Trump signed an executive order on crypto reserves. The EU clarified that MiCA does not ban USDT. Bybit revealed details of the hack. MetaMask added a tax calculator

Trump signed an executive order creating a crypto reserve, but the summit disappointed investors 

 

US President Donald Trump signed an executive order to create a national crypto reserve, which will include Bitcoins and altcoins confiscated during criminal cases. This was announced on March 6, 2025. The purchase of crypto with public funds is not provided, the sale of Bitcoins is prohibited, and altcoins can be sold only in exceptional cases. 

 

The next day, March 7, Trump held the first-ever crypto summit at the White House. He announced the end of the strict regulation policy introduced under the previous administration and promised to make the US the “cryptocurrency capital of the world.” The president also announced the end of Operation Chokepoint 2.0, an initiative that limits cryptocurrency businesses’ access to the banking system, and expressed hope for the swift passage of a dollar-stablecoin law. 

 

Trump’s rhetoric disappointed investors who were expecting more specificity, especially regarding the Bitcoin Reserve’s strategy. As a result: 

 

1. Total market capitalization fell 5% overnight to $2.92 trillion ($2.74 trillion as of 10.03.2025). 
2. Bitcoin fell in price by 3.5%, dropping to $85,900. As of 10.03.2025, the rate fell to $82,291.  
3. Ethereum lost 3%, approaching $2,100 ($2,070 as of 10.03.2025).  
4. XRP, Solana, and Cardano fell by 8.4%, 4.2%, and 9.2%, respectively. 

 

Despite the negative market reaction, experts believe that the creation of a state reserve will increase the legitimacy of Bitcoin and attract institutional investment. 

 

China is also considering the strategic accumulation of the first cryptocurrency. The authorities of this country control 190,000 BTC, but their current state is unknown. The UK owns 61,000 BTC, and although there have been no official statements about the reserve yet, the idea is being actively discussed in political and economic circles. 

Bybit has recovered assets after the largest hack: what is known? 

 

Bybit has fully recovered its losses, returning to its accounts 444,870 ETH (~$1.46 billion) that were stolen on February 21, 2025, in the largest-ever cyberattack on CEX crypto exchanges. 

 

It is known that hackers compromised not the platform itself but its wallet infrastructure by injecting malicious code into AWS S3 cloud storage. The attack mechanism involved automatic spoofing of recipients’ addresses when confirming transactions. After stealing the funds, the attackers erased the digital footprints. 

 

According to the FBI, Lazarus Group from North Korea is responsible for the incident. The attackers converted the stolen assets into Bitcoins and altcoins to make it difficult to track transactions through blockchain analysis. 

 

To cover the losses, the exchange raised debt and private equity and made a series of strategic market purchases. As early as February 25, Bybit repaid its debt to the Bitget platform by returning 40,000 ETH. 

 

The crypto platform also managed to block the QinShihuang memecoin, which has been linked to hackers. The token emerged after the attack, and its trading volume reached $26 million in three hours.