In an interview with Fox News, Trump suggested Bitcoin could help pay down the US's $35 trillion national debt. He acknowledged the rapid adoption of cryptocurrencies and warned of potential technological advances by other countries like China. Trump joins other Republicans, such as Wyoming Senator Cynthia Lummis, promoting Bitcoin investments. He hinted at potential government distributions of Bitcoin.
Meanwhile, Genesis began distributing BTC and ETH to creditors as part of its Chapter 11 bankruptcy plan, with significant amounts already transferred. Notably, creditor Mark Cuban received $19.9 million in ETH. The largest cryptocurrency, Bitcoin, saw its market price briefly dip below $63,000 due to these movements but has since regained the $63,100 level.
