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  • 1/29/25: Trump Doubles Down On Crypto 🇺🇸

1/29/25: Trump Doubles Down On Crypto 🇺🇸

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Top News

  1. Trump Media expands into fintech with Truth.Fi

  2. X (Twitter) partners with Visa to launch peer-to-peer payments

  3. Czech National Bank proposes $7B Bitcoin reserve

Specs’ Insights

1. Trump Media expands into fintech with Truth.Fi

⌐◪-◪ → Trump is doubling down on crypto!

Trump Media and Technology Group (TMTG) just made a bold move into financial services, announcing Truth.Fi, its new fintech brand.

The company plans to invest $250M in Bitcoin, cryptocurrencies, ETFs, and SMAs, in partnership with Charles Schwab. This marks a major diversification from its core social media business into finance.

This isn’t just a headline-grabber—$DJT (Trump Media’s stock) surged +15% after the announcement, signaling investor excitement about the company’s new direction. The timing is interesting too, as it comes just one day after X revealed its own financial services push.

While Truth.Fi signals Trump’s commitment to crypto, the big question is whether this "America First" investment approach can compete with other fintech giants like X Money. Regardless, TMTG’s crypto ambitions are another clear sign of crypto’s growing role in mainstream finance.

2. X (Twitter) partners with Visa to launch peer-to-peer payments

⌐◪-◪ → X is becoming the everything app!

Elon Musk’s X is diving deeper into fintech, partnering with Visa to launch X Money and X Wallet, which promise to enable direct peer-to-peer payments.

Visa CMO quipped: “We want to be everywhere money moves,” highlighting Visa’s ambitions to lead digital payments. X Money could potentially replace Apple Cash, Venmo, or even traditional bank accounts—but here’s the twist: will it include crypto?

Dogecoin holders are holding their breath, though DOGE integration wasn’t mentioned in the announcement. Visa’s crypto experience (like its Coinbase partnerships) gives some hope that X Money might eventually embrace digital assets.

This move cements Musk’s vision of X as the ultimate “everything app,” but for now, it looks like a TradFi-heavy solution. To truly stand out, X Money needs to deliver on accessibility, fees, and speed—and embrace crypto to fulfill its promise of innovation.

3. Czech National Bank proposes $7B Bitcoin reserve

⌐◪-◪ → Czech Republic considers Bitcoin reserves

The Czech National Bank might just become the first Western central bank to hold Bitcoin. Governor Aleš Michl proposed allocating $7.3 billion (5% of the country’s $146 billion reserves) into BTC, alongside increasing gold and equity holdings.

Michl justified the move by highlighting Bitcoin’s low correlation to bonds, making it a strategic hedge in a diverse portfolio. This proposal aligns with recent shifts, like Trump and Sen. Lummis’s push for a Strategic Bitcoin Reserve in the U.S.

If approved, this move could kick off a wave of Western countries adopting Bitcoin. The game theory of nation-state Bitcoin adoption is officially playing out, and no one wants to be the last to join.

The proposal is still under review, but it’s clear: Bitcoin is no longer just a hedge for individuals—it’s becoming a serious consideration for governments.

Everything Else

📈 Market Snapshot

  • Bitcoin → $101,982.82 ▼ 1.36% (24h)

  • Ethereum → $3,102.10 ▼ 3.10% (24h)

  • XRP → $3.06 ▼ 4.13% (24h)

  • Solana → $228.38 ▼ 4.44% (24h)

  • BNB → $665.11 ▼ 1.40% (24h)

  • Dogecoin open interest drops $1.7B

  • PENGU crashes 26%, $1B market cap in jeopardy

⛓️ Crypto & DeFi

  • Coinbase adds Trump campaign manager, ex-Senator to advisory

  • Ethereum active addresses surge 37%

  • AI DAO rebrands to ElizaOS over confusion concerns

  • Meteora hits $33B trading volume in January

  • Solana dev hacked for $1.2M but refuses to quit

  • Elon Musk reveals X payment plans with VISA partnership

  • Aerodrome suspends contributors over VVV token trades

  • World Liberty buys $2M in MOVE tokens, MOVE jumps 20%

  • Movement Labs unveils developer mainnet

  • Symbiotic launches restaking protocol on Ethereum

  • BTQ proposes energy-efficient Proof of Work alternative

  • SSV DAO unveils “SSV 2.0” framework

🏦 Wall Street & VC

  • Cboe files again for Solana ETF

  • Bitwise files for Dogecoin ETF

  • Robinhood CEO pushes SEC for tokenization rules

  • Pantera and Jump lead $20M Humanity Protocol round

  • Nuvve, public Green energy firm, starts Bitcoin reserve

  • Pod raises $10M for new Layer 1 network

  • Ross Ulbricht is said to be in market raising for a new crypto startup

🏛️ Legal & Regulatory

  • Trump vows to propel Bitcoin higher

  • Paradigm funds Tornado Cash co-founder defense

  • Movement Labs refutes insider trading allegations

  • Judge who ruled for Ripple sentences crypto Ponzi operator

  • Sen. Lummis accuses SEC of undermining Congress

  • Binance faces expanded money laundering probe

  • Preston Pysh explains why SAB 121 beats a Bitcoin reserve

  • Netflix hit with cease and desist over Bitfinex doc

  • Utah passes bill for digital asset investments

  • South Dakota seeks to establish Bitcoin reserve

🌎 Rest Of The World

  • French prosecutors expand Binance money laundering probe

  • Metaplanet plans to buy 21,000 Bitcoin by 2026

  • Coinbase receives Argentina expansion approval

  • Hong Kong grants first crypto licenses of 2025

🖼️ NFTs & Metaverse

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