Bo Hines: US plans to expand Bitcoin reserve using gold revaluation and tariffs
The United States is actively exploring numerous strategies to build its Strategic Bitcoin Reserve without relying on taxpayer dollars, according to Bo Hines, Executive Director of the White House’s crypto council under the Trump administration. In an interview with Anthony Pompliano on April 14, Hines explained that the government is evaluating innovative and budget-neutral options, such as using tariff revenues and revaluing existing gold certificates held by the U.S. Treasury.
Currently, the Treasury holds gold certificates valued at an outdated $43 per ounce. Hines suggested these could be revalued at the current market price of approximately $3,200 per ounce, generating a substantial paper surplus. This surplus could then be used to purchase Bitcoin without having to sell any gold, allowing for a creative, non-taxpayer-funded way to accumulate digital assets.
The Bitcoin reserve’s initial holdings will come from assets seized in criminal cases. However, the broader strategy aims to scale these holdings through other innovative means, as part of the Trump administration’s ambition to make the United States a global leader in crypto adoption.
In the same interview, Hines revealed that the administration is developing a comprehensive digital asset framework. This framework will provide regulatory clarity for various crypto-related activities, including tokenization and staking. The report, which is expected by late July or August, reflects the administration’s rapid pace and startup-like energy in embracing crypto technologies.
Hines emphasized that “everything is on the table” when it comes to accumulating Bitcoin, reaffirming the administration’s aggressive stance on making the U.S. the “crypto capital of the world.” He also highlighted the importance of stablecoins tied to the U.S. dollar as part of the nation’s global digital finance strategy.
Notably absent from the conversation were potential conflicts of interest linked to Donald Trump’s personal involvement in crypto. Controversy surrounds the “Official Trump” (TRUMP) memecoin and the Trump family’s partnership with World Liberty Financial. Critics, including Representatives Gerald Connolly and Maxine Waters, have labeled the TRUMP token a “money grab” and likened it to a rug pull, accusing associated entities of profiting over $100 million in trading fees.
David Sacks, the White House’s crypto and AI lead, attempted to downplay the memecoin, calling it merely a collectible. Additionally, Hines did not comment on whether the mandated audit of U.S. Bitcoin holdings — ordered in March — had been completed. The audit was supposed to conclude within 30 days of the executive order establishing the Bitcoin reserve.
Source: Cointelegraph
Vitalik Buterin urges ethical development for ethereum’s application layer
On April 14, 2025, Ethereum co-founder Vitalik Buterin emphasized the importance of embedding a “good social philosophy” within Ethereum’s application layer. He argued that while the infrastructure layer (Layer 1) is designed to be general-purpose and neutral, the application layer (Layer 2) is where developers’ values, ethics, and worldviews significantly influence the ecosystem.
Buterin illustrated this by comparing Ethereum to the programming language C++. He noted that C++ remains largely unaffected by the ideologies of its creators, serving as a neutral tool. In contrast, Ethereum’s design and evolution have been shaped by social considerations, such as the transition to Proof of Stake driven by environmental concerns. He estimated that while the infrastructure layer is about 50% general-purpose, the application layer is approximately 80% special-purpose, reflecting the specific intentions and philosophies of its developers.
Highlighting the impact of social philosophy on decentralized applications (dApps), Buterin cited examples of both positive and negative implementations. He praised projects like Railgun, Polymarket, Farcaster, and Signal for aligning with values such as privacy, decentralization, and meaningful use cases. Conversely, he criticized platforms like FTX, Terra/LUNA, and Pump.fun for embodying poor social philosophies, leading to negative outcomes within the crypto space.
Buterin’s remarks sparked discussions within the Ethereum community. While some supported the emphasis on ethical considerations in dApp development, others expressed concerns that focusing on philosophy might divert attention from pressing technical challenges like scalability, transaction fees, and network speed. This debate underscores the ongoing tension between advancing technological capabilities and ensuring that the applications built upon them serve the broader good.
In summary, Buterin advocates for a conscientious approach to dApp development on Ethereum, urging developers to consider the societal implications of their work. By fostering applications grounded in positive social philosophies, the Ethereum ecosystem can aim to deliver technologies that not only function effectively but also contribute meaningfully to society.
Source: ZyCrypto
Canada to launch world’s first spot Solana ETFs
On April 16, 2025, Canada will make history by launching the world’s first spot Solana (SOL) exchange-traded funds (ETFs), introducing a pioneering staking mechanism. This initiative is led by two Canadian asset management firms, 3iQ and Purpose Investments, both of which have previously introduced spot Bitcoin and Ethereum ETFs. The new Solana ETFs aim to provide investors with direct exposure to SOL while also offering staking rewards, a feature that sets them apart from traditional ETFs.
The staking component of these ETFs is particularly noteworthy. It allows investors to earn passive income through Solana’s proof-of-stake consensus mechanism, where participants validate transactions and maintain the network’s security. By integrating staking into the ETF structure, investors can benefit from potential yield generation without the complexities of managing private keys or setting up staking infrastructure themselves.
This move is seen as a significant step in bridging the gap between traditional finance and the decentralized finance (DeFi) ecosystem. By offering a regulated and accessible investment vehicle that incorporates staking, these ETFs could attract a broader range of investors to the Solana ecosystem. Moreover, it sets a precedent for other asset managers and regulatory bodies worldwide to consider similar products, potentially leading to increased adoption of staking-enabled ETFs in other jurisdictions.
The launch of these ETFs also highlights Canada’s progressive stance on cryptocurrency regulation and innovation. By being the first country to approve such a product, Canada positions itself as a leader in the integration of digital assets into mainstream financial products. This could have broader implications for the global financial industry, encouraging other countries to explore and adopt similar innovations in the cryptocurrency space.
In summary, Canada’s introduction of the world’s first spot Solana ETFs with an integrated staking mechanism represents a groundbreaking development in the intersection of traditional finance and blockchain technology. It offers investors a novel way to gain exposure to Solana while participating in the network’s staking rewards, all within a regulated and accessible framework. This initiative not only enhances the appeal of Solana as an investment but also sets a new standard for how digital assets can be incorporated into traditional financial products.
Source: Cointrackdaily