Elon Musk And DOGE Explore Blockchain Potential, Fidelity Expands To Solana & More

Welcome back!

This is J264G and this week I’ve got these titbits for you:

• Crypto Awakening: President Trump’s crypto executive order explained.

• Government Efficiency: Elon Musk & DOGE explore blockchain potential.

• Institutional Adoption: $5 trillion asset manager Fidelity expands to Solana.

From the Oval Office to Wall Street — crypto has everyone’s attention.

Now, let’s jump right into this week’s newsletter!

Click on any underlined heading/hyperlink to learn more.

Spotlight

Crypto Awakening

Crypto is entering a new era.

On January 23, President Trump signed an executive order that has fundamentally transformed the landscape of blockchain technology — both in the United States and beyond.

Titled Strengthening American Leadership In Digital Financial Technology, the executive order establishes a bold and forward-thinking agenda, with the goal of positioning the U.S. as a global leader in blockchain innovation. 

Here’s a breakdown of the most critical points from the executive order:

• President’s Working Group: Primarily, the executive order establishes the President’s Working Group on Digital Asset Markets. It's chaired by David Sacks and joined by Scott Bessent (Treasury Secretary) — known for investing in Bitcoin ETFs — and Howard Lutnick (Commerce Secretary) — CEO of Cantor Fitzgerald (on the way out), which holds significant Tether reserves and owns a stake in the stablecoin issuer. The group is tasked with crafting a framework to govern and operate digital assets while also evaluating the potential for a national digital asset stockpile. Interestingly, the stockpile may include cryptocurrencies lawfully seized by the government. 

• Guarding Self Custody: One of the most groundbreaking aspects of the executive order is its commitment to ensuring the right to self custody. This provision underscores the administration’s belief that individuals should maintain control over their onchain assets without the need for intermediaries — enshrining autonomy and freedom.

• Promoting Stablecoins: The executive order also explicitly emphasises the importance of developing and growing lawful, dollar-backed stablecoins — not just domestically but worldwide. This is significant, as stablecoins have the potential to reshape global commerce and finance by powering faster, cheaper, and more efficient money movements.

• Boosting Open Source: Further, the executive order focuses on “open public blockchain networks” and “permissionless blockchains”, essentially prioritising systems built on publicly available source code — centralised and/or closed-source enterprise blockchains may now encounter substantial obstacles.

• Rejecting CBDCs: Additionally, the executive order explicitly prohibits the establishment, issuance, and use of a Central Bank Digital Currency (CBDC) within the United States. This decision sets the U.S. apart from countries such as China, ensuring that financial innovation aligns with principles of privacy, freedom, decentralization, and open-market competition.

For sceptics who still dismiss crypto as a fleeting trend or a niche technology, this executive order is a wake-up call. The White House is no longer sitting on the sidelines — it is actively championing blockchain technology by integrating it into the fabric of financial policy, positioning the U.S. as a global leader in crypto.

Consequently, both crypto assets and crypto infrastructure are here to stay, and with the U.S. leading the charge, the possibilities for innovation are limitless.

Crypto’s future is brighter than ever, and the world is finally catching on.

Chart Of The Week

News Bites

American Dynamism: The crypto industry has seen significant developments over the past few days. For instance, the SEC has established a new Crypto Task Force to create a clear and comprehensive regulatory framework for crypto assets. Additionally, the agency has rescinded SAB 121 — permitting banks to custody crypto assets. Also, Senator Cynthia Lummis has been named the first-ever chair of the new digital assets subcommittee, marking another historic milestone. 

Government Efficiency: Elon Musk and his Department of Government Efficiency (DOGE) are exploring the use of blockchain technology to streamline government operations. This initiative signals the Trump administration’s continued support for advancing the crypto industry.

Onchain Agents: Onchain agents can now be integrated into Shopify stores, paving the way for innovative, blockchain-powered e-commerce solutions. Watch how an onchain agent leverages USDC to autonomously buy beverages from a Shopify store here.

Institutional Adoption: Fidelity, a $5 trillion asset manager, is expanding to Solana. A recent post on the Solana job board highlights that the entity is hiring a principal blockchain engineer to help build out a secure crypto platform.

Memecoin ETFs: REX Advisers and Osprey Funds have filed TRUMP, DOGE, and BONK ETFs with the SEC, marking a new chapter for memecoin adoption in traditional finance.

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

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Talk soon!

J264G

_{DISCLAIMER
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. Lastly, please be advised that we discuss products and services from our partners from which our team members may hold tokens/equity.}