U.S. Will Not Be Purchasing Any Bitcoin, Treasury Secretary Bessent Says
Main Idea
The article discusses various topics including U.S. Treasury's stance on Bitcoin reserves, Ethereum ETF inflows outperforming Bitcoin, FBI warnings about fake law firms targeting crypto scam victims, Justin Sun's lawsuit against Bloomberg, and Google's new rules for crypto apps on Play Store.
Key Points
1. U.S. Treasury Secretary stated the government will not purchase additional Bitcoin but will use confiscated Bitcoin to supplement its reserves, estimating current holdings at $15 billion to $20 billion.
2. Ethereum ETFs saw $704 million in inflows compared to Bitcoin ETFs' $86.7 million, marking the third consecutive day of Ethereum's dominance.
3. The FBI warned about fake law firms targeting crypto scam victims, including those who have been previously defrauded.
4. TRON founder Justin Sun sued Bloomberg to prevent the publication of his confidential crypto holdings, citing risks of theft and bodily harm.
5. Google confirmed that non-custodial wallets are exempt from new Play Store rules requiring custodial wallet apps to hold specific licenses.
Description
The White House has repeatedly floated the idea that the federal government could—and should—purchase additional Bitcoin to supplement existing reserves.
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