Unchained
Unchained
Laura Shin
Bits + Bips: Why a US Strategic Crypto Reserve Doesn’t Even Make Sense - Ep. 794
1 hour 27 minutes Posted Mar 5, 2025 at 12:00 pm.
Whether a strategic crypto reserve makes sense for the U.S.
How this reserve could actually give people outside of crypto second thoughts
What the Crypto Roundtable will be about and whether it’s what the industry wanted
Whether David Sacks is directing the reserve allocations so as to personally benefit
Why Noelle was surprised after the SEC stated memecoins are not securities
James’ insights into the avalanche of altcoin ETFs
The significance of BlackRock adding IBIT to its model portfolio
How macro news drove risk assets to such a selloff on Monday
Why the 10YT is such a significant chart to watch
Whether the war in Ukraine is coming to an end
What the next catalyst for crypto is
Whether stablecoins are a good business for banks
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Show notes
A strategic crypto reserve for the U.S. economy? That’s Trump’s latest proposal (or directive?)—and the reaction from the industry has been… let’s just say, mixed. Would it even work? And does it create more problems than it solves?Meanwhile, the White House is hosting a crypto roundtable—but not everyone is convinced it’s going to be productive. Who will be in the room, what will actually be discussed, and will it help or hurt the industry?On this episode of Bits + Bips, hosts James Seyffart and Noelle Acheson together with guests Steve Hou and Steven Ehrlich break it all down. Will tariffs and macro factors keep weighing on crypto? What’s driving the explosion in new ETFs? And what happens if banks start issuing their own stablecoins?Plus: What could be the real next catalyst for the crypto market.Show highlights:
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Hosts:
James Seyffart, Research Analyst at Bloomberg Intelligence
Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter 
Guests:
Steve Hou, Quantitative Researcher at Bloomberg LP 
Steven Ehrlich, Executive Editor at Unchained
LinksCrypto reserve:
Unchained: Why Trump May Have Chosen This Week to Announce a Strategic Crypto Reserve
Bloomberg: Bitcoin Reserve Is Likely to Come First From States, Senator Lummis Says
Crypto roundtable: 
CoinDesk: Trump to Host First Crypto Roundtable at White House Next Week
Crypto Czar David Sacks says he sold crypto holdings before administration began
Memecoins:SEC: Staff Statement on Meme Coins
ETFs: 
SOL: CME Group to launch Solana futures on March 17 as ETF momentum builds
BlackRock Adds Its Bitcoin ETF to Model Portfolio for First Time 
Macro:
Trump’s tariff post on Truth Social
​​Atlanta’s negative 2.8% GDP projection
CNBC: 10-year Treasury yield falls to lowest since December on latest signs of slowing economy
Reuters: 
Inflation, growth may be in conflict but Fed seen restarting cuts in June
US weekly jobless claims post largest gain in five months; weather blamed
Stablecoins:CoinDesk: Bank of America CEO Says Bank Will Likely Launch Its Own Stablecoin
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