White House Hosts Crypto Summit

CRYPTO
White House Hosts Crypto Summit

Bitcoin and the broader crypto market surged Wednesday following reports that the Trump administration will unveil its crypto reserve strategy later this week.

U.S. Commerce Secretary Howard Lutnick told The Pavlovic Today that President Trump will provide more details on Friday during a White House crypto summit. “A Bitcoin strategic reserve is something the president’s interested in,” Lutnick said. “You’re going to see it executed on Friday.”

The market, which had struggled in recent weeks, jumped on the news. Bitcoin gained 6% in 24 hours, while XRP, Solana, and Cardano—cryptos reportedly under consideration for the reserve—also rose.

Trump previously confirmed the reserve would include Bitcoin, Ethereum, Solana, XRP, and Cardano, sparking backlash from Bitcoin maximalists. Lutnick hinted that Bitcoin may have a special status within the reserve.

Friday’s summit will feature top crypto leaders, including Coinbase CEO Brian Armstrong and Michael Saylor. Experts say a formal reserve plan could legitimize crypto as a national asset.
BTC.X ( ▼ 1.48% ) 

FINANCE
Trump Backs BlackRock’s Panama Deal

Donald Trump vowed on Day 1 to reclaim the Panama Canal, declaring, “We’re taking it back.” Instead of military action, Wall Street billionaire Larry Fink proposed a deal: BlackRock would acquire the ports on either side of the canal, securing American control.

After days of negotiations, BlackRock, alongside Global Infrastructure Partners and Terminal Investment Ltd., struck a $19 billion deal to purchase over 40 ports, including Panama’s. The acquisition aligns with Trump’s America First vision and BlackRock’s global expansion strategy.

Trump, who has claimed China controls the canal, praised the deal without mentioning BlackRock. The move reduces Chinese influence and strengthens U.S. control over key trade routes.

Fink, who has longstanding ties to Trump’s circles, played a pivotal role, briefing the president as talks progressed. Panama’s government will review the transaction, but BlackRock insists the deal is purely commercial, despite its geopolitical implications.

FINANCE
Microsoft’s OpenAI Deal Faces No Probe

The U.K.’s Competition and Markets Authority (CMA) has decided not to launch a formal investigation into Microsoft’s partnership with OpenAI, clearing a key regulatory hurdle for the tech giant.

The CMA reviewed Microsoft’s multibillion-dollar investment in OpenAI to assess whether it constituted a de facto merger that could stifle competition. Officials concluded that Microsoft has influence but not control over OpenAI, making a formal probe unnecessary.

Joel Bamford, the CMA’s executive director of mergers, stated that Microsoft’s partnership does not qualify for merger review under U.K. law. Both Microsoft and OpenAI welcomed the decision, emphasizing competition and innovation in AI development.

The ruling follows similar scrutiny from the European Union, which also found Microsoft had not gained lasting control over OpenAI. However, the U.S. Federal Trade Commission continues to investigate major AI partnerships.

Microsoft has invested over $13 billion in OpenAI since 2019, as AI investments face increasing regulatory oversight worldwide.

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