Summary
- The Australian government confirmed they don’t have plans to introduce Crypto Strategic Reserve (CSR).
- White House Crypto Summit scheduled to be held on Friday of this week, invites many crypto executives.
- Reddit co-founder Alexis Ohanian plans to acquire Tik-Tok & put its data on Blockchain.
- The El Salvador president confirmed that his country will not stop buying Bitcoin.
- Belarus to expand its electricity energy production ability & hence increase its crypto mining operations.
- The Vietnamese prime minister ordered the Ministry of Finance to prepare a crypto regulatory draft within a month.
Australia Opposes Crypto Strategic Reserve
The government of Australia clarified its stance on the US Crypto Strategic Reserve (CSR) & confirmed that they’re not going to follow in the footsteps of the US crypto adoption strategy. A government official from Australia told Cointelegraph media that they’re currently focused on regulating crypto trading platforms.
Source: Cointelegraph.com
White House Crypto Summit
Fox Business reporter Eleanor Terrett reported that many crypto entrepreneurs & executives confirmed that they got invitations to attend the White House Crypto Summit on 7 March 2025. Reportedly many new decisions regarding Crypto Strategic Reserve (CSR) will be announced at the summit, which will ultimately clarify the future of crypto adoption in the US jurisdiction.
Tik-Tok on Blockchain
Reportedly, Reddit co-founder Alexis Ohanian has joined Frank McCourt to acquire the US version of the TikTok platform and relaunch on blockchain. Alexis said that Tik-Tok users should own their data and also Tik-Tok creators should control their content among followers & fans. If everything will happen as per plan, then the TikTok platform will integrate with Project Liberty’s blockchain protocol to enhance transparency & user ownership of the data.
Nayib Bukele Says El Salvador Will Not Stop
The El Salvador president Nayib Bukele confirmed that his country’s efforts to invest in Bitcoin will not stop. He openly rejected the negative speculations around Bitcoin adoption in the jurisdiction of El Salvador. Indeed, Bukele’s response was a reaction to a recent report published by the International Monetary Fund (IMF), which asked the country to stop investing in Bitcoin & stop supporting the country’s digital Bitcoin wallet, Chivo.
Belarus to Expand Its Crypto Mining Operations
Local media outlet BelTA reported that Belarusian President Alexander Lukashenko asked the country’s energy officials to push the country’s crypto mining industry to the next level by utilising the excess electricity to generate additional revenue for the country. It is worth it to note that currently, Belarus’s electricity generation capacity is not enough to fulfil the population’s day-by-day increasing demand, so they’re planning to upgrade the country’s 5.7k KM power grid system.
Bybit CEO on Hack Incident
Bybit CEO Ben Zhou shared a crystal clear report on the ByBit hack incident and said that the hacker drained a net $1.4 billion worth of Ethereum ($ETH) coins, nearly 500k ETH coins. Hackers successfully laundered 97% of the drained funds. 3% has been frozen, 77% of funds can be traced, and 20% can’t be traced. 83% of the stolen funds have been swapped to Bitcoin and scattered in 6,954 wallets.
Vietnam to Regulate Cryptocurrencies
The Prime Minister of Vietnam Pham Minh Chinh ordered the Ministry of Finance and the State Bank to draft a legal framework for digital assets in the next 30 days. It’s worth noting that Vietnam ranked third biggest country In 2021 and 2022, in the world in terms of the proportion of its population owning cryptocurrencies (equivalent to 21% of the population).
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