US Senator from Wyoming, Cynthia Lummis, has said that US President Donald Trump’s executive order directing the government to create a sovereign wealth fund, hints at the government’s likelihood of acquiring Bitcoin in future.
Trump signed the executive order in a February 3, 2025 press event in the Oval Office, directing Treasury Secretary Scott Bessent and Secretary of Commerce Howard Lutnick to “begin a process that will hopefully result in the creation of an American sovereign wealth fund”.
According to Bessent, the EO would be enacted “within the next 12 months” and “monetise the asset side of the US balance sheet.”
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Bitcoin advocate Wayne Vaughan, who has also called on the US government to create a strategic Bitcoin reserve, said Bessent and Lutnick “both like Bitcoin” and could set up the wealth fund to invest in crypto, reports Cointelegraph.
Crypto Crash Triggered By Tradfi Events, Says Wintermute CEO
Traditional finance (TradFi) events and not the crypto industry participants are responsible for the recent crypto market crash following US President Donald’s Trump signing of executive order to impose import tariffs on goods from China, Canada and Mexico, Wintermute CEO Evgeny Gaevoy has said.
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Around $2.24 billion was liquidated from the crypto markets within 24 hours of US President Donald Trump’s signing of the executive order to impose import tariffs on goods from China, Canada and Mexico.
Gaevoy said that during market downturns, crypto traders often blame market makers and institutional participants for deliberately crashing prices to create discount buying opportunities. However, the last two crypto market crashes were caused exclusively by events outside the crypto ecosystem, he said.
“Understanding that our little crypto market is now very directly linked to the real world outside […] is pretty essential to being a (more) successful trader. But sure, you can ignore this information and choose to believe in a Wintermute + Binance conspiracy,” Gaevoy wrote in a post on X (formerly Twitter.)
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Gaevoy said that the crypto market crashes of 2025 have been “directly linked to TradFi events” such as DeepSeek and Trump’s tariffs.
Crypto.Com, Predictions Platform Kalshi Under Probe For Super Bowl Wagers
Crypto exchange Crypto.com has said it will continue offering wagers on the Super Bowl event even as it works with the US Commodity Futures Trading Commission (CFTC) over allegations how their Super Bowl events contracts comply with derivatives regulations.
“We firmly believe in the legality of our events contracts and believe the CFTC is the appropriate regulator to bring federally regulated market integrity, manipulation controls and product availability in all 50 states,” Crypto.com said.
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The US commodities regulator is investigating Crypto.com and predictions market platform Kalshi on Super Bowl wagers, and have asked them how they comply with derivatives rules.
Crypto.com, which operates a US-based derivatives exchange, had alerted the CFTC on December 19, 2024 that it would start trading the contracts on December 23. According to Bloomberg, the CFTC didn’t have time to review them before the Christmas season.
A CFTC spokesperson reportedly told Bloomberg that it was also reviewing similar events contracts from prediction markets platform Kalshi.
