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⌐◪-◪ → Vitalik is asserting his control

Vitalik Buterin, co-founder of Ethereum, just declared himself the sole decision-maker for leadership changes within the Ethereum Foundation until a governance structure or board is implemented.

This, of course, feels ironic given Vitalik’s staunch support for decentralization, but it also makes sense given the constant criticism of the Ethereum Foundation for its wokeness, lack of participation, and generally weak marketing.

ETH sentiment is at an all-time low, best illustrated by the ETH-BTC ratio sitting at a 4-year low. FUD is so bad that long-time ETH maxis are capitulating, removing the ".eth" ending from their names on 𝕏.

That said, it feels like people’s frustrations are finally being heard. With Vitalik’s focus on new leadership, considerations of staking EF’s ETH, and the recent transfer of 50k ETH into a DeFi ecosystem fund, there’s hope for change.

Personally, I’m still accumulating ETH because I think it’s been massively overlooked in favor of speculative crazes like Solana and memecoins this cycle.

But let’s not forget—any improvements in sentiment from better leadership or EF participation could easily disappear. That’s just the nature of Ethereum.

⌐◪-◪ → Oh no, Trump didn’t mention crypto!

Half of crypto Twitter is up in arms because Trump:

1. Didn’t mention crypto during his inauguration speech.

2. Didn’t sign any crypto-related executive orders on day one.

People are especially frustrated that Trump didn’t pardon Ross Ulbricht, a move he promised during his campaign. However, Elon Musk has already chimed in, assuring everyone that Ross will be freed. This reassurance caused Polymarket odds for a pardon to shoot up to 99%.

Personally, I’m not worried. Trump likely has bigger priorities to address first. I still believe he’ll deliver on his crypto promises in due time.

Zooming in on those promises, the hardest but most impactful one is a true Strategic Bitcoin Reserve, which Polymarket currently gives a 34% chance of happening—down from 54% yesterday. This is being spearheaded by Sen. Cynthia Lummis via The Bitcoin Act.

Meanwhile, there’s some good news. We now have a pro-crypto SEC and CFTC chair, which is incredibly bullish for regulation.

The big question is, what executive orders (if any) will Trump sign today? My guess is something on a Strategic Bitcoin Reserve and something to address accounting rules (SAB121), allowing banks to count Bitcoin as assets instead of liabilities. A tax-related order could also be in the mix.

Crypto Twitter is already speculating—Farokh ran a poll, and the majority believe Trump will sign 4+ crypto-related EOs today.

Join Specs.Chat to see what the hivemind has to say.

⌐◪-◪ → Trump is buying more crypto!

Trump’s DeFi project, World Liberty Financial, just bought $47M of Bitcoin and $47M of Ethereum to celebrate Trump’s inauguration.

They now hold nearly 59k ETH worth $195M. For context, here are their top 5 holdings:

1. ETH → $195M

2. USDC → $54.86M

3. WBTC → $47.73M

4. STETH → $15.66M

5. USDT → $9.06M

This move underscores ETH’s importance in the project’s crypto strategy. Do with this what you will, but remember: ETH-BTC is at a 4-year low, and our new president is buying primarily Ethereum and Bitcoin.

Not financial advice, but it feels like the ETH bottom is in.

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