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The strategic bitcoin reserve race “is on and it is real”: ProChain Capital’s David Tawil

Elon Musk’s government-cutting machine, the Department of Government Efficiency (D.O.G.E), is pushing the US economy into dangerous territory. Within the first two weeks of its existence, D.O.G.E announced it could slash 20% of the annual $1.8 trillion deficit. And that’s where the problem’s at. You see, when you do the math, you realize that Elon’s planned spending cuts could shrink US GDP by 9.4%, a drop worse than the 2008 recession, and that would be a massive disaster, one that will almost certainly push the economy into a depression. If Elon’s daily cuts reach $2 billion, inflation could decline, but GDP would collapse. Reducing federal spending by $1.8 trillion in one year would cut GDP by $2.8 trillion, or 9.4%. The Great Recession of 2008 only saw a 4% drop. Millions of jobs (both government and private) would vanish. Bankruptcies would surge and industries dependent on federal contracts would crumble. The worst-case scenario? A depression larger than anything since the 1930s. But the US has few options left. If the government keeps spending $2 trillion annually on borrowed money, inflation and debt will continue to spiral. Without that spending, the economy won’t function “normally.” How alarming is that? National debt increases by $12 trillion in five years From 2020 to 2023, US debt surged by $10 trillion, with total debt ballooning past $35 trillion. For perspective, the US took 221 years to rack up its first $12 trillion in debt. But thanks to years of reckless spending by the Biden administration via USAID, the same amount of money was added in just five years. The debt ceiling, suspended until late 2025, means the federal government can spend freely. And they have—adding over $12 trillion since 2020. Elon’s D.O.G.E is meant to reverse this. Treasury data shows that since the 2008 financial crisis, total US debt has soared by 360%. And as Elon sees it, unchecked deficit spending is dragging the US economy to the edge of collapse. One of the key issues is the flood of Treasury bonds being pumped into the market to fund federal spending. On day eight of D.O.G.E’s operations, Elon shared on X that $1 billion in daily savings had already been achieved. The Tesla CEO promised he could eventually get to $4 billion per day by 2026. By his estimates, that would reduce the projected $1.87 trillion deficit to just $410 billion—a 78% drop. Cutting down on office buildings, fraud, and blockchain proposals D.O.G.E is going after two of the government’s largest money pits: unused office space and fraudulent spending. Elon’s plan to cut up to two-thirds of federal office space comes at a critical time. Real estate prices for office buildings have already fallen more than 30% from their peak, and no major government agency currently uses more than 50% of its available space. With 511 million square feet of federal property, maintenance alone costs $76 billion per year. Factoring in other expenses, that’s over $100 billion annually—roughly 6% of the FY2024 deficit. But of course, a lot of people don’t agree with his method. Three weeks after D.O.G.E’s spending cuts began, Elon’s access to federal spending databases was blocked. Elon said, “When I asked if anyone at Treasury had a rough guess for what percentage of that number is unequivocal and obvious fraud, the consensus in the room was about half, so $50B/year or $1B/week!! This is utterly insane and must be addressed immediately.”

In 2024, crypto venture capital investment rebounded 28% YoY to $13.7 billion, signaling recovery but still below 2021-2022 highs. In 2025, product-market fit, real user adoption, and emerging tech will drive funding. ◢ Key sectors > Stablecoins: A dominant sector with growing global demand. > DeFi: Institutional adoption and regulatory clarity fueling growth. > Crypto AI & DePINs: Early-stage but high-potential innovations. > Layer 1 & Layer 2 Evolution: Solana gaining traction, Ethereum facing competition. Here’s how the top VC firms are positioning themselves for the 2025 🔽 + @YziLabs (formerly Binance Labs): Focused on user adoption, fundamentals, and sustainable business models. + @dragonfly_xyz: Betting on DeFi, CeFi, stablecoins; cautious on tokenization and social media. + @PanteraCapital: Focus on crypto AI, DePINs, new Layer 1s as regulatory clarity improves. + @hack_vc: Focus on crypto AI, DeFi, and infrastructure; sees stablecoins as transformative. + @cbventures: Prioritizing on-chain apps, stablecoin payments, and crypto AI. + @blockchaincap: Targeting stablecoin infrastructure, institutional DeFi, and token distribution. + @galaxyhq: Strong on stablecoins and tokenization, bearish on Metaverse projects. + @multicoincap: Bullish on Solana and stablecoins; skeptical of Ethereum’s long-term dominance. + @PortalVentures: Investing in hybrid infrastructure-app platforms, less on ZK and middleware. + @hashed_official: Expanding globally; investing in institutional DeFi, regulated stablecoins, crypto AI. ✍️ My Take 2025’s crypto VC landscape is more disciplined, adoption-focused, and strategically aligned. While funding may not hit previous highs, quality investments in stablecoins, DeFi, and AI-driven crypto solutions are setting the stage for long-term growth.

Tron founder Justin Sun has filed a lawsuit against American film producer and record executive David Geffen in a bid to reclaim an Alberto Giacometti sculpture or get up to $80 million in damages. Sun lodged the complaint in Manhattan federal court on Tuesday, alleging the bronze Le Nez sculpture, which he previously owned, had been stolen and sold to the entertainment mogul without his consent. Sun Claims Aide Stole His Sculpture The crypto entrepreneur claims that a former employee, Xiong Zihan Sydney, who had been his art advisor, masterminded the theft and subsequent sale of the artwork to Geffen. Le Nez, which has been authenticated by the Giacometti Committee, was conceived by the artist between 1947 and 1949 and cast in 1965. Sun bought the sculpture for $78.4 million at a November 2021 auction of real estate developer Harry Macklowe’s art collection. The 34-year-old says he intended to donate it to the Singapore-based ApeNFT Foundation, which focuses on blockchain-based fractional-ownership art investments. However, he never completed the transfer; instead, he allowed the sculpture to be exhibited virtually by the organization. He later lent it to the Giacometti Foundation for an exhibition in Paris, where it was shown through January 2024. According to the lawsuit, soon after the artwork returned from France to Sun’s storage facility in Singapore, Xiong hatched a plot to steal it and sell it to Geffen, using her position to misrepresent the ownership of the piece and forge his signature on sale documents. She allegedly introduced a fake Chinese lawyer named “Laura Chang” to validate the transaction, which involved swapping Le Nez for two pieces of art from the music magnate’s collection with a combined value of $55 million. The deal also included an extra $10.5 million in cash, bringing the total to $65.5 million. Sun admits that he had considered selling the suspended bronze figure, but he wanted to recoup the $78.4 million he paid for it. The Liberland Prime Minister says he asked Xiong to keep an eye out for anyone that would pay at least $80 million for the piece, but he never authorized her to execute a sale on his behalf. His legal team is arguing that Geffen should have identified red flags before concluding the deal, including the involvement of a lawyer conducting business using a personal Gmail account. They also claim that Xiong confessed to the fraud in May 2024, admitting to pocketing $500,000 from the deal. Geffen Refutes Claims However, Geffen’s lawyer, Tibor Nagy, has dismissed the allegations against his client as nothing more than “seller’s remorse,” calling the lawsuit “bizarre and baseless.” He stressed that the movie producer had no direct contact with Sun’s art advisor and that the transaction was conducted through intermediaries. This is not the first time that Sun, who is the biggest investor in the President Donald Trump-backed World Liberty Financial, is in the news over art-related matters. In November last year, he made waves after spending $6.2 million on Maurizio Cattelan’s Comedian, a banana duct-taped to the wall, and eating it soon after. The post Justin Sun Sues Music Mogul David Geffen Over $78M Sculpture Dispute appeared first on CryptoPotato.