Trump’s BTC Reserve, Metaplanet Buy, Salinas & SEC Update

March 10, 2025

Crypto World

Maciej Zerelik

Crypto never stops moving. At StealthEX and CryptoDaily, we help you keep up. Each week, we highlight the biggest stories in crypto. Curious what’s happening right now? Our short updates give you exactly what you need—clear info, no jargon. Stay informed without effort. Ready to dive in? Let’s get started!

Trump Orders Creation of Bitcoin Reserve Using Seized Crypto

President Donald Trump has taken a bold step to strengthen America’s position in digital finance. He signed an executive order establishing a Strategic Bitcoin Reserve, using confiscated cryptocurrency instead of taxpayer funds.

This move aligns with Trump’s promise to boost the nation’s leadership in digital assets. The order also launches a Digital Asset Stockpile, ensuring responsible management of various cryptocurrencies, including Ethereum, XRP, Solana, and Cardano.

The federal government currently holds an estimated 200,000 BTC, though an official audit has not been conducted. The new strategy ensures these holdings remain intact rather than being sold at a loss. Previous government sell-offs resulted in billions in missed gains.

David Hacks, the White House crypto advisor, compared the reserve to Fort Knox but for digital gold. He stressed that the initiative protects taxpayer interests while allowing the U.S. to benefit from the long-term potential of Bitcoin.

The Treasury and Commerce Secretaries will explore ways to expand holdings without adding costs. The administration sees this as a crucial step in securing America’s leadership in the evolving digital economy.

Trump’s decision comes just before his scheduled meeting with cryptocurrency executives, signaling his commitment to innovation. The executive order could mark a turning point in how governments manage and embrace digital assets.

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Metaplanet Expands Bitcoin Reserves with Another $43.9M Purchase

Metaplanet has added to its Bitcoin stash again, now holding 2,888 BTC after snapping up another 497 BTC for $43.9 million. This marks the second major purchase in just two days, reinforcing the company’s aggressive accumulation strategy.

On March 3, the Tokyo-based investment firm seized the opportunity when Bitcoin dipped, buying 156 BTC for $13.4 million at an average price of $85,590 per coin. Two days later, it followed up with a much larger purchase, securing 497 BTC at an average of $88,448 per Bitcoin. Altogether, Metaplanet has now invested $196.3 million in Bitcoin, with an average cost basis of $82,100 per BTC.

The firm has been steadily increasing its Bitcoin holdings since rolling out its acquisition strategy in April 2024. In December, it made Bitcoin a core part of its treasury operations, signaling a long-term commitment to digital assets. Metaplanet has set ambitious targets, aiming to reach 10,000 BTC by the end of 2025 and 21,000 BTC by the close of 2026.

The company’s strategy appears to be paying off. Its stock surged 17% in Japan on Wednesday, outpacing the Nikkei 225, which recorded a modest 0.55% gain.

Metaplanet’s growing presence in the crypto space has also drawn attention from U.S. markets. CEO Simon Gerovich revealed that both the New York Stock Exchange and Nasdaq have invited the firm to explore potential listings. He hinted at expanding global accessibility for investors but has yet to confirm any concrete plans.

Mexican Billionaire Ricardo Salinas Goes All-In on Bitcoin

Ricardo Salinas, one of Mexico’s wealthiest individuals, has allocated 70% of his personal investment portfolio to Bitcoin. The billionaire, who leads Grupo Salinas, confirmed his stance in a recent interview, stating that he is “pretty much all in” on the cryptocurrency. The rest of his portfolio is split between gold and gold mining stocks.

Salinas has steadily increased his Bitcoin exposure over the years. In 2020, he revealed that 10% of his liquid assets were in Bitcoin. Since then, he has expanded his holdings significantly, signaling strong confidence in its long-term value.

He describes Bitcoin as the “hardest asset in the world” due to its fixed supply limit. Unlike gold, which increases in supply by about 3% annually, Bitcoin’s total issuance is capped at 21 million coins. He believes this scarcity will drive BTC’s price higher over time. His advice to investors? Buy as much as possible and hold.

His Bitcoin journey began over a decade ago when former Grayscale CEO Barry Silbert introduced him to the asset. He started with a $200 investment and has remained bullish ever since.

Salinas’ Bitcoin focus aligns with his broader business strategy. He has tried to integrate the cryptocurrency into Mexico’s banking system through Banco Azteca, though regulatory barriers have slowed progress. Meanwhile, he plans to delist Grupo Elektra, aiming for more flexibility in managing his businesses.

Despite ongoing legal and tax disputes with the Mexican government, Salinas remains an outspoken Bitcoin advocate. He continues to promote it as a secure, long-term store of value, reinforcing his belief that its future remains bright.

Ripple CTO Defends XRP Sales and Supply Strategy

David Schwartz, Ripple’s Chief Technology Officer, has addressed concerns about the company’s approach to selling XRP. He clarified that Ripple’s sales are designed to support ecosystem growth, not just generate profit.

Schwartz explained that these transactions fund initiatives aimed at increasing XRP adoption, particularly in cross-border payments. He emphasized that Ripple carefully manages sales to avoid market disruption while forming strategic partnerships to expand XRP’s use cases.

His comments came after Pierre Rochard, Vice President of Research at Riot Platforms, criticized Ripple’s role in XRP distribution. Rochard argued that XRP holders should not expect Ripple to act in their favor, as they are not directly investing in the company. Schwartz agreed, stating that Ripple operates in its own best interest, just as any other business would.

Another major concern was the claim that Ripple could create more XRP at will. Schwartz dismissed this, explaining that the XRP Ledger has built-in safeguards preventing unauthorized token creation. He referenced past incidents in other cryptocurrencies, such as Bitcoin’s infamous overflow bug, to highlight the importance of XRP’s security measures.

