Musk’s D.O.G.E. shakes up Congress

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Senate chair admits Congress ‘can’t do anything’ as Musk’s D.O.G.E takes control

Key points:

• Musk’s influence grows, raising concerns over regulatory rollbacks and business-government conflicts.

• Congress is powerless against Musk’s government cuts as D.O.G.E. has Trump’s full support.

News - Senate Judiciary Chair Chuck Grassley admitted that Congress has no real power to stop Elon Musk’s massive government cuts. “Congress can’t do anything except complain,” he said, acknowledging the limits of lawmakers.

Musk’s Department of Government Efficiency (D.O.G.E) has full backing from President Donald Trump, making it very difficult to challenge.

Trump vs Musk - Musk’s role in the Trump administration is stirring controversy, with the White House clarifying that he is only an adviser, not a decision-maker in the D.O.G.E.

Meanwhile, Trump and Musk are set to discuss the government shake-up in an upcoming Fox News interview, marking their first joint sit-down since Trump’s return to office.

A preview shows Musk reflecting on his political shift and criticizing “Trump Derangement Syndrome.” Trump also addressed concerns over Musk’s business ties, warning him against conflicts of interest with government projects like SpaceX’s NASA contracts. He said,

“I told Elon straight up: You can’t work on government projects that interfere with your companies.”

Will Musk disrupt Trump’s efforts? - Musk’s rapid dismantling of federal agencies and growing influence in the government are raising serious concerns. His abrupt shutdown of the CFPB has left consumer protections in limbo, just as his platform, X, secures a major banking deal with Visa.

Critics argue this move benefits his business interests while stripping oversight from the fintech industry. Meanwhile, Trump has defended Musk’s authority, insisting he can regulate himself.

The global impact of Musk’s power is also drawing attention—Indian Prime Minister Narendra Modi reportedly found himself negotiating with Musk’s family instead of top U.S. officials during his recent visit, underscoring the unpredictable nature of Musk’s expanding role.

Strategy eyes more Bitcoin with $2 Billion fundraising move after unusual buying break

Key points:

• Strategy (formerly MicroStrategy) launches a private offering to fund more Bitcoin acquisitions.

• U.S. state funds hold $330 million in Strategy stock, signaling rising institutional confidence.

News - Strategy (formerly MicroStrategy) is making another big bet on Bitcoin. The firm has announced a $2 billion private offering of convertible senior notes, with plans to use the proceeds to buy more BTC.

However, in a surprising twist, Michael Saylor revealed that his company did not purchase any Bitcoin last week, briefly pausing his relentless accumulation.

What’s more? - After breaking a 12-week buying streak earlier this month, the firm paused BTC purchases last week, as confirmed by Michael Saylor. However, this slowdown appears temporary.

Shortly after, Strategy announced a $2 billion private offering of convertible senior notes, a move that aligns with its long-standing approach of leveraging stock offerings to fund Bitcoin acquisitions. With 478,740 BTC already on its balance sheet, worth around $31.1 billion, the company shows no signs of stepping back from its Bitcoin-first strategy.

Saylor’s Bitcoin insights - Recent updates further confirm that Strategy’s presence is extending beyond corporate balance sheets, with U.S. state pension funds and treasuries now holding $330 million in their stock—a strong signal of institutional confidence.

As Bitcoin adoption deepens, Saylor continues to shape the conversation, recently sharing his ‘21 Rules of Bitcoin’—a deep dive into BTC’s philosophy, adoption trends, and ownership principles.

According to Saylor, most people follow a predictable path from skepticism to understanding and, ultimately, full acceptance of Bitcoin. Thus, with Strategy doubling down on both BTC investments and thought leadership, its role in the digital asset space is only growing stronger.

SEC acknowledges Bitwise XRP ETF filing, fueling hopes for 2025 approval

Key points:

• The SEC's swift acknowledgment of XRP ETF filings signals potential regulatory progress.

• XRP's price struggles as whale accumulation remains absent despite a recent 8% surge.

News - The SEC has officially acknowledged another XRP ETF filing—this time from Bitwise. Just last week, Cboe BZX Exchange submitted multiple XRP ETF applications, including Bitwise’s, marking another step toward the potential approval of an XRP ETF. While the news hasn’t caused major price movements for XRP, the fast acknowledgment signals growing momentum for an eventual green light.

Ripple vs SEC - The past few weeks have been particularly bullish for XRP ETF supporters, as the SEC appears to be softening its stance on crypto. Recent reports suggest the regulator is considering dropping its long-standing lawsuit against Ripple, though no official decision has been made.

Meanwhile, the SEC has acknowledged multiple XRP ETF filings in record time, hinting at a shift in its approach. Grayscale’s XRP ETF proposal, filed in late January, was confirmed earlier this week, and today’s swift acknowledgment of Cboe and Bitwise’s filings further fuels speculation of an accelerated review process.

While approval is far from guaranteed, analysts see this as a promising sign—especially with growing sentiment that the SEC may soon recognize XRP as a commodity. Polymarket odds still reflect strong community confidence in a 2025 approval, but for now, the ETF hype alone isn’t enough to push XRP past broader market pressures.

Despite these developments, XRP’s price has remained largely stagnant, failing to replicate the surge seen after the first ETF acknowledgment.

XRP’s price status - Despite XRP’s recent 8% surge and a 40% spike in daily volume, the absence of significant whale accumulation raises questions about the asset’s short-term trajectory. Unlike January’s $1.5 billion whale inflows, this month has seen a noticeable lack of major buying activity, leaving traders uncertain about the market’s next move.

