Weekly Article Recap: 2/03-2/07

The Stories that You Can’t Afford to Miss This Week

As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed 

about the latest developments and trends. Our weekly recap provides a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.

Donald Trump-Backed World Liberty Financial Plans to Create "Strategic Reserve" 

World Liberty Financial (WLF), a DeFi project backed by Donald Trump and his family, plans to establish a "strategic reserve" of purchased tokens, co-founder Chase Herro confirmed to Bloomberg. While details remain undisclosed, the move aligns with Trump’s past advocacy for a national crypto stockpile. WLF’s reserve is expected to include Bitcoin, Ethereum, and other digital assets.

Find more information here.

India to Impose 70% Penalty on Undeclared Crypto Gains: Details

On Feb. 1, 2025, India enforced a 70% penalty on undeclared cryptocurrency profits, with a 48-month lookback period. The move, part of the Union Budget 2025, amends Section 158B of the Income Tax Act. Crypto assets are now classified as Virtual Digital Assets (VDAs), subject to the same tax rules as cash and gold. The amendment mandates exchanges and financial institutions to report all crypto transactions, tightening regulatory oversight.

Find details in the article. 

FDIC Plans to Ease Crypto Restrictions for Banks: Details

The FDIC is revising its guidelines to allow U.S. banks to engage with crypto businesses without prior approval. Acting Chairman Travis Hill admitted past policies discouraged such partnerships. The agency released 175 documents detailing its past stance, following legal pressure from Coinbase. This shift comes amid congressional scrutiny of debanking practices affecting crypto firms.

Read the full story. 

Telegram Meets AI Agents: TheOpenLayer Partners with NPC Team

TheOpenLayer (TOL) and NPC Team have announced a strategic partnership to enhance AI agent functionality, particularly on Telegram. The collaboration merges TOL’s TON infrastructure expertise with NPC Team’s no-code DeFAI development, aiming to revolutionize AI agent deployment across platforms.

Learn more in the article. 

BlackRock Sets Sights on European Crypto Market with Swiss Bitcoin ETP Launch

BlackRock, the world's largest asset manager, plans to launch a Bitcoin exchange-traded product (ETP) in Switzerland, Bloomberg reports. The move follows the success of its U.S. crypto products and leverages Switzerland's crypto-friendly regulations. Despite Switzerland being outside the EU, BlackRock's ETP must comply with the EU’s Markets in Crypto-Assets Regulation (MiCA), which took effect in late 2023.

Details here.