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According to Jinse Finance, monitoring by @ai_9684xtpa shows that after PALU was launched on Alpha, its price surged 20 times, with 12 addresses collectively investing $2.981 million to chase the rally, driving the price up rapidly. Meanwhile, the market value of a certain trader dropped from the previous $80 million to $53 million.

Jinse Finance reported that pro-cryptocurrency U.S. Senator Cynthia Lummis has confirmed that, despite legislative red tape hindering the funding of the U.S. Strategic Bitcoin Reserve (SBR), it can now “begin at any time.” In a post on X on Monday, Lummis stated that although legislative progress remains “difficult,” thanks to “President Trump, funding for the SBR can begin at any time.” It is still unclear how the SBR will be specifically financed. According to the government’s official fact sheet, the reserve will initially be “capitalized with bitcoin held by the Treasury,” which are bitcoins seized through civil or criminal proceedings. It then notes that additional BTC can be obtained through budget-neutral means that “will not impose incremental costs on U.S. taxpayers.”