IMF Blocks El Salvador Bitcoin Purchase 🛑
Welcome to Wednesday's roundup! JD Vance made history as the first US Vice President to speak at a crypto conference during Bitcoin 2025. Despite his noteworthy attendance, BTC prices remain stable. In today's spotlight, the International Monetary Fund (IMF) is set to ensure El Salvador refrains from increasing its bitcoin holdings concordant with their loan stipulations. In a bold move, GameStop announced they have acquired 4,710 bitcoins as part of their strategic corporate treasury policy. Despite maintaining a strong acquisition momentum, Strategy's bitcoin purchasing has slowed compared to previous highs, showing signs of a cooling market premium amidst growing competition. Also, in funding news, Conduit successfully raised $36 million in a Series A round led by Dragonfly and Altos Ventures to further develop its blockchain-based cross-border payments. Meanwhile, David Sacks, President Trump's crypto advisor, discussed ways the U.S. could bolster its Strategic Bitcoin Reserve without incurring additional financial burdens. Stay ahead with The Block’s daily digest for all essential updates in the crypto world. Note: Article created with OpenAI's ChatGPT and curated by The Block’s editorial team.
FAQ
❓ Why is the IMF restricting El Salvador's Bitcoin purchases?
The IMF aims to control El Salvador's Bitcoin acquisitions as part of loan agreements to manage financial stability.
❓ How much bitcoin did GameStop acquire?
GameStop purchased 4,710 bitcoins to enhance its corporate treasury under a new policy.
❓ What is Conduit?
Conduit is a blockchain-powered cross-border payment startup that recently raised $36 million to enhance its platform.