Trump Backs Congressional Stock Trading Ban, Slams Pelosi Over Profitable Insider Trades

Swiss Central Bank Rejects Bitcoin Reserve Proposal, Citing Volatility and Liquidity Concerns

Swiss National Bank Chairman Martin Schlegel dismissed the idea of holding bitcoin in the bank’s currency reserves, citing high volatility and insufficient market liquidity. His remarks came amid a growing campaign led by crypto advocates pushing for a referendum to mandate the SNB to hold bitcoin alongside gold. The initiative argues that global economic uncertainty, such as trade tensions under former U.S. President Trump, underscores the need for reserve diversification. Schlegel maintained that cryptocurrencies currently do not meet the bank’s standards for reserve assets.

DeFi Development Company Files $1 Billion Shelf Offering as It Expands into Solana and Crypto Assets

DeFi Development Company (formerly Janover) has filed a $1 billion shelf offering with the SEC, allowing it to issue a range of securities including stock, debt, and warrants. The company, which holds $34.4 million in Solana (SOL), is following in the footsteps of Bitcoin-focused companies like MicroStrategy by purchasing Solana and staking tokens for yield. DDC has also rebranded and integrated crypto payments, accepting BTC, ETH, and SOL for its commercial property debt financing services. The offering could provide investors exposure to cryptocurrency assets while the firm builds validators and expands its crypto strategy.

BlackRock’s Bitcoin ETF Nears 3% of Total BTC Supply

BlackRock’s spot Bitcoin ETF now holds 2.77% of all bitcoin in circulation—over 582,000 BTC valued at nearly $56 billion—reflecting rising client demand despite being a fraction of BlackRock’s $12 trillion in assets. This week alone, the ETF added $1.2 billion worth of BTC, including a $643 million single-day inflow, its largest in 13 weeks. The firm also launched a Bitcoin product in Europe, signaling global interest. As macroeconomic instability grows, BlackRock executives and figures like Michael Saylor view Bitcoin as a hedge, with Saylor predicting BlackRock’s IBIT could become the world’s biggest ETF within a decade. CEO Larry Fink echoed these sentiments, warning that unchecked U.S. debt could elevate Bitcoin’s role as a reserve asset.

Whales Drive Accumulation and Exchange Outflows Hit Two-Year High

Bitcoin has rebounded to $94,000 after dipping below $75,000 earlier this month, with crypto whales leading the charge in accumulation. Glassnode’s Accumulation Trend Score shows large investors are actively buying, with wallets holding over 10,000 BTC scoring 0.90. Smaller wallets are also shifting toward accumulation. Meanwhile, CryptoQuant reports the highest bitcoin outflows from centralized exchanges in two years, indicating a strong move toward long-term holding through self-custody.

Trump Supports Congressional Stock Trading Ban, Targets Pelosi Amid Scrutiny Over Lucrative Trades

President Trump told Time Magazine he would sign a bill banning congressional stock trading, directly accusing Rep. Nancy Pelosi of profiting from insider knowledge through her husband’s trades. While Pelosi denies personal involvement, financial disclosures show the couple’s net worth has more than doubled since 2015, with exceptionally well-timed trades in tech stocks like Nvidia and Tempus AI. Critics argue her gains far exceed market benchmarks and raise concerns about ethics and access to non-public information. Although Pelosi resisted such a ban while Speaker, momentum is building in Congress to outlaw the practice, with bipartisan support growing behind new legislation.

Resources:

sec.gov

Reuters

Time

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