🇺🇸 A Historic Week for Crypto!

Bullish tailwinds despite macro headwinds

Apr 11, 2025

Happy Friday Thinkers 💡

What a week it’s been for crypto! We are witnessing historic progress for the digital asset industry—led by the U.S. government. Here’s a breakdown of this week’s most important developments:

🇺🇸 President Trump Signs First-Ever Crypto Bill Into Law

President Donald J. Trump made history by signing H.J. Res. 25, officially repealing the IRS’s “DeFi Crypto Broker Rule.”
This marks the first cryptocurrency bill ever signed into law by a U.S. President.

More importantly, it signals Trump’s commitment to crypto. He’s now pushing Congress to get both market structure and stablecoin legislation finalized and on his desk before the August recess.

🔗 Last week, I interviewed Bo Hines, Executive Director of the Presidential Council of Advisers for Digital Assets, who detailed this very roadmap. Watch the full interview here:

⚖️ DOJ Disbands Crypto Enforcement Unit

In another major move, the U.S. Department of Justice shut down its National Cryptocurrency Enforcement Team (NCET)—which was behind high-profile cases like Tornado Cash and the Mango Markets exploit.

This aligns with President Trump’s directive to end regulation by enforcement, a hallmark of the previous administration. The crypto industry has long called for this shift, and it’s finally happening.

🛠️ SEC Moving Toward a Sandbox Approach

Today’s SEC Crypto Roundtable delivered more bullish news:

Acting Chair Mark Uyeda floated the idea of a regulatory sandbox for firms—registered or not—dealing in tokenized securities.
Paul Atkins, a pro-innovation voice, was confirmed as the new SEC Chair this week by the Senate and is expected to collaborate with Uyeda to create real regulatory clarity.

⚖️ SEC Drops More Cases

The SEC is backing off several enforcement actions:

Nova Labs, creator of the Helium Network, announced the SEC dropped its claims regarding unregistered securities.
Ripple and the SEC filed a joint motion to pause the appeal, signaling a settlement is near—pending Commission approval.
Binance and the SEC jointly requested a 60-day pause in their case, citing productive negotiations influenced by the new Crypto Task Force direction.

This is a massive shift away from the combative posture we saw the past few years.

💸 The Fed Signals QE Is on the Table

As I’ve noted in previous newsletters, the Fed is slowly pivoting back toward Quantitative Easing (QE).

Today, Boston Fed President Susan Collins said the central bank “does have tools to address concerns about market functioning or liquidity should they arise.” Translation? QE is likely next.

With markets still shaky from tariff tensions, Trump’s 90-day tariff pause offered temporary relief. But QE—or whatever new name they give it—could be the macro tailwind we need.

QE would add to the already rising global liquidity, which is great news for risk assets like Bitcoin.

🐋 Bitcoin Whales Keep Accumulating

Despite slowdowns in February and March, Bitcoin whales haven’t stopped stacking BTC.
On-chain data continues to show aggressive accumulation. Smart money knows something. The setup for Bitcoin and crypto overall is looking better by the day.

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