Why Elon Musk wants to put government spending on a public blockchain

01/27/25 • 7 min

It was a placid weekend for Bitcoin and most of crypto until yesterday afternoon, when there was a sudden spike in volatility caused by the viral Chinese AI app DeepSeek. This impacted stock futures and, in a growing correlation, BTC, which fell 5% in 24 hours to below $100,000. Nevertheless, most prominent traders aren’t concerned. Then, outside of Bitcoin, one debate stole the conversation this weekend: a report that Elon Musk is looking at utilizing blockchain technology to track and reduce government spending in the US. Could this move for transparency and accountability be a step forward? Alongside this discussion was a conversation around Coinbase’s token listing practices, with the exchange’s CEO pointing out that over 1 million new tokens are created every week. However, Tron’s Justin Sun believes the problems run deeper at Coinbase.
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Previous Episode

Massive wins for crypto lost in disappointment of no US Bitcoin reserve announcement

Yesterday saw volatility in Bitcoin that can be traced to peaks and troughs of hope and disappointment. So, in today’s episode, we’ll go through the announcements and executive orders from US agencies and President Donald Trump and why these ultimately disappointed crypto folks, even if they were overwhelmingly positive. Then we’ll look at the harrowing kidnapping of the Ledger co-founder in France and how the deceased cybersecurity developer John McAfee has been resurrected as an AI agent with a Web3 project.
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Next Episode

Arizona Senate approves state Bitcoin reserve bill amid BTC price slip

It was a bumpy start to the week for Bitcoin as the world’s largest cryptocurrency dropped 7% to briefly trade below $98,000 on Jan. 27 — its lowest level in 10 days. The sudden correction followed shockwaves from the viral Chinese AI platform DeepSeek, whose launch sent ripples through both crypto and tech markets. Despite the dip, analysts remain optimistic, citing a lack of panic selling as a sign of confidence among long-term holders. Meanwhile, MicroStrategy announced a bold new $2.5 million share offering to fund additional Bitcoin purchases, doubling down on its bullish strategy.
Elsewhere, Arizona made headlines by advancing legislation to create a state-backed Bitcoin reserve, while the US CFTC scheduled public roundtables to discuss crypto regulation.
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