XRP has a fixed supply of 100 billion tokens, with no way to inflate it. In fact, the total supply gradually decreases over time, as small amounts are permanently destroyed through transaction fees. Schwartz reassured the community that Ripple remains committed to responsible management of its holdings and long-term ecosystem growth.

U.S. Treasury Secretary Confirms Bitcoin Reserve Plans Under Review

The U.S. government is actively evaluating plans to acquire Bitcoin and other cryptocurrencies for a strategic reserve, according to Treasury Secretary Scott Bessent. His comments came after President Donald Trump hosted a historic White House summit with crypto industry leaders, signaling a shift from previous regulatory policies.

Speaking on CNBC’s Squawk Box, Bessent confirmed that discussions are underway on how to move forward with building a Bitcoin reserve. He emphasized the importance of U.S. leadership in digital assets and the need to establish best practices for regulation.

Before making new acquisitions, the government’s first step will be halting Bitcoin sales from seized asset holdings. Bessent revealed that authorities recently confiscated $500 million worth of Bitcoin, with half already sold. The remaining portion will be redirected to the reserve after fulfilling obligations to victims in related cases.

Although Bitcoin is the primary focus, Bessent clarified that the initiative is designed to include a broader range of digital assets. However, the absence of a direct purchasing plan has left some in the industry disappointed. Many expected the administration to actively buy Bitcoin as a long-term investment, similar to proposals aimed at reducing national debt through strategic holdings.

Bessent reiterated that taxpayer funds would not be used for acquisitions but did not provide details on how additional Bitcoin purchases might occur. He assured that a structured approach is being developed, with further discussions set to take place in Washington.

For now, the administration’s priority remains stopping government-led Bitcoin sales before considering expansion plans for the reserve.

Jailed FTX Founder Says Biden Administration Pushed Firm into Bankruptcy

Sam Bankman-Fried, the former CEO of collapsed crypto exchange FTX, claimed in a new video interview that political pressure from President Biden’s team forced his company into bankruptcy.

Speaking from a federal prison where he’s serving a 25-year sentence, Bankman-Fried argued that FTX could have survived if not for interference from regulators. He sharply criticized the Biden administration’s handling of crypto policy, describing it as chaotic and counterproductive.

Bankman-Fried also slammed Gary Gensler, chair of the Securities and Exchange Commission (SEC), calling his regulatory approach harmful to crypto innovation. He suggested Gensler’s tough stance directly contributed to the downfall of his exchange, which previously seemed financially solid.

During the interview, Bankman-Fried admitted having no available personal funds left. He maintained that, before its collapse, FTX was financially stable and profitable. Despite acknowledging past mistakes, he argued the company’s collapse was mainly due to external political pressures rather than poor management.

The former crypto billionaire hinted at political motivations behind the charges against him, noting his donations to Republican campaigns might have intensified scrutiny from regulators. Although serving a 25-year sentence, Bankman-Fried continues efforts to secure a pardon, as he positions himself closer to Republicans who advocate lighter crypto regulation.

SEC to Host Major Crypto Roundtable on Defining Digital Assets

The U.S. Securities and Exchange Commission (SEC) announced plans for a critical meeting focused on clarifying whether cryptocurrencies should be classified as securities. The upcoming event, scheduled for March 21 in Washington, DC, will gather legal specialists, regulators, and cryptocurrency industry representatives to discuss the future of crypto oversight.

Named “How We Got Here and How We Get Out – Defining Security Status,” the roundtable is organized by the SEC’s recently formed crypto-focused team. While portions of the discussions will be publicly accessible, private breakout sessions will allow participants to openly discuss regulatory challenges away from public scrutiny.

Crypto Task Force members include seasoned experts such as Michael Selig, a former crypto attorney from a major law firm. SEC Commissioner Hester Peirce highlighted the importance of public contributions in shaping crypto policies. She expressed hope that industry insights could lead to clearer and more practical regulations.

Since launching the task force, the SEC has actively consulted leading crypto entities, including Zero Hash, Paradigm Operations, and the Crypto Council for Innovation. Prominent industry groups continue to push for clearer guidance after facing uncertainty under previous regulatory actions.

SEC Drops Lawsuit Against Kraken, Easing Pressure on Crypto Firms

The Securities and Exchange Commission (SEC) has withdrawn its high-profile lawsuit against Kraken, effectively ending its previous tough stance on the cryptocurrency exchange. The case was dismissed permanently, with no fines imposed and no admission of wrongdoing from Kraken.

Kraken confirmed the SEC dropped its lawsuit without forcing the company to change any of its business practices. The move is significant because it could signal a softer approach from regulators who previously targeted crypto platforms aggressively.

The company described the decision as an encouraging sign for the crypto sector, which had faced months of uncertainty due to regulatory pressure. Kraken expressed hope that this might pave the way for clearer, more practical regulations in the future.

The SEC originally filed its lawsuit in November 2023, claiming Kraken operated without required registrations as a securities exchange and brokerage. It accused the exchange of illegally enabling the trading of cryptocurrencies classified as securities.

Throughout the legal dispute, Kraken consistently denied wrongdoing. The platform argued that the accusations were misguided and harmful to industry growth. Although a judge previously allowed portions of Kraken’s defense, the SEC had continued pressing charges until its recent decision to withdraw.

With the lawsuit dismissed permanently, Kraken will continue operating without penalties or enforced changes. The crypto community sees this as a turning point toward improved regulatory stability.

This article is not supposed to provide financial advice. Digital assets are risky. Be sure to do your own research and consult your financial advisor before investing.