Bo Hines, the executive director of US president Donald Trump’s White House Crypto Council, announced he is stepping down on Saturday.

Hines, who was appointed by the president to lead the advisory group in December 2024, said he is stepping down to rejoin the private sector and thanked the crypto community for its “unwavering” support. He wrote on Saturday:

“Serving in President Trump’s administration and working alongside our brilliant AI & Crypto Czar, David Sacks, as Executive Director of the White House Crypto Council, has been the honor of a lifetime. Together, we have positioned America as the crypto capital of the world.”

Although a successor has not yet been named, independent crypto reporter Eleanor Terrett said that Hines’ deputy director, Patrick Witt, will likely be appointed to the position. 

The White House Crypto Council published a comprehensive report proposing a regulatory action plan for digital assets in the US in July. Although the advisory group has been instrumental in guiding policy efforts, critics say the council underdelivered on the strategic BTC reserve.

Related: Donald Trump to get on with Bitcoin reserve ‘in short order’ — Bo Hines

Hines advocated for the accumulation of BTC through budget-neutral strategies

President Trump signed an executive order establishing a Bitcoin strategic reserve and a national crypto stockpile in January. However, the order limited how the government could acquire additional BTC.

The executive order prohibits the federal government from selling any of the US government’s accumulated BTC and directs the Treasury Department and the Commerce Department to find “budget-neutral” strategies to accumulate more of the digital currency.

Budget-neutral strategies mean that the only way the US government can acquire new BTC for the reserve is through asset seizures or ways that do not create additional burdens on the US public budget.

In March, Hines suggested that the US government should revalue its gold holdings, which are priced at $42.22 per troy ounce, while gold trades at about $3,400 per ounce on the spot market.

A portion of the revalued gold could then be converted to BTC, increasing the size of the national Bitcoin reserve, without creating a budget expense.

Magazine: Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex

]]> https://earlybirdsinvest.com/bo-hines-director-of-the-white-house-crypto-council-steps-down/feed/ 0 52392 https://earlybirdsinvest.com/white-house-looking-to-ban-banks-from-discriminating-against-certain-clients-including-crypto-companies-report/ https://earlybirdsinvest.com/white-house-looking-to-ban-banks-from-discriminating-against-certain-clients-including-crypto-companies-report/#respond Wed, 06 Aug 2025 17:13:18 +0000 https://earlybirdsinvest.com/white-house-looking-to-ban-banks-from-discriminating-against-certain-clients-including-crypto-companies-report/

The Trump White House has reportedly set its sights on punishing banks it believes have been debanking conservatives.

The Wall Street Journal says it has reviewed a draft executive order that would instruct banking regulators to probe banks that may have violated the Equal Credit Opportunity Act.

Regulators would also be directed to investigate whether the financial institutions have broken antitrust and/or consumer financial protection laws.

Anonymous sources “familiar with the matter” tell the WSJ that President Donald Trump could pass the order this week.

The order, which would subject violators to fines, doesn’t name banks but reportedly alludes to an instance where Bank of America allegedly debanked a Christian organization over its religious beliefs. BofA says it shuttered the organization’s account because it doesn’t provide services to small businesses operating abroad.

BofA CEO Brian Moynihan argued in an interview with Face the Nation over the weekend that the regulators are to blame, not his bank.

“We have 70 million consumers and we’re one of the biggest small business lenders. So that’s not it. The issue they’re focused on is the regulators’ impact on this industry, and you heard Senator [Tim] Scott talk about this this week. This reputation, this after-the-fact look that you banked X, and now, after the fact, you’re going to say X didn’t turn out to be what you thought, so we look at it, we look at it based on risk.”

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The 2008 Orbiting Carbon Observatory and its 2014 replacement cost hundreds of millions of dollars to put in space and the data recorded is of such “exceptional” quality that farmers use it to track their fields, optimize yields and predict droughts. They were built, all the same, to monitor greenhouse gases and climate change. Accordingly, the Trump administration wants it destroyed, because it’s woke.

The equipment in space is state of the art and is expected to function for many more years, according to scientists who worked on the missions. An official review by NASA in 2023 found that “the data are of exceptionally high quality” and recommended continuing the mission for at least three years.

Both missions, known as the Orbiting Carbon Observatories, measure carbon dioxide and plant growth around the globe. They use identical measurement devices, but one device is attached to a stand-alone satellite while the other is attached to the International Space Station. The standalone satellite would burn up in the atmosphere if NASA pursued plans to terminate the mission.

Destroying our own cutting-edge space installations to own the…American farmers? I suppose it saves China the cost of two SC-19 missiles when they finally cut loose.

Previously:
• First ‘artisanal’ satellite made from wood launched into space
• Satellite photos of North Korea’s capsized new warship

August 1st, 2025 – New York, United States

Plume, the real world asset (RWA) chain, welcomed the inclusion of its consultation and insights in the President’s Working Group on Digital Asset Markets report.

Plume was highlighted for its contribution of market insights on tokenization of real world assets.

