Lookonchain APP

App Store

The US Treasury Department Meets with Three Crypto Companies to Discuss Bitcoin Reserve Custody Solution

2025.03.14 02:00:21

On March 14th, as per Decrypt's report, insiders disclosed that the U.S. Treasury Department held meetings with executives from three cryptocurrency custody companies this week to discuss ways to safeguard the nation's strategic Bitcoin reserve. Anchorage Digital is one of the institutions participating in the meeting. Nathan McCauley, the CEO of Anchorage, stated that Treasury Department officials made in-depth inquiries about best practices for the national Bitcoin reserve and digital asset custody and discussed how custody impacts stablecoins and market structure. Congressional sources indicated that the Treasury Department is currently in a research stage and has not yet formulated a clear position but is actively seeking input from industry experts. There is currently a preference for government Bitcoin reserves to be held by third-party institutions, with the long-term goal being for the government to eventually achieve self-custody. Regarding various types of seized digital assets controlled by the government, long-term reliance on third-party custody may still be necessary. The U.S. Treasury Department has not made any comments on this.
Relevant content

Two ships flying the American flag successfully crossed the Strait of Hormuz

On May 4, per U.S. Central Command (CENTCOM), two U.S.-flagged vessels successfully transited the Strait of Hormuz. Separately, post-transit of the strait, a U.S. Navy guided-missile destroyer is currently operating in the Arabian Gulf to support the "Freedom Initiative."

1 minutes ago

Tether Gold Q1 Reserves Surge by 36% to Over $3.3 Billion, Macro Uncertainty Drives Demand for 'Hard Assets'

On May 4, Tether Gold (XAUT)—the world’s leading tokenized gold product—announced its underlying gold reserves surged 36% in Q1 2026 from the prior quarter, topping $3.3 billion in total value. The growth was fueled by record-high gold prices and growing investor demand for safe-haven assets amid persistent macroeconomic uncertainty. Tether CEO Paolo Ardoino noted XAUT’s growth signals a broader structural shift: investors are increasingly seeking programmable, liquid exposure to gold. Gold is transitioning from a passive store of value to a fully backed financial instrument that can be transferred and settled in real time. The reserves are held in Switzerland and adhere to the London Bullion Market Association’s (LBMA) "London Good Delivery" standards. XAUT operates as a regulated stablecoin issuer under El Salvador’s "Digital Assets Issuance Law."

1 minutes ago

Tokenlon's LON token has dropped by 75% in the past year and a half, and Ben He has not proactively tweeted during the same period

On May 4, chain analytics detective ZachXBT announced he would take action against Tokenlon DEX—the in-app exchange built into imToken—per GMGN data. Following the announcement, Tokenlon’s native token LON dropped ~8%. However, LON has been in a long-term downtrend since November 2024, with a cumulative 75% decline and a current market cap of $31.87 million. Data shows the LON/ETH pool on Ethereum’s Uniswap sees only single-digit daily average transactions. Its 24-hour trading volume was $47,000 (an 8,958% 24-hour increase). As of press time, Ben He has not responded to ZachXBT’s allegations. His last active tweet dates back to November 2024.

1 minutes ago

The US SEC Delays First Round of Predictive Market ETF Review, Involving ETF Products Tied to Real-World Events such as Election Results, Economic Recession, and More

May 4th (Reuters) — The U.S. Securities and Exchange Commission (SEC) has delayed its review of the first batch of predictive market ETFs, pushing back the launch of more than 24 products that were originally set to debut last week. Sources familiar with the matter said the SEC is seeking additional clarification from issuers on product mechanics and disclosure specifics, adding the delay is expected to be temporary. Issuers including Roundhill Investments, Bitwise Asset Management, and GraniteShares filed applications in February to launch ETFs tied to real-world events such as election outcomes, economic downturns, tech layoffs, and oil prices. Under SEC rules, ETF applications typically go into effect automatically 75 days after filing (with the original deadline falling this week) unless the regulator intervenes. Roundhill has set May 5th as its effective date, while Bitwise and GraniteShares’ products are also expected to launch around the same time. Bloomberg ETF analyst

1 minutes ago

ZachXBT Declares War on imToken: Majority of Trading Volume Comes from Rug Pulls and Scams in the Illegal Market

May 4 — On-chain detective ZachXBT took to social media to declare war on Tokenlon DEX, the built-in exchange of imToken. ZachXBT claimed the bulk of Tokenlon’s trading volume stems from rug pulls, investment scams, and the dark web, adding that imToken co-founder Ben He should spend the rest of his life in prison. He also announced plans to target Tokenlon and imToken in the future. Per ZachXBT, Tokenlon has minimal to no legitimate trading volume outside Southeast Asia, with a large share of its activity tied to illicit fund flows — a situation that has worsened since 2022. He also stated that offshore “whale” Chinese exchanges Butter Network, HiFiSwap, Bridgers/SWFT, and Tokenlon must face severe punishment for their alleged criminal activities.

1 minutes ago

US Military Adjusts Middle East Conflict Rules, Authorizes Strikes on Direct Threats in the Strait of Hormuz

On May 4, AXIOS reported that a U.S. official said U.S. military rules of engagement in the Middle East have changed—authorizing strikes on vessels crossing the Strait of Hormuz that pose a direct threat, including Iranian Revolutionary Guard fast boats and Iranian missile sites.

1 minutes ago