With Bitcoin dominating investor attention, XRP’s ability to sustain its momentum remains in doubt. If whales continue to sit on the sidelines and retail enthusiasm stays muted, XRP could struggle to hold above $2.40, potentially facing a deeper correction in the days ahead.

Pro-Bitcoin advocate Howard Lutnick confirmed as U.S. Commerce Secretary in 51-45 Senate vote

Key points:

• Howard Lutnick’s appointment brings a strong pro-Bitcoin voice to the U.S. Commerce Department.

• He supports stablecoin regulation, fair trade tariffs, and clearer crypto policies in mainstream finance.

News - Bitcoin just gained another high-profile ally in Washington. Howard Lutnick, a vocal Bitcoin advocate and former Cantor Fitzgerald CEO, has been confirmed as the new U.S. Secretary of Commerce in a 51-45 Senate vote.

His appointment to President Donald Trump’s administration has sparked optimism among crypto supporters. Industry leaders like Michael Saylor and Senator Cynthia Lummis have welcomed the move, highlighting Lutnick’s pro-Bitcoin stance and his potential to drive economic growth.

Will Lutnick change things for good? - Howard Lutnick’s confirmation as Secretary of Commerce comes at a critical time for U.S. trade policy. Overseeing a department of 50,000 employees, he is set to play a key role in executing Trump’s economic agenda, including a push for stricter tariffs.

During his confirmation hearing, Lutnick dismissed concerns about rising consumer costs, advocating for tariffs as a tool for fair trade.

Before stepping into his role as Secretary of Commerce, Howard Lutnick was best known for his leadership at Cantor Fitzgerald, guiding the firm through its post-9/11 recovery. Under his tenure, the company expanded into various financial sectors, including cryptocurrency, playing a key role in managing Tether’s US Treasury holdings and launching a $2 billion Bitcoin financing initiative.

The bigger picture - Lutnick’s appointment brings a pro-Bitcoin voice to the Commerce Department, reinforcing his long-standing belief that Bitcoin should be treated like gold and freely traded. He has consistently pushed for regulatory clarity in the crypto space, advocating for policies that integrate digital assets into mainstream finance.

His former firm, Cantor Fitzgerald, demonstrated this commitment with a significant stake in Tether and broader crypto investments. During his confirmation hearing, Lutnick also emphasized the need for stablecoin regulation, calling for U.S. Treasury backing and routine audits to ensure transparency. His leadership could shape a more crypto-friendly regulatory landscape in the years ahead.

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Did you know?

1. The Ethereum burn address (0x000000000000000000000000000000000000dEaD) is a black hole for crypto, permanently removing tokens from circulation. Unlike regular wallets, it has no private key, making any ETH or tokens sent there irretrievable forever. Once assets go in, they’re gone for good—no refunds, no recovery!

2. Several countries now offer citizenship or residency in exchange for Bitcoin investments, making crypto a gateway to global mobility. Vanuatu accepts BTC for its Citizenship by Investment (CBI) program, while El Salvador offers a residency-to-citizenship pathway. Other crypto-friendly nations, like Portugal, Malta, and Caribbean islands, also recognize Bitcoin for migration. 

3. Snoop Dogg is not just a hip-hop legend—he's also a major NFT collector. Operating under the alias "Cozomo de’ Medici," he secretly amassed a multimillion-dollar NFT portfolio, including CryptoPunks, Bored Apes, and other rare digital assets. As expected, when he finally revealed his identity, it stunned the crypto world.

Top 3 coins of the day

Litecoin (LTC)

Key points:

• LTC saw a double-digit weekly hike of 16.55%.

• The RSI climbed above 50, indicating growing bullish momentum, but Bollinger Bands hint at price volatility.

What you should know:

Litecoin (LTC) is experiencing a bullish phase, likely driven by the ongoing hype around a potential Litecoin ETF. The altcoin surged 9.48% in the past 24 hours, trading at $136.17. The Relative Strength Index (RSI) at 62 further confirms the positive momentum. However, the widening Bollinger Bands indicate increased volatility in the coming days. If LTC sustains its current upward trajectory and breaks past the $139.83 resistance level, it could enter a stronger bullish phase. Conversely, if it drops below the $129.07 support level, a bearish reversal may be on the horizon.

Solana (SOL)

Key points:

• At press time, SOL was trading at $171.26, reflecting a 12.90% drop over the last week.

• The price maintained support around $170, while the MACD suggested bearish momentum.

What you should know:

After a prolonged bearish phase with nearly a 5% decline, Solana (SOL) is showing signs of recovery. At press time, SOL was trading at $171.26, up 0.75% in the past 24 hours. However, despite this slight rebound, technical indicators suggest that bearish pressure remains. The MACD line is still below the Signal line, and red histograms under the neutral zone indicate continued downside momentum. For SOL to confirm a bullish breakout, it must surpass the $181.21 resistance level. Failing to do so could lead to a pullback, with the next support level at $165.42.

Virtuals Protocol (VIRTUAL)

Key points:

• At press time, VIRTUAL was trading at $1.00, reflecting a 24.27% decline over the past week.

• The price movement showed bearish pressure confirmed by the CMF indicator.

What you should know:

Despite the broader crypto market entering a recovery phase, VIRTUAL faced a sharp decline, plunging 68.85% in the past day to $1.00. The Chaikin Money Flow (CMF) indicator confirmed the bearish momentum, standing at -0.23, below the neutral level. However, a declining volume indicator and fading red histograms suggest that selling pressure is easing, hinting at a potential rebound. For VIRTUAL to regain bullish momentum, it must break past the $1.17 resistance level. Failure to do so could see the altcoin drop further, with the next support level at $0.89.