The Daily: Trumps’ crypto wealth jumps $1.4B, Strategy makes biggest bitcoin buy in over a year, OG whale moves $85M in BTC, and more

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Happy Tuesday! Bitcoin slid back under $90,000 and ether below $3,000 as leveraged bets were flushed and crypto markets repriced risk one year into President Trump’s return to office, even as analysts said the pullback looks more like consolidation than a breakdown.

In today’s newsletter, an OG bitcoin whale wakes up after 13 years of dormancy to move $85 million in BTC, Coinbase CEO Brian Armstrong says he will discuss the U.S. market structure bill with bank executives in Davos, Strategy makes its largest bitcoin purchase in over a year, and more.

Meanwhile, Bermuda teamed up with Coinbase and Circle, aiming to build a “fully onchain” economy.

P.S. Don’t forget to check out The Funding, a biweekly rundown of crypto VC trends. It’s a great read — and just like The Daily, it’s free to subscribe!

Trumps add $1.4 billion in crypto-related assets to family fortune since inauguration

The Trump family added roughly $1.4 billion in crypto-related wealth in the year since President Donald Trump returned to office, Bloomberg reported.

• Crypto now accounts for about one-fifth of the family’s total estimated $6.8 billion net worth, according to the report.
• Despite those gains, the family’s overall wealth stayed largely flat for the period as Trump Media’s declining valuation erased much of the crypto-linked upside.
• World Liberty Financial and the president’s Official Trump memecoin represent the two highest-profile projects, generating more than $1 billion in realized proceeds for the family.
• The Trumps still hold roughly $3.8 billion worth of WLFI founder tokens on paper, though these were excluded from Bloomberg’s calculation as they remain locked for the time being.
• World Liberty Financial continues to push deeper into DeFi, while drawing scrutiny over potential conflicts of interest tied to the presidency.
• Meanwhile, Trump Media set a Feb. 2 record date to determine shareholder eligibility for its upcoming rewards token distribution.

Strategy makes biggest bitcoin buy in over a year as holdings top 700,000 BTC

Strategy bought another 22,305 BTC for $2.1 billion, marking its largest weekly bitcoin purchase in more than a year and lifting its total holdings above 700,000 BTC.

• The company now holds 709,715 BTC worth roughly $64 billion, representing more than 3.3% of bitcoin’s fixed 21 million supply.
• Strategy funded the purchases through its ongoing equity and perpetual preferred stock issuance programs, including MSTR, STRK, and STRC.
• The aggressive accumulation comes despite Strategy’s shares trading below the value of its bitcoin holdings, with its market cap-to-net asset value ratio near 0.81.
• Meanwhile, Tom Lee’s BitMine passed 4.2 million ETH following its latest 35,268 ETH purchase, with the Ethereum treasury company’s staked assets climbing above 40% of its total holdings.

Coinbase CEO Brian Armstrong to discuss market structure bill with banks in Davos

Coinbase CEO Brian Armstrong said he will continue discussions on a U.S. crypto market structure bill during the World Economic Forum in Davos, Switzerland.

• Armstrong plans to meet with bank executives to resolve remaining disagreements and push for a level playing field between crypto firms and traditional banks.
• Coinbase pulled support for the bill last week after the latest Senate draft proposed banning paying interest yield on idle stablecoin balances.
• The dispute has delayed Senate action on the legislation, with the banking sector voicing strong opposition against allowing crypto companies to pay such returns, arguing it could drive deposits away from traditional savings accounts and create financial instability.

Treasury Secretary Scott Bessent reaffirms Trump’s push for US strategic bitcoin reserve

Also at Davos, Treasury Secretary Scott Bessent reaffirmed the Trump administration’s commitment to maintaining and expanding the U.S. strategic bitcoin reserve using seized assets.

• He confirmed that the government has stopped selling forfeited bitcoin and said it plans to add future seizures to the reserve.
• Bessent also reiterated that the administration wants the U.S. to become the world’s leading regulatory hub for digital assets.
• His comments come as Washington works to advance broader crypto legislation, even as market structure talks stall over the stablecoin reward disputes.

OG bitcoin whale wakes up to move $85 million in BTC after 13 years

An OG bitcoin whale moved roughly $85 million worth of BTC late Monday after 13 years of dormancy, according to onchain data.

• The wallet accumulated its holdings between December 2012 and April 2013, when bitcoin traded between roughly $13 and $250.
• The transfer follows a broader pattern of Satoshi-era wallets reactivating during major market cycles, widely interpreted as long-term holders seeking to realize gains.

In the next 24 hours

• UK CPI inflation numbers are due at 7 a.m. ET on Wednesday. U.S. mortgage data follow at 12 p.m.
• U.S. President Trump is scheduled to speak at 1:30 p.m.
• Web3 Hub Davos 2026 continues.

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