Block 1: Essential news
POTUS launched his own memecoin
Donald Trump and his wife, Melania, launched their own memecoins, under the tickers TRUMP and MELANIA, last weekend. Within hours, TRUMP's capitalization reached $15 billion, making him one of the most highly valued assets on the market. The official website, gettrumpmemes.com, perfectly reflects the Trump spirit: kitschy, exuberant, crammed with flashy slogans and sparse disclaimers. On the technical side, an alarming 80% of TRUMP's total offering is controlled by the team. Only 10% of tokens are in circulation, with a further 10% reserved for liquidity. In other words, TRUMP's fate rests entirely in their hands, and that's cause for concern.
Bitcoin hits a new record
BTC broke the $109,000 barrier this week. The previous news, namely the launch of the Trump family's memecoins, inevitably contributed to this surge. Furthermore, ahead of the new president's inauguration on Monday, many anticipated the mention of the crypto industry during the speech, which could have pushed the crypto-asset even higher. But the mention of "crypto" or "bitcoin" didn't happen after all. As a result, the market leader retreated to the $100,000 level in the hours that followed. Crypto-investors are now waiting to see how Trump will honor his promise to make the USA "the bitcoin capital of the world", as he spoke of during his presidential campaign.

MarketScreener
MicroStrategy accumulates bitcoins (again)
MicroStrategy has acquired 11,000 BTC for $1.1 billion at an average price of $101,191 per bitcoin, further consolidating its position as the leading BTC-holding company. This new purchase, financed by the sale of 3 million shares under its "21/21 Plan", brings its total reserves to 461,000 BTC, or 2.13% of the total offering, at an average cost of $63,610 per BTC. Michael Saylor thus remains true to his vision of Bitcoin as a strategic store of value for his company. The arrival of the crypto-friendly Donald Trump could also encourage other companies to follow this strategy.
Circle continues to expand
Circle has announced the acquisition of Hashnote, issuer of the world's largest tokenized money fund, USYC, valued at $1.24 billion. This acquisition is accompanied by a partnership with DRW and its subsidiary Cumberland, to strengthen institutional adoption of USDC and USYC via crypto and traditional markets. Circle also plans to launch USDC on the Canton blockchain, already used by USYC, to promote the tokenization of real-world assets. According to CEO Jeremy Allaire, this acquisition is a "major breakthrough" to integrate tokenized liquidity as collateral for USDC, which has a capitalization of $51 billion.
Block 2: Crypto Analysis of the Week
Inside the crypto wallets of Trump's future ministers
When Donald Trump holds his first cabinet meeting as president, he will be surrounded by hand-picked officials to lead the executive branch of government. And among them, many crypto enthusiasts.
Under the nomination process, potential Trump cabinet members are required to submit financial disclosures. These documents reveal that several of them, including some of the most influential, hold significant crypto portfolios.
Sean Duffy: Bitcoin champion (and more)
Trump has nominated Sean Duffy to be Secretary of the Department of Transportation. A former Wisconsin representative in the House of Representatives, Duffy is the largest Bitcoin holder among cabinet members. But his portfolio is not limited to this flagship asset.
Bitcoin (personal portfolio): between $500,000 and $1 million Fidelity Spot Bitcoin ETF: between $50,000 and $100,000 Solana, Litecoin and Lido Staked Ether: included in a diversified crypto portfolio, valued between $570,000 and $1.2 million.
A former consultant for Robinhood, Duffy represents a pro-Bitcoin and pro-crypto vision, which could influence the development of favorable infrastructure and regulations.

US Office of Government Ethics
Scott Bessent: Bitcoin and the US Treasury
To head the Treasury, Trump has chosen Scott Bessent, founder of hedge fund Key Square Group. Bessent is an avid Bitcoin supporter, with holdings in the BlackRock Spot Bitcoin ETF valued at between $250,000 and $500,000.
According to his ethics agreement, Bessent plans to divest his Bitcoin holdings after his appointment, but his appointment underlines a crypto orientation at the heart of one of the key departments of US financial regulation.
John Ratcliffe: a bridge between intelligence and crypto
Despite not owning any significant crypto assets, John Ratcliffe, appointed to head the Central Intelligence Agency (CIA), is no stranger to the world of digital assets. A former Director of National Intelligence, he served from 2023 on the advisory board of Paradigm, a major crypto venture capital fund, for a total of $160,000 in fees as an advisor. He will step down from this role following his appointment.
Tulsi Gabbard: a crypto omnivore
Former Democratic representative from Hawaii, Tulsi Gabbard, now a Republican, has been chosen as Director of National Intelligence. Among Trump cabinet members, she boasts one of the most varied portfolios:
Bitcoin (Crypto.com wallet): between $15,000 and $50,000 Bitwise Spot Bitcoin ETF: between $15,000 and $50,000 Solana, Cronos and Ether: a total portfolio estimated at between $31,000 and $115,000.
Like other members, Gabbard plans to dispose of his holdings after his appointment, in accordance with his ethics agreement.
What about Donald Trump?
According to data from Arkham Intelligence, which is an advanced on-chain analytics platform specializing in tracking blockchain transactions and attributing wallets to identifiable entities, the President of the United States owns a large number of cryptos. On the other hand, it would appear that he does not own any bitcoin despite his desire to create a national strategic reserve in BTC. Even so, his portfolio is estimated at over $9 million.

A firm resolutely focused on crypto
Between diversified portfolios, significant investments in bitcoin and direct experience in companies such as Robinhood and Paradigm, Trump's firm reflects a significant opening towards digital assets. These appointments could have a major impact on US crypto policy going forward, with key decisions to come regarding regulation, infrastructure, and the role of digital assets in the national economy.
Block 3: Tops & Flops
Crypto chart(Click to enlarge)

Block 4: This week's readings
The economics of Trump's "cash grab" meme (Wired)
Trump frees Silk Road creator Ross Ulbricht after 11 years in prison (Wired)
The unholy chorus of crypto (Project Syndicate)
Why your retirement fund could soon include cryptocurrency (The Conversation)