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⌐◪-◪ → The Crypto Czar has spoken!

Yesterday, President Trump’s Crypto Czar, David Sacks, gave his first-ever press conference focused entirely on digital assets.

The message was crystal clear: the current administration is prioritizing regulatory frameworks and clarity for crypto so founders can finally understand the “rules of the road.”

While there were no major announcements beyond the fact that they are “working on things for crypto,” we shouldn’t underestimate the significance of what just happened:

• The Chair of Senate Banking

• The Chair of House Financial Services

• The Chair of Senate Agriculture

• The Chair of House Agriculture

All of them stood shoulder to shoulder with David Sacks and committed to passing bipartisan legislation for crypto.

Some may call this a nothing burger, but this is the first time we’ve seen bi-cameral support (both chambers) from Congress—and that’s a big deal.

Oh, and one more thing, Sacks confirmed that the internal working group’s first priority is evaluating the feasibility of a strategic Bitcoin Reserve, which (for the record) will be separate from the Sovereign Wealth Fund.

You are not sufficiently bullish, anon.

⌐◪-◪ → The SEC has flipped pro-crypto

SEC Commissioner Hester Peirce (aka Crypto Mom) just announced the launch of the SEC Crypto Task Force. Its mission? To finally “provide clarity on the application of federal securities laws to the crypto asset market”—a sentiment that echoes what we just heard from David Sacks and key congressional chairs.

Here are their 10 initial priorities:

• Clarifying security vs. commodity status

• Defining areas outside the SEC’s purview

• Token offerings, issuance, and safe harbor rules

• Registered offerings under Reg A or CF

• Updates to special-purpose broker-dealer rules

• Custody rules for investment advisors

• Regulations for crypto lending and staking

• Approvals for crypto exchange-traded products

• Standards for clearing agencies and transfer agents

• A cross-border sandbox for experimentation

To top it off, the SEC is scaling back its crypto enforcement unit. Fifty lawyers have already been reassigned, including Jorge Tenreiro—formerly their top crypto litigator—who now works in IT (lol).

The line between TradFi and DeFi is going to blur. I believe TradFi operators will eventually evolve into portals for accessing blockchain, helping users engage with the new global financial system in a seamless, compliant, and secure way.

⌐◪-◪ → States are piling on the Bitcoin bandwagon

As of today, 22 out of 50 states (44%) have introduced their own Bitcoin reserve bills, with Ohio already issuing a second one.

Meanwhile, Michigan and Wisconsin have opted for a quicker route, allocating portions of their retirement portfolios into crypto ETFs—an easier way to gain Bitcoin exposure than waiting for lengthy bill approvals.

It’s becoming increasingly clear: it’s not a matter of if states will invest in Bitcoin but when. When they do, they’ll likely lock up billions of dollars into Bitcoin for extended periods (5–20 years), creating massive buy-side pressure across the entire crypto market.

It looks like South Dakota is poised to be the first state to pass a Bitcoin reserve bill due to their shorter legislative process. I expect other states to follow quickly, setting the stage for an eventual federal Strategic Bitcoin Reserve.

That said, nothing is guaranteed. Despite the bullish momentum, Polymarket assigns just a 14% chance of Trump creating a strategic Bitcoin reserve within his first 100 days.

Legislation is hard work, as it should be—but the dominoes are starting to fall.

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