Last week, Plume released a set of forward-looking policy recommendations calling for the development of capital markets policy. In the memo, the team called for capital markets regulation that matches the innovation unlocked by stablecoins. The Working Group’s newly released national roadmap affirms that vision, highlighting the role of permissionless infrastructure, tokenized financial products, and updated regulatory frameworks in advancing U.S. leadership in digital finance.

“The Report is a full-throated endorsement of permissionless blockchains and decentralized finance at the heart of a future onchain financial system. Plume has worked to sate global demand for US dollar assets through offshore work arounds. This Report is the blueprint for the onshoring of onchain capital markets under a regulatory framework that addresses real risks but also realizes new opportunities,” said Salman Bananei, General Counsel at Plume. 

The Report aligns with Plume’s core belief that open, permissionless blockchains and DeFi can strengthen markets when paired with responsible oversight. This reinforces the value of decentralized infrastructure under thoughtful regulation.

It also echoes Plume’s call for regulatory clarity, supporting innovation sandboxes, safe harbors, and updated rules around custody, registration, and capital treatment, especially for assets on public blockchains.

The Report affirms that tokenized assets are the future of finance. The team at Plume have advocated for policies that enable safe tokenized yield and other onchain financial products as a part of robust onchain capital markets.

On stablecoins, the Report aligns with Plume’s position that they can modernize U.S. payments and that the government should support the “development and growth of lawful and legitimate dollar-backed stablecoins worldwide.”

Finally, the Report supports tax reforms long advocated by Plume, including treating stablecoins as money and creating a digital asset-specific tax category to support compliant onchain activity.

Plume As a Real World Asset Market Leader

At over 160,000 holders at time of writing, Plume accounts for 50% of all RWA holders across Web3. With over $300 million in total value locked (TVL) and growing, Plume is well placed to support policy as governments across the world catch up to the reality that digital assets are a foundational part of future financial structures. 

The alignment between Plume’s proposals and federal recommendations underscores the company’s leadership in shaping policy at the intersection of blockchain and traditional finance. 

About Plume

Plume is the first full-stack blockchain and ecosystem dedicated to real-world asset finance. With 200+ projects building on its EVM-compatible infrastructure, Plume makes it simple to tokenize and integrate real-world assets into DeFi applications, enabling anyone to interact with global financial markets through intuitive, on-chain tools.

Contact

Leila Stein
press@plumenetwork.xyz

The House is considering a proposal that would require the Department of Veterans Affairs to examine how distributed ledger technology, such as blockchain, can enhance the agency’s claims systems. 

The “Veterans Affairs Distributed Ledger Innovation Act of 2025” (H.R. 3455), introduced May 15 by Rep. Nancy Mace, passed its first checkpoint with a June 11 hearing before the House Veterans’ Affairs Subcommittee on Oversight and Investigations. 

The measure now waits for a vote by the full chamber.

The bill directs the Secretary of Veterans Affairs (VA) to conduct a comprehensive study on whether distributed ledgers can enhance the transparency, traceability, and resistance to fraud, waste, and abuse of benefits adjudication. 

Lawmakers frame the effort as a response to persistent complaints about slow, opaque processing and data errors that can delay or misdirect payments owed to veterans.

Immutable records

Under the text, the VA must explore how a distributed ledger could securely log each step in a claim, verify information to weed out false filings, and flag irregularities in benefit delivery.

The department would need to consult technologists, veterans’ service organizations, and other federal agencies that are already experimenting with distributed ledgers. 

Within a year of enactment, the Secretary would report back to Congress with findings on the feasibility, benefits, and risks, along with recommendations for pilot programs and any statutory or administrative changes necessary to deploy the technology.

The bill also spells out what it means by a distributed ledger. By codifying the definition, lawmakers aim to avoid confusion over whether the VA could satisfy the mandate with a conventional database dressed up in new terminology.

If the House approves the measure, it would move to the Senate for consideration. 

Notably, the veteran-related proposal now sits alongside other bills, such as the Blockchain Regulatory Certainty Act, authored by Rep. Tom Emmer, and the Deploying American Blockchains Act, introduced by Rep. Bernie Moreno.

Mentioned in this article

On July 17, the US House of Representatives voted 308-122, in favour of the Genius Act. This law is currently heading towards the president Trump’s The desk potentially sets the stage for the first clear federal rules regarding digital tokens for dollar pegs.

Stablecoins are in the spotlight

Genius act I’ll layout it a Simple Rules: All Stablecoins must provide one-to-one support for cash or liquid assets. and Issuers must create these reserves public. Supporters say This helps prevent another terra-style meltdown give US users use coins whenever possible actually trust.

Tomorrow Friday at 2:30pm EST

The moments of history are recorded for history

Signing ceremony for industry leaders and lawmakers is there to witness Trump

Signing the Genius Act https://t.co/ixrrl0a92y pic.twitter.com/pjjlqxlveo

– Majeed July 17, 2025

Movement too answer Increased pressure from Crypto supporters ask For clearer rules Around it Transparency and security.

