David Sacks, appointed as the White House’s AI and Crypto Czar under President Trump, led a high-profile press conference on February 4, 2025, where he outlined significant advancements in U.S. cryptocurrency regulation.
Joined by key congressional leaders—including Senate Banking Committee Chair Tim Scott (R-SC), House Financial Services Committee Chair French Hill (R-AR), Senate Agriculture Committee Chair John Boozman (R-AR), and House Agriculture Committee Chair Glenn “GT” Thompson (R-PA)—Sacks emphasized the formation of a bicameral working group to fast-track two cornerstone bills: one for stablecoin oversight and another for broader crypto market structure.
This initiative signals a shift from the previous administration’s enforcement-heavy approach, which Sacks criticized as “four years of arbitrary prosecution and persecution of crypto companies,” toward a framework designed to foster innovation and keep digital asset development in the U.S.
Sacks described the effort as ushering in a “Golden Age” for digital assets, with clear rules to prevent crypto startups from fleeing overseas. Senator Scott committed to advancing both bills in the Senate within Trump’s first 100 days, while Rep. Hill noted strong bicameral support, building on last year’s bipartisan House passage of related legislation.
Register for Tekedia Mini-MBA edition 19 (Feb 9 – May 2, 2026): big discounts for early bird.
Tekedia AI in Business Masterclass opens registrations.
Join Tekedia Capital Syndicate and co-invest in great global startups.
Register for Tekedia AI Lab: From Technical Design to Deployment (next edition begins Jan 24 2026).
Stablecoin Focus: Sacks spotlighted stablecoins as a strategic priority, arguing they could “ensure American dollar dominance internationally” by digitizing U.S. dollar usage globally. He projected they might create “trillions of dollars of demand for U.S. Treasuries,” potentially lowering long-term interest rates.
On the same day, Sen. Bill Hagerty (R-TN) introduced the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, co-sponsored by Sens. Kirsten Gillibrand (D-NY), Tim Scott, and Cynthia Lummis (R-WY).
The bill proposes a “safe and pro-growth” framework, mandating stablecoins be backed by U.S. assets and regulated primarily by the Federal Reserve and Office of the Comptroller of the Currency (OCC), with exclusions for fraud cases.
Sacks and the lawmakers repeatedly referenced the Financial Innovation and Technology for the 21st Century Act (FIT21) as the blueprint. Passed by the House in May 2024 with a 279-136 vote (including 71 Democrats), FIT21 aims to delineate regulatory roles between the SEC (for securities-like assets) and CFTC (for commodities), while introducing categories like “digital commodities” for decentralized tokens and “permitted payment stablecoins.”
Rep. Hill indicated the new version would include “modest changes” to address prior flaws, such as decentralization notifications to the SEC, and integrate stablecoin provisions for comprehensive clarity. The working group will collaborate with the SEC’s new Crypto Task Force, led by Commissioner Hester Peirce, to refine this.
Sacks’ event aligns with Trump’s January 2025 executive order establishing a Presidential Working Group on Digital Assets, which includes Treasury Secretary Scott Bessent and aims to evaluate a potential “strategic national digital assets stockpile” (e.g., a Bitcoin reserve)—though he noted this is preliminary and separate from immediate legislative pushes.
Education for new lawmakers was also highlighted as a foundational step to “demystify crypto” and showcase blockchain’s potential.This progress reflects crypto’s growing political clout post-2024 elections, with industry stakeholders pushing for rules that enable institutional adoption without stifling growth.
As of November 2025, the bills are advancing through committees, with expectations of full congressional votes soon. For the latest developments, monitoring Capitol Hill updates is recommended.
Sacks’ advocacy underscores a pro-innovation stance, positioning the U.S. to lead in digital finance amid global competition.
MegaETH Token Sale Allocation Checker Release
MegaETH, the Ethereum Layer-2 blockchain focused on real-time performance backed by Vitalik Buterin and investors like Dragonfly Capital, recently concluded its oversubscribed public token sale for $MEGA tokens.
The sale raised $50 million but saw bids exceeding $300 million from over 11,500 wallets, leading to a 28x oversubscription. To handle this, the team implemented a transparent allocation mechanism based on a composite score blending on-chain activity, social signals, and MegaETH-specific engagement.
Top performers receive higher shares via a piecewise continuous curve, with a minimum threshold for qualifiers, while ongoing sybil detection ensures fairness.
On November 5, 2025, MegaETH announced the checker would go live the next day (November 6), allowing participants to verify their allocations. By November 7, it was fully operational and generating buzz in crypto communities, with users sharing results on X.
Wallets are ranked by a blend of:On-chain activity (e.g., transactions, holdings). Social engagement (e.g., X activity, Discord participation). MegaETH-specific contributions (e.g., testnet use, NFT holdings from their “Fluffe” collection).
Distribution Curve: High scorers get full or boosted allocations; lower ranks flatten to a minimum share. Low bidders among high scorers may see upward adjustments. Detected clusters like farmed accounts are excluded and redistributed.
Early supporters via channels like Heisenbruh often received allocations without lock-ups as a reward for prior involvement. NFT Tie-In: Holders of the soulbound “Fluffe” NFTs 10,000 supply, minted for 1 ETH each are guaranteed at least 5% of the token supply, with potential increases via “evolution” features.
Not everyone qualified—some active users with weak metrics missed out—but the team emphasized the process’s fairness. The official tool is a simple web app where you connect your wallet (e.g., MetaMask) to view results. It’s minimal and focused solely on confirmation.
Visit the site. Enter or connect your wallet address. It displays your status, allocated amount, and any discounts/lock-up details. Community-shared alternatives (e.g., allocations-megaeth.xyz) have popped up, but stick to the official one for accuracy.
MegaETH’s composite scoring on-chain + social + project-specific sets a new standard for anti-sybil, meritocratic token launches. It rewards genuine contributors over whales or bots.
Ongoing cluster detection and redistribution of sybil-allocated tokens signal zero tolerance for farming, boosting long-term community trust. Public checker allows participants to verify fairness themselves, reducing FUD and disputes seen in past sales (e.g., Arbitrum, Optimism).
Future L2s and protocols will likely adopt transparent, multi-signal scoring to avoid backlash and build loyal user bases. Core contributors get no lock-ups, while sale participants face 6–12 month cliffs. This creates tiered liquidity at launch, reducing dump risk.
Secondary Market Prep: Allocations now known ? pre-market trading (e.g., on Whales Market, Aevo) will heat up with clearer supply data. MegaETH’s <1ms latency claim now backed by real community skin-in-the-game.
Developer Incentives: Allocated users likely to build dApps on MegaETH to protect or compound their stake. Dragonfly, Consensys, and EigenLayer backers may integrate MegaETH into their stacks.
Checker success = flywheel for adoption. More users ? more devs ? more TVL. $MEGA likely to have staggered unlock dynamics, favoring long-term holders and reducing Day 1 volatility.
If you participated in the sale or hold Fluffe NFTs, now’s the time to check—results have surprised many, with allocations ranging from full bids for top wallets to minimums for qualifiers.
Almost everything in this story happened months ago, yet this story is somehow dated in November 2025. The David Sacks meeting — what was that, February?? The stablecoins bill you describe as having just been introduced by Hagerty was signed into law in July. That’s over, and they’re into implementation at the agencies now. Is there a single thing in this story that is newsworthy and not 6 months old? Who are you people?