Where is the gold?

Musk calls for audit of Fort Knox gold reserves

Elon Musk, through his new government organization, the Department of Government Efficiency (DOGE), has called for an audit of the gold reserves in Fort Knox to verify whether the U.S. gold supply is actually there. With this demand, he advocates for greater government transparency, a topic he has raised before. Previously, Musk suggested that blockchain technology could help make financial data more transparent and accountable.

The debate over transparency has also intensified calls to add Bitcoin as a strategic reserve asset. The U.S. government is already exploring the possibility of including Bitcoin in its national reserves, and Musk’s statement adds weight to the discussion. Bitcoin provides direct verification without the need for audits, something impossible with physical gold. As a result, the question of whether digital gold is the future of monetary reserves is becoming increasingly relevant.

Argentine president caught in memecoin scandal

Argentine President Javier Milei is under fire after endorsing LIBRA, a memecoin on Solana that collapsed within days. The token was marketed as a support initiative for small businesses but turned out to be a classic scam. Following Milei’s public endorsement, the price surged before the founders dumped their tokens, causing $99 million in crypto to disappear. This has led to widespread criticism and even calls for his removal from office.

Notably, one of the key figures behind this scam, Hayden Mark Davis, was previously involved with MELANIA, the memecoin linked to the Trump family. These events have left many crypto investors frustrated with memecoins, shifting sentiment from hype to skepticism. With memecoins being a major sector on Solana, reduced speculation has led to a slight correction in SOL’s price.

ECB moves toward CBDC with blockchain payment system

The European Central Bank (ECB) has announced plans to develop a blockchain-based payment system aimed at making financial transactions between institutions more efficient and secure. This follows recent discussions about accelerating the development of a digital euro (CBDC). While this payment system itself is not yet a CBDC, it could be the final technical step before the ECB introduces a fully digital euro. This announcement confirms that the ECB is now actively working on the infrastructure needed for a digital euro.