ChainCatcher news, according to Bloomberg, a senior White House official stated today before an industry summit that the first step after establishing a strategic Bitcoin reserve and other digital asset reserves for the United States will be to audit how much cryptocurrency the government holds.The official mentioned that after the Silk Road exchange was shut down, the U.S. once held about 400,000 Bitcoin tokens, with approximately half of that amount sold off. According to Arkham's data, the U.S. currently holds about $17.5 billion in Bitcoin and approximately $40 million in several other tokens in its known digital wallets.

ChainCatcher news, Matrixport released a weekly report stating that with the upcoming White House cryptocurrency summit on Friday, any positive headlines could drive short-term momentum, but the structural weaknesses in the market and macroeconomic headwinds remain key risks.If Trump conveys a strong message of support for cryptocurrencies, it could inject new vitality into the market, but its sustainability will depend on the broader economic and policy environment. This summit marks the first time in history that the White House is holding a summit specifically focused on cryptocurrencies. The market is currently closely watching the outcomes of the summit and anticipates further price volatility in the future.The U.S. government may utilize its gold reserves to fund the purchase of Bitcoin, especially if the strategic Bitcoin reserve plan is advanced. The Bitcoin bill proposed by Senator Cynthia Lummis suggests using the market value of gold—currently around $688 billion, far exceeding its book value of $11 billion—to acquire 1 million Bitcoins over five years. This could mean that gold would need to be sold at market prices, and the proceeds would be reallocated.

ChainCatcher news, White House AI and crypto chief David Sacks forwarded a tweet from Castle Island Ventures partner Nic Carter, who stated that Trump's signing of the U.S. Strategic Bitcoin Reserve executive order indicates:Trump is fulfilling his campaign promise;Bitcoin reserves are clearly different from altcoin reserves;Bitcoin has received official recognition from the U.S. government, while other cryptocurrencies have not yet received the same treatment;There is no need to spend taxpayer money to purchase Bitcoin, so there may not be strong opposition;Future purchases of cryptocurrencies like Bitcoin may be the responsibility of Congress, which is also reasonable.

According to ChainCatcher news, as disclosed by Alex Thorn, Head of Research at Galaxy Digital, the U.S. government currently has a maximum of 88,000 bitcoins available for reallocation as reserves, accounting for only 43% of its current holdings. This is because out of the approximately 198,000 bitcoins held by the U.S. government, 112,000 bitcoins will need to be returned to the exchange Bitfinex.Alex Thorn stated that the market will understand the difference between "seizure" and "forfeiture." He added that among the cryptocurrencies held by the government, 97.7% are bitcoins, and if WBTC (Wrapped Bitcoin) is included, this percentage will rise to 98%.

According to ChainCatcher news, monitored by Lookonchain, the U.S. government's public wallet currently holds 198,109 BTC (worth $16.92 billion). Earlier today, it was reported that Trump signed an executive order to establish a strategic Bitcoin reserve and will not sell any Bitcoin stored in the reserve.The U.S. government previously transferred about 222,684 BTC (worth $3.28 billion at the time, now worth $19.42 billion) to Coinbase, Coinbase Prime, and other unknown wallets, at an average price of $14,736 per coin. At current prices, the U.S. government has lost approximately $16.14 billion due to the early sale of BTC.

ChainCatcher News, former President Donald Trump stated on March 6 local time that he has instructed cabinet ministers and leadership to work with the Department of Government Efficiency on cost-cutting and staffing, in order to "very accurately determine who will stay or leave." Tesla CEO Elon Musk currently leads the Department of Government Efficiency.Trump also added, "It is very important to reduce the number of personnel to the appropriate level, but it is also important to retain the best and most efficient people."

ChainCatcher news, White House AI and cryptocurrency chief David Sacks posted on social media that the executive order signed by President Trump also establishes a U.S. digital asset reserve, which includes digital assets other than Bitcoin seized in criminal or civil proceedings.Apart from assets obtained through the forfeiture process, the government will not acquire other assets for the reserve. The purpose of the reserve is to manage government digital assets under the leadership of the Treasury Department.

ChainCatcher news, White House AI and crypto chief David Sacks posted on the X platform, stating that over the past decade, the U.S. federal government has sold approximately 195,000 bitcoins, generating $366 million in revenue.If the U.S. government still held these bitcoins, their value today would exceed $17 billion, which is the cost of American taxpayers not having a long-term strategy.

ChainCatcher news, Solana founder Toly shared his views on decentralized reserve mechanisms on social media. He stated that the ideal choice is to have no reserves, as allowing the government to manage reserves would lead to the failure of decentralization.Toly further pointed out that if reserves must be established, each state can manage them independently to hedge against potential decision-making errors by the Federal Reserve. At the same time, if a reserve mechanism is necessary, it should be based on objective, measurable, and reasonable standards, rather than subjectively set rules.He finally emphasized that regardless of how the reserve mechanism is set up, the Solana ecosystem can meet and exceed its goals, demonstrating strong competitiveness.

