Trump creates US strategic crypto reserve with seized bitcoin: Live Updates
March 7, 2025
President Donald Trump has signed an executive order establishing a strategic cryptocurrency reserve using bitcoin already seized by the government. The move, announced ahead of a White House meeting with crypto executives on Friday, disappointed investors hoping for new federal purchases of digital assets. Following the news, bitcoin initially dropped 5% before recovering in early trading.
What to Know:
- The U.S. will hold seized bitcoin in a Strategic Bitcoin Reserve, treating it as a formal asset.
- The reserve will not involve new government purchases at this time.
- A separate U.S. Digital Asset Stockpile will include other seized cryptocurrencies.
- Crypto backers argue the move could boost taxpayer benefits, while critics call it symbolic.
- Trump’s stance on crypto has drawn both industry support and ethical concerns.
Stay with Newsweek as we follow updates from the White House.
09:43 AM EST
Donald Trump issued impeachment warning
Ingraham: If these midterms don’t go the right way, Democrats are already planning to impeach President Trump. That is the truth. Investigations are going to start and they’re going to be going to town on the Republican Party pic.twitter.com/89dnIBBatZ
— Acyn (@Acyn)
Fox News host Laura Ingraham has warned that Democrats “are already planning to impeach President Trump” if they triumph at the November 2026 midterm elections.
The conservative presenter made the comment on her The Ingraham Angle show on Thursday, during a discussion with Texas Republican Representative Brandon Gill.
Newsweek contacted the Democratic Party for comment on Friday outside of regular office hours via its online inquiry form.
During his first term in office, President Trump was impeached twice, once over claims he abused his power to pressure the Ukrainian government to investigate his domestic political opponents and the other following the January 6, 2021, Capitol Hill riot. In both cases the Senate failed to meet the two-thirds threshold for a guilty verdict, so he remained in office.
Ahead of the 2024 presidential election both Democratic candidate Kamala Harris and Trump suggested their rival was a threat to American democracy. A third impeachment bid against Trump would dramatically raise political tensions in the U.S. with his supporters likely viewing it as an act of persecution.
Referring to the November 2026 elections on her show, Ingraham said that if “these midterms don’t go the right way … the Democrats are already planning to impeach President Trump. That is the truth.
“Investigations are going to start and they’re going to go to town on y’all, on the Republican Party.”
Ingraham: If these midterms don’t go the right way,
Read the full story by James Bickerton on Newsweek.
09:42 AM EST
Donald Trump issued impeachment warning
Fox News host Laura Ingraham has warned that Democrats “are already planning to impeach President Trump” if they triumph at the November 2026 midterm elections.
The conservative presenter made the comment on her The Ingraham Angle show on Thursday, during a discussion with Texas Republican Representative Brandon Gill.
During his first term in office, President Trump was impeached twice, once over claims he abused his power to pressure the Ukrainian government to investigate his domestic political opponents and the other following the January 6, 2021, Capitol Hill riot. In both cases the Senate failed to meet the two-thirds threshold for a guilty verdict, so he remained in office.
Ahead of the 2024 presidential election both Democratic candidate Kamala Harris and Trump suggested their rival was a threat to American democracy. A third impeachment bid against Trump would dramatically raise political tensions in the U.S. with his supporters likely viewing it as an act of persecution.
Referring to the November 2026 elections on her show, Ingraham said that if “these midterms don’t go the right way … the Democrats are already planning to impeach President Trump. That is the truth.
Read in full from James Bickerton on Newsweek.
Ingraham: If these midterms don’t go the right way, Democrats are already planning to impeach President Trump. That is the truth. Investigations are going to start and they’re going to be going to town on the Republican Party pic.twitter.com/89dnIBBatZ
— Acyn (@Acyn)
09:33 AM EST
Trump considers banking sanctions and tariffs on Russia
In a post on Truth Social this morning, Trump expressed strong consideration for imposing large-scale banking sanctions, sanctions, and tariffs on Russia.
09:29 AM EST
Laid-off federal workers face unexpected backlash from family members
As laid-off federal workers scramble to replace their health insurance and find new jobs, some are encountering an unexpected challenge: family members expressing approval of their firing. The country’s polarized politics are spilling into personal relationships, with some relatives cheering what they see as necessary government cost-cutting.
Luke Tobin, a 24-year-old former technician with the U.S. Forest Service in Idaho, shared his frustration with The Associated Press, saying, “I’ve been treated as a public enemy by the government and now it’s bleeding into my own family.” As government layoffs increase, workers expecting sympathy are instead finding themselves at odds with family and friends who view the cuts as a reflection of a bloated and wasteful government.