3 invoices, 1 big push

Stablecoin Bill is part of a wider package. Alongside the Genius Act, the House has passed the Clarity Act and the CBDC Surveillance National Act. By giving Clarity Act more control over the crypto market to the CFTC, the CBDC bill aims to block the Federal Reserve’s digital dollar efforts. Republicans have moved all three forward while they’re doing Called “Crypto Week,” A set of coordinated legislative measures aimed at rewriting Country An approach to digital assets.

Discover: 9+ Best High Risk, High Reward Cryptographs for Buying in July 2025

Trump’s Cryptographic Pivot

President Trump is openly supporting him Crypto Over the last few months, he has revealed what he wants look It is led by the United States. Signing a genius act will help him to show a follow-through to that message.

24 hours7d30D1Yeverytime

It’s in contrast to the previous one Administration A more cautious approach is hard to overlook, and Trump has embraced crypto policy as a wedge issue heading into election season.

Not everyone It’s for sale

Not everyone praises it. Representatives like Maxine Waters and Elizabeth Warren, building Lack of stronger protections. They also flagged potential conflicts of interest, noting that some members of the Trump family have connections with crypto companies. Meanwhile, trade groups see the bill as a welcome signal that Washington is willing to engage rather than ultimately limit it.

Discover: Next 1000x ciphers: 10+ crypto tokens that can hit 1000X in 2025

The Senate is still playing

The Genius Act has already passed the Senate, but the other two bills still need to clear that room. The big question now is whether Senate leaders will track them quickly or if they’ve got stuck. in any case, The results can determine how much regulatory clarity the crypto market will become Get it before the next election.

What the market thinks

Traders saw this coming. Bitcoin was already stable when the bill was passed prior to the vote. Analysts say the next stage will depend on what happens in the Senate. Congress continues and when the president signs all three bills, it opens the door to new capital flowing into space. especially From the institution that stayed on the bystanders.

I’ll summarise that

The act of genius could be the beginning of a new phase in US crypto policy. It sets precedents on stubcoin, indicating that lawmakers are beginning to take digital assets seriously. but The actual test will be what happens next and whether the Senate and the White House will be able to do turn around This momentum towards lasting law.

Discover: 20+ Next Cryptocurrency to Explode in 2025

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Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated: 

July 18, 2025

XRP surged past a historic milestone on Friday, trading above $3.60 for the first time, after a wave of bullish developments reshaped the regulatory and market landscape for the Ripple-linked asset.

The token peaked at $3.64, up nearly 68% over the past month, according to market data, as investors responded to a flurry of major catalysts.

Chief among them was three key crypto bills passing in the US House of Representatives, including the long-awaited GENIUS Act and CLARITY Act, which aim to bring legal clarity to digital assets.

XRP Gets Institutional Boost With ETF Debut

Adding fuel to the rally, ProShares is set to launch the first XRP futures ETF in the US on the same day. As a result, this move opens the door for broader institutional participation in the XRP market, which until now has been largely out of reach for many traditional investors.

Further, the momentum has attracted heavyweight interest. Eleven major asset managers, including Franklin Templeton, Grayscale, 21Shares and Bitwise, have already filed applications linked to XRP investment products. Together, these filings signal growing confidence in the asset’s long-term potential.

2023 XRP Court Win Could Soon Be Final

On the regulatory front, traders are watching closely for a possible breakthrough. Market chatter suggests the US SEC may soon drop its appeal in the high-profile Ripple case. If that happens, it would cement a 2023 court ruling that found XRP sales to retail investors do not constitute securities offerings under US law.

Prediction markets seem to agree. For instance, Polymarket now assigns an 88% probability that a spot XRP ETF will be approved by Dec. 2025.

In the near term, traders are closely watching two key dates: July 21 and July 25. On these days, leveraged ETF proposals could be finalized. If that happens, it may trigger broader adoption of XRP-based ETFs.

XRP Open Interest Soars 25% to $4.6B in 24 Hours

Meanwhile, derivatives market activity has surged. Coinalyze data shows XRP open interest jumped 25% in the past 24 hours, reaching $4.6b. Nearly all of that is concentrated in perpetual contracts. Notably, Binance and Bybit dominate the market, holding $1.8b and $1.6b in open interest, respectively.

Additionally, CoinGlass data reinforces the trend. In the past 24 hours, XRP liquidations reached $88.54m. This figure is higher than Bitcoin’s $79.67m and second only to Ethereum’s $206.65m. Notably, the liquidations were heavily skewed toward short positions. This suggests many traders were caught off guard by the sudden price jump.

Overall, the crypto market saw widespread liquidations. More than 153,000 traders were wiped out in a single day. In total, $577m in positions were lost. XRP played a major role in driving this volatility.

The rally’s strength appears to be gaining solid support. Rising institutional interest and whale accumulation are driving momentum. As a result, analysts now view a breakout toward $4 as a realistic short-term target.

XRP’s rise marks a sharp turnaround for the token. For much of the past three years, it was weighed down by regulatory uncertainty. Now, things have changed. With fresh legislative clarity, ETF momentum and strong market support, XRP seems to be entering a new era of legitimacy.