future of on-chain finance and the expansion possibilities of Real World Asset (RWA) tokenization technology as envisioned by CSO Ian De Bode and Ondo Finance. US Financial Products Accessible Like Stablecoins CSO Ian revealed that Ondo Finance is pursuing two core strategies to build an on-chain financial market with both transparency and efficiency: 'Ondo Global Market,' a public securities on-chain platform, and 'Ondo Chain,' a Layer 1 (L1) for institutional-grade financial product management. He said, "Ondo Global Market (Ondo GM) supports on-chain trading of not only stocks like Apple and Tesla, but also ETFs and mutual funds from major asset managers like Fidelity and BlackRock," and confidently added, "Just as stablecoins increased accessibility to the US dollar, Ondo GM will create innovations in liquidity and accessibility in the US securities market." Regarding Ondo Chain, he explained, "It's a Layer 1 blockchain designed to operate institutional-grade financial markets on-chain, combining the security of permissioned blockchains with regulatory compliance features to build expansion infrastructure for institutional financial markets including DeFi, Bridging, and Real World Asset tokenization (RWA)." Through this two-track strategy of Ondo Global Market and Ondo Chain, Ondo Finance aims to realize the on-chain transformation of multi-trillion dollar assets and lead the global asset tokenization market. Trump Family Chooses 'Ondo'... Will Increase On-Chain Finance Utilization He also explained the collaboration with World Liberty Financial (WLFI), operated by the Trump family, which recently caused tremendous ripples in the crypto asset industry. CSO Ian said, "Ondo Finance plans to accelerate the adoption of real-world asset tokenization and the on-chain transformation of traditional finance through collaboration with World Liberty Financial," adding, "WLFI is considering integrating Ondo's tokenized assets such as US Dollar Yield Token (USDY) and Short-Term US Treasury (OUSG) as Treasury Reserve Assets, and plans to support lending, borrowing, and margin trading using tokenized assets on the WLFI platform in the future. This will establish the foundation for operating institutional-grade financial markets on-chain." In fact, World Liberty Financial has been steadily purchasing Ondo Finance (ONDO) tokens since its launch late last year. The most recent purchase was worth $4.7 million on February 7, and on-chain indicators for long-term token holders and whale purchases have been rising following World Liberty's acquisitions. Additionally, Ondo Finance is expanding its on-chain financial market infrastructure through partnerships with PayPal USD (PYUSD), XRP Ledger, and others. He also had a positive outlook on the Trump administration's pro-crypto asset policies. He stated, "Since the Trump administration took office, foundations for regulatory relief have been laid, such as the withdrawal of the SEC's crypto asset-related accounting guidelines (SAB 121)," adding, "These changes will allow institutions to more actively pursue entry into on-chain finance based on the new regulatory environment." Building 'Wall Street 2.0' Open Economy Infrastructure CSO Ian emphasized that Ondo Finance ultimately plans to create 'Wall Street 2.0,' an open economic infrastructure that improves the inefficiencies of the current financial market through on-chain infrastructure. He said, "Traditional financial markets suffer from inefficiencies due to high transaction costs, low transparency, slow settlement speeds, limited operating hours, and fragmented structures," adding, "Ondo will realize 'Wall Street 2.0,' an open economic infrastructure that supports major securities traded in the US to be traded in a 24-hour global market through RWA on-chain transformation, while maintaining blockchain's openness and transparency through enhanced security and regulatory compliance." He added, "The global financial asset size amounts to $867 trillion. A significant portion of this has the potential to be tokenized," and "If these assets are brought on-chain while meeting appropriate regulatory compliance and security standards, the financial market could undergo a revolutionary change." Youngmin Lee, BloomingBit reporter 20min@bloomingbit.io

Global investment bank Barclays has been revealed to hold Bitcoin spot ETF products worth approximately $131 million. On the 14th (local time), crypto media The Block, citing quarterly 13F reports filed with the Securities and Exchange Commission (SEC), reported that global investment bank Barclays holds 2,473,064 shares of BlackRock's Bitcoin spot ETF (IBIT). This position was acquired in Q4 2024, estimated to have been purchased after President Donald Trump's inauguration. IBIT currently represents approximately 0.04% of Barclays' total portfolio.

Stablecoin issuer Tether (USDT) has announced the acquisition of a stake in Italian Serie A football club Juventus. On the 14th (local time), Tether stated through its official channels that "This investment represents a significant milestone for Tether, and we expect it to provide a new dimension of synergy between sports and digital assets." Tether CEO Paolo Ardoino said, "The strategic investment in Juventus will serve as a foundation for Tether to lead the global market by combining new technology industries such as digital assets, AI, and biotech with sports."