09:11 AM EST
United installs Starlink on first regional aircraft to improve in-flight Wi-Fi
A file photo of a United Airlines flight landed at the airport.
A file photo of a United Airlines flight landed at the airport.
Sky_Blue/Getty Images
United Airlines has installed Starlink on its first regional aircraft and announced plans to outfit over 40 regional planes monthly through 2025. This installation promises faster Wi-Fi and more streamlined operations. The process, which takes just eight hours on average, is significantly faster than traditional installs, which can take over 10 days, according to the press release.
The new system includes equipment weighing just 85 pounds, compared to up to 300 pounds for other inflight providers, reducing fuel consumption and maintenance needs. The improved system also ensures more reliable Wi-Fi, with speeds up to 250 Mbps, 50 times faster than current regional aircraft speeds.
Starlink access will be free for MileagePlus members and offer enhanced inflight entertainment options. United expects to have more than 300 regional aircraft equipped with Starlink by the end of 2025.
Starlink is a satellite internet service provided by Elon Musk’s SpaceX.
08:54 AM EST
Cryptocurrency prices drop after Trump’s executive order on national stockpile
Cryptocurrency prices saw a decline following Trump’s recent executive order to create a national stockpile of Bitcoin and other digital currencies, The New York Times reported.
The move, while signaling government involvement in the crypto market, left some investors disappointed, as they had hoped for a more aggressive commitment from the government to become a significant buyer of cryptocurrencies.
08:43 AM EST
Trump may soon take steps to eliminate the Department of Education
Trump is reportedly considering the first steps to dismantle the Department of Education, aiming to significantly reduce the size of the federal government. White House officials are said to have prepared an executive order instructing Education Secretary Linda McMahon to begin the process. Trump has long expressed his desire to close the department, but full elimination would require Congressional approval, McMahon acknowledged during her confirmation hearings.
Lawmakers from both parties have voiced concerns about the potential consequences of such a move. Independent Sen. Bernie Sanders called the decision a “disaster” for working-class families and children with disabilities, citing the critical programs provided by the department.
Republican Sen. Susan Collins also expressed opposition, stressing the importance of education programs for vulnerable communities, and questioned Trump’s authority to eliminate the department without Congressional action. Meanwhile, GOP Sen. Thom Tillis supported the idea of returning educational power to state and local governments but urged caution in the process.
08:29 AM EST
Musk advocates for privatizing government-run entities like USPS and Amtrak
Leader of the Department of Government Efficiency Elon Musk wears a shirt that says “Tech Support” as he speaks during the first cabinet meeting of US President Donald Trump’s second term in the Cabinet Room…
Leader of the Department of Government Efficiency Elon Musk wears a shirt that says “Tech Support” as he speaks during the first cabinet meeting of US President Donald Trump’s second term in the Cabinet Room at the White House in Washington, DC, on February 26, 2025.
Jim Watson/Getty Images
Billionaire and Trump adviser Elon Musk is calling for the privatization of government-run services, including the U.S. Postal Service and Amtrak. Speaking at the Morgan Stanley Technology Media & Telecom conference this week, Musk argued that businesses must face the possibility of bankruptcy to improve, saying, “something’s got to have some chance of going bankrupt, or there’s not a good feedback loop for improvement.”
He stressed his recommendation to privatize as many entities as possible. Musk also criticized Amtrak, claiming it offers a subpar experience compared to rail services in other countries.
08:18 AM EST
Texas detention center reopens as Trump administration resumes migrant family detentions
The South Texas Family Residential Center in Dilley, Texas, is reopening as part of a new agreement between CoreCivic and U.S. Immigration and Customs Enforcement (ICE). The facility, which can hold up to 2,400 people, was initially built in 2014 to accommodate migrant families. It was idled in 2024 after ICE’s contract funding ended, but under the new arrangement, it will once again be operational until 2030.
The decision to restart migrant family and child detentions has sparked concerns among advocates, who fear it could lead to a troubling chapter in the U.S.’s treatment of immigrants. Critics worry the facility’s reopening signals a return to harsh immigration practices.
08:06 AM EST
Letitia James hits Trump with lawsuit over federal cuts: ‘Illegally fired’
U.S. President Donald Trump in the Roosevelt Room of the White House on March 3, 2025 in Washington, DC.
U.S. President Donald Trump in the Roosevelt Room of the White House on March 3, 2025 in Washington, DC.
Andrew Harnik/Getty Images
New York Attorney General Letitia James has joined a lawsuit to stop the Trump administration from firing thousands of probationary federal workers.
Newsweek sought email comment on Friday from the Trump administration’s Office of Personnel Management, the Department of Government Efficiency and New York Attorney General Letitia James.
