Tether has purchased 8,888 BTC for approximately $735 million, increasing its total bitcoin holdings to 92,646 BTC, valued at over $7.8 billion. Several altcoins, including ACT, DEXE, and DF, experienced significant crashes on Binance, dropping between 20% and 50%. The Bitcoin Policy Institute has proposed 'BitBonds' to support President Trump's budget-neutral Strategic Bitcoin Reserve plans. Additionally, Taiwan is considering a special crypto act that may impact smaller players, and Kentucky has dropped its lawsuit against Coinbase following the passage of a 'Bitcoin Rights' bill. Chun Wang, co-founder of F2Pool, has become the first known bitcoiner to travel to space on SpaceX's Fram2 mission.

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The following article is adapted from The Block’s newsletter,The Daily, which comes out on weekday afternoons.Happy Tuesday! An air of uneasy anticipation hangs over the crypto market as traders adopt a "wait-and-see" approach ahead of President Trump's "Liberation Day" tariff announcements tomorrow.In today's newsletter, Tether buys another 8,888 BTC, multiple altcoins suddenly crash on Binance, "BitBonds" get pitched as a solution to Trump's budget-neutral bitcoin reserve strategy and more.Meanwhile, Taiwan mulls a special crypto act that experts say may squeeze out small players, Timmy Shen reports.Let's get started.Stablecoin issuer Tether bought 8,888 BTC in Q1 for approximately $735 million, bringing its total bitcoin holdings to 92,646 BTC, worth more than $7.8 billion.Several altcoins, including the Solana-based memecoin Act 1 The Prophecy (ACT), DeFi social trading platform DeXe (DEXE) and onchain liquidity network dForce (DF), crashed between 20% and 50% on Binance on Tuesday, despite a broader market uptick.The Bitcoin Policy Institute proposed bitcoin-enhanced U.S. Treasury Bonds, or "BitBonds," as a solution to help implement President Trump's budget-neutral Strategic Bitcoin Reserve plans.Kentucky dropped its lawsuit against Coinbase just days after passing a "Bitcoin Rights" bill, which includes mining and staking exemptions from securities legislation.Chun Wang, co-founder of the Bitcoin mining pool F2Pool, became the first known bitcoiner to launch into Earth's orbit aboard SpaceX's Fram2 mission late Monday.Never miss a beat with The Block'sdaily digestof the most influential events happening across the digital assetecosystem.

Tether Acquires 8,888 BTC; Altcoins Crash on Binance; 'BitBonds' Proposed