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Bitcoin Surpasses $88,000 with a Narrowed 4.67% Decrease in 24 Hours

Bitcoin has crossed the $88,000 benchmark and is now trading at $88,296, with a narrowed 4.67% decrease in 24 hours.

Trump To Address Digital Asset Summit At White House

According to PANews, U.S. President Donald Trump is scheduled to deliver a speech at the White House Digital Asset Summit on March 7 at 3 p.m. Eastern Time (March 8 at 4:00 a.m. UTC+8). The summit is set to commence at 2:30 a.m. UTC+8 on March 8.

Trump Signs Executive Order Officially Establishing Crypto Reserve

President Trump signed an executive order Thursday officially establishing a strategic bitcoin reserve and a stockpile for other cryptocurrencies, following through on a campaign promise to an industry that helped him get elected.

The order signed Thursday clarified that new purchases can only be made for bitcoin, the oldest and most valuable cryptocurrency. And even those purchases would have to be budget neutral so they don’t cost taxpayers money, the order said, without going into detail on how they would be done.

Other cryptocurrencies will be held in a stockpile consisting of digital assets seized by law enforcement. They are likely to include ether, XRP, solana and cardano, the cryptocurrencies Trump mentioned in his social-media post Sunday, depending on how much of each the government holds.

Trump Administration to Announce Key Digital Asset Taxation Measures

According to Odaily, user @mikealfred stated on the X platform that multiple sources have confirmed the Trump administration will make a significant announcement regarding digital asset taxation at tomorrow's summit. The announcement is expected to introduce new regulatory measures or plans that could have a profound impact on the digital asset industry. Further details will be revealed during the summit.

South Korea Accelerates Drafting Of Virtual Asset Legislation

South Korean financial authorities are expediting the drafting process for the second phase of virtual asset legislation. This phase will address corporate regulation and token circulation disclosure. Kim Byung-hwan, Chairman of the Financial Services Commission (FSC), stated during a parliamentary meeting that the global cryptocurrency regulatory landscape is expected to change rapidly following recent actions by U.S. President Donald Trump's administration. He emphasized the necessity for South Korea to keep pace with these global developments.

Dubai’s Emirates NBD Launches Crypto Trading Through Digital Arm

The largest bank in Dubai has partnered with digital-assets firm Aquanow to start offering cryptocurrency services through its digital banking arm.

Users of Emirates NBD’s digital bank Liv can now buy, sell and trade cryptocurrencies through the Liv X app, according to a statement.

It’s the latest sign of banks pushing deeper into the digital-assets space after an extended rally that culminated in Bitcoin hitting a record of $109,241 on Jan. 20. Italy’s largest bank Intesa Sanpaolo SpA recently made its first spot Bitcoin purchase, while Switzerland’s PostFinance AG in January expanded its digital-asset offering to include Ether staking.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Thursday was $134.26 million. The total net asset value of Bitcoin spot ETFs is $100.60 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.7%.

The Bitcoin spot ETF with the highest net outflow on Mar. 6 was iShares Bitcoin Trust, with a net outflow of $50.58 million. Following that was Grayscale Bitcoin Trust, with a net outflow of 34.51 million, according to SoSoValue.

SoSoValue