The lawsuit pits the Trump administration against 19 states and Washington, D.C. and affects the lives of thousands of federal workers.
It also comes to the heart of whether President Donald Trump has the legal right to make massive cuts to the federal budget.
07:53 AM EST
Trump administration funding freeze jeopardizes Gaza aid and fragile ceasefire
The Trump administration’s decision to freeze hundreds of millions in USAID funding has forced aid groups in Gaza to pay out of pocket to maintain relief operations, officials said. The funding halt threatens the fragile ceasefire, which relied on U.S. commitments to provide humanitarian assistance.
USAID had approved $383 million for aid efforts on Jan. 31, but no payments have been made since, despite aid organizations already spending millions on supplies and services. Some groups have begun laying off workers and cutting programs, including the International Medical Corps, which has reduced hospital operations and medical aid.
Officials warn that the funding freeze could destabilize the ceasefire, under which Hamas agreed to release hostages in exchange for humanitarian aid and prisoner releases. The move is part of broader Trump administration efforts to cut government spending, leaving USAID in turmoil and reducing U.S. influence in Gaza.
07:40 AM EST
Officials warn avalanche forecasts could suffer from NOAA job cuts
A view of the logo National Oceanic and Atmospheric Administration (NOAA) at NASA Kennedy Space Center in Cape Canaveral, Florida, on June 25, 2024.
A view of the logo National Oceanic and Atmospheric Administration (NOAA) at NASA Kennedy Space Center in Cape Canaveral, Florida, on June 25, 2024.
Miguel J. Rodriguez Carrillo/Getty Images
Officials in the Western U.S. are raising concerns that mass firings at the National Oceanic and Atmospheric Administration (NOAA) under the Trump administration could weaken avalanche forecasting. These forecasts are crucial for skiers, climbers, and drivers who rely on accurate warnings to avoid dangerous conditions.
The warnings come as rescue teams continue recovering three victims from an avalanche near Anchorage, Alaska, after forecasters had already warned of high slide risks. In Colorado, transportation officials use avalanche forecasts to assess road safety, including a highway where a slide recently pushed a vehicle off the road.
Avalanche forecasting depends heavily on NOAA’s data and meteorological analysis, which helps predict slide severity and location. “To take funding and randomly cut programs will affect our ability to save lives,” said Doug Chabot, former director of Montana’s Gallatin National Forest Avalanche Center.
The Trump administration has not disclosed specific NOAA job cuts, but officials worry the reductions could weaken weather models used by 14 avalanche centers nationwide. Former NOAA leaders warn the firings could also impact tornado, hurricane, and aviation safety.
So far this winter, 18 people have died in U.S. avalanches. Experts say weaker data from NOAA could lead to less accurate forecasts, making backcountry travel even more dangerous.
07:27 AM EST
Russia strikes Ukraine’s energy infrastructure in overnight attack
Russia launched a large-scale missile and drone attack on Ukraine’s energy infrastructure overnight, Ukrainian officials said Friday. The assault injured at least 10 people, including a child, and targeted critical gas production and power facilities.
Energy Minister Herman Halushchenko condemned the strikes, accusing Russia of attempting to leave Ukraine without light and heat. The bombardment was Russia’s sixth attack on Ukraine’s largest private gas producer in less than three weeks.
Ukraine’s air force said Russia fired 67 missiles and 194 drones, with Ukrainian defenses intercepting 34 missiles and 100 drones. For the first time, Ukraine deployed French Mirage-2000 warplanes to counter the assault.
Meanwhile, Ukrainian President Volodymyr Zelenskyy said talks with U.S. officials on ending the war will take place next week, as concerns grow over future American military aid.
07:15 AM EST
Trump’s Bitcoin executive order explained—How strategic reserve will work
U.S. President Donald Trump speaks as he signs executive orders in the Oval Office of the White House on March 06, 2025 in Washington, DC.
U.S. President Donald Trump speaks as he signs executive orders in the Oval Office of the White House on March 06, 2025 in Washington, DC.
Alex Wong/GETTY
Trump had previously ordered his Working Group on Digital Asset Markets to examine the possibility of creating a national digital asset stockpile, and on Sunday said that he would be establishing a government-owned crypto reserve.
Like other commodity reserves, such as gold or petroleum, the currency will be held by the government as a financial safety net to hedge against future economic instability.
“The U.S. will not sell any bitcoin deposited into the reserve. It will be kept as a store of value,” said White House crypto czar David Sacks on X, formerly Twitter, following Thursday’s announcement. “The Reserve is like a digital Fort Knox for the cryptocurrency often called ‘digital gold.'”
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