ChainCatcher news, according to Jinshi reports, U.S. President Trump praised the "Department of Government Efficiency" (DOGE) and thanked Musk.

ChainCatcher message, Arthur Hayes posted on the X platform: "In times of crisis, just print money. Germany almost overnight amended its constitution to greenlight financing for national defense. Whatever the new world order ultimately looks like, this will become a guideline for how governments choose to finance."

ChainCatcher news, White House AI and cryptocurrency chief David Sacks posted on the X platform: "To accuse those who are already very successful in business of entering government to make more money is a lazy and foolish narrative. As far as I know, serving in government creates substantial interference and divestment from personal business interests. The real question is how those lifelong 'public servants' became so wealthy.For example, how did Nancy Pelosi become one of the greatest stock pickers of our time? How did the former head of the U.S. Agency for International Development (USAID) become a billionaire? Why are the zip code areas around Washington, D.C. among the wealthiest in the nation?From what I see, all billionaires who serve in government do so for one reason: they absolutely love this country and want to make it great again. To do this, we must drain the swamp and expose the blatant large-scale government corruption."Elon Musk retweeted the post and expressed agreement: "Exactly."

ChainCatcher news, according to Jin10 data, Japan's 30-year government bond yield has risen to 2.37%, the highest level since October 2008.

ChainCatcher news, according to Cointelegraph, the current Australian government has stated that there are no plans to establish a cryptocurrency strategic reserve.A spokesperson for Australian Assistant Treasurer and Minister for Financial Services Stephen Jones told Cointelegraph that the Albanese government is focused on regulating digital asset platforms and is developing a regulatory framework suitable for digital assets.Tom Matthews, Head of Corporate Affairs at Australian exchange Swyftx, believes that while the idea of a crypto reserve is popular, it may be "fraught with complexities" and could lead to concentration risks for certain tokens. Jonathan Miller, Managing Director of Kraken Australia, stated that cryptocurrencies have established themselves as investment-grade assets.

ChainCatcher news, Farcaster co-founder Dan Romero tweeted a prediction about crypto asset reserves: the government will only retain seized assets and will not make new purchases; Bitcoin will account for 80% of the reserves. XRP and ADA may be included in the reserves through physical tax payments or similar donations.

ChainCatcher news, according to The Block, analysts from research and brokerage firm Bernstein pointed out that President Trump's statements regarding cryptocurrency reserves have evolved from "Bitcoin as a national reserve" during the campaign to "national digital asset reserves," and recently to "cryptocurrency strategic reserves." Analyst Gautam Chhugani stated in a client report released on Monday: "It is currently unclear whether a strategic reserve can be created solely through a presidential executive order. If it involves the Federal Reserve's balance sheet, specific legislation would be required from Congress."While there are views that the U.S. Treasury's Exchange Stabilization Fund could be used to purchase cryptocurrencies without the need for immediate congressional approval, the fund's primary responsibilities are managing foreign exchange and maintaining financial stability, and using it for crypto reserves may face legal and political challenges. If crypto reserves are approved by Congress, Bernstein analysts proposed several potential sources of funding, including re-evaluating and reallocating gold reserves, issuing government bonds, reallocating Federal Reserve balance sheet funds, or collaborating with U.S. institutional asset managers.Regarding asset allocation methods, analysts suggested a market-cap weighted distribution: 75% allocated to Bitcoin, 11% to Ethereum, 4% to Solana, and the remaining 10% to other assets. Bernstein analysts believe: "A realistic path may be for the U.S. government to persuade Congress to accept Bitcoin as a new form of digital gold/global store of value and to conduct a gold re-evaluation/gold reserve reallocation."

ChainCatcher message, American AI and cryptocurrency mogul David Sacks tweeted, "Before taking office in government, I sold all my cryptocurrencies (including BTC, ETH, and SOL)."

ChainCatcher news, according to Cointelegraph, Custodia Bank CEO Caitlin Long stated that the U.S. government has still not addressed the issue of cryptocurrency de-banking since Trump's return to the White House.Caitlin Long mentioned at ETHDenver that while "people think regulation has loosened, no federal banking agency has actually overturned any anti-cryptocurrency guidelines." "Even for very small amounts, banks' engagement with digital assets is still considered unsafe and unsound."

ChainCatcher news, according to Southeast Morning Post, 21 staff members of the "Department of Government Efficiency" (DOGE) led by Elon Musk collectively resigned on February 25 local time. In their joint resignation letter, they stated that they refuse to use their technical expertise to "dismantle critical public services," and accused many of those recruited by Musk of being "political dreamers" lacking the skills or experience necessary to complete the tasks.Meanwhile, New York Governor Kathy Hochul stated on February 25 that she welcomes recently laid-off federal workers to apply for state government positions through an online portal. Currently, DOGE is coordinating the federal government layoffs, with the established goal of reducing the federal bureaucracy, but there are no official statistics on the total number of layoffs yet.