Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

BTC Climbs Closer to $98,000, 24-Hour Decline of 1.1%

BTC has climbed closer to $98,000, currently quoted at $98,072, with a 24-hour decline of 1.10%.

U.S. Expected To Pass Cryptocurrency Legislation By November 2025

Anthony Scaramucci, the founder of SkyBridge Capital, anticipates that the United States will enact cryptocurrency-supportive legislation by November 2025. He suggests that lawmakers often push for favorable regulations before the Christmas recess.

Trump’s Crypto Czar Is Studying Feasibility of US Bitcoin Reserve

The feasibility of Donald Trump’s ambition to create a national reserve of Bitcoin is still being studied by officials in the administration, White House crypto czar David Sacks said as he met with lawmakers to advance the new president’s policies on digital assets.

“That is one of the first things we’re going to look at as part of the internal working group in the administration,” Sacks said of a potential Bitcoin reserve at a press conference in Washington on Tuesday. “We’re still waiting for some cabinet members who are on the working group to get confirmed, so we’re still in the very early stages of this. But that is one of the first things we’re going to look at.”

When asked how the crypto industry will be involved with the White House’s efforts, Sacks said “we’ll have an announcement at some point that will be the authorization to do some sort of outreach with the industry.”

Elon Musk Updates X Account Bio To 'White House Tech Support'

Elon Musk has updated his X account biography to read 'White House Tech Support.'

MicroStrategy’s Financial Gambit Hits a Bump With New Stock Deal

MicroStrategy’s seemingly limitless moves to raise capital for its Bitcoin purchases have run into their first obstacle.

The self-styled Bitcoin treasury company sold preferred stock units — rare, debt-like securities dangling an 8% coupon — last week, but it had to cater to price-sensitive buyers by pricing them at a sizable discount. The shares were sold for $80 apiece, 20% below their marketed price, effectively pushing the yield to 10% for buyers — a steep concession to finalize the deal.

Still, the deal’s investor-friendly terms enabled the Tysons Corner, Virgina-based company to raise $563 million — more than double the initial target — as co-founder and Chairman Michael Saylor explores multiple slices of capital structure to support his Bitcoin-buying strategy. The demand shows the market’s interest in this asset class, which the company said it could use to raise as much as $2 billion this quarter, despite it being more expensive than the ultra-low coupon convertible bonds and at-the-money shares it has issued previously.

Trump’s Crypto Project Appears to Have Bought Ether After Tariff Meltdown

World Liberty Financial, the decentralized-finance project linked to Donald Trump’s family, appears to have added tens of million of dollars worth of the Ether cryptocurrency after crypto markets crashed during the weekend as the US president briefly imposed tariffs on Mexico and Canada.

And Eric Trump, the president’s third child, posted on social media platform X on Monday that “In my opinion, it’s a great time to add $ETH. You can thank me later.” He has since edited the post and deleted the second sentence. Representatives for World Liberty and the Trump Organization did not immediately respond to requests for comment.

Peter Thiel-Backed Crypto Firm Weighs IPO

Bullish Global, a cryptoasset exchange operator whose backers include billionaire Peter Thiel, is considering an initial public offering as soon as this year, according to people familiar with the matter.

Bullish is a subsidiary of Block.one, a blockchain software company whose backers include Thiel, Alan Howard, Louis Bacon and Richard Li, according to an earlier statement. Block.one, whose co-founder and CEO Brendan Blumer also serves as Bullish’s chairman, launched the company in 2021 and capitalized Bullish with about $10 billion in digital assets and cash.

Bitcoin Spot ETF Flow

On Feb. 4 (Eastern Time), the total net inflow for Bitcoin spot ETFs was $340.82 million, according to SoSoValue data.

The Bitcoin spot ETF with the highest net inflow on Feb. 4 was iShares Bitcoin Trust, with a net inflow of $249.04 million. Following that was ARK 21Shares Bitcoin ETF, with a net inflow of $56.12 million.

As of now, the total net asset value of Bitcoin spot ETFs is $116.04 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.93%.