The Daily: Cathie Wood says US government may soon start buying bitcoin, Ripple secures FCA authorization, and more

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Happy Friday! Despite cooling from its initial new year rally, bitcoin's path of least resistance still points toward a $100,000 breakout if inflation cools and unemployment holds steady, 21Shares crypto research strategist Matt Mena told The Block.

In today's newsletter, Ark Invest's Cathie Wood says the U.S. government may start buying bitcoin, Ripple secures authorization from the UK's financial regulator, Colombia's tax authority mandates crypto exchanges to submit user data, and more.

Meanwhile, crypto's next phase is going beyond just new blockchains, a16z says.

P.S. Don't forget to check out The Funding, a biweekly rundown of crypto VC trends. It's a great read — and just like The Daily, it's free to subscribe!

Cathie Wood says US government may soon start buying bitcoin for strategic reserve

Ark Invest founder Cathie Wood said the U.S. government may soon start buying bitcoin to build out its national reserve.

• "It seems as though there has been reticence about actually buying bitcoin for the strategic reserve. So far, it's confiscated [bitcoins]," Wood said on the "Bitcoin Brainstorm" podcast, referring to the assets seized by government forfeiture that President Trump pledged not to sell.
• "The original intent was to own 1 million bitcoins, so I actually think they will start buying," she added.
• Wood said crypto remains politically important for Trump ahead of this year's midterms, framing it as a way to avoid becoming a "lame-duck" president and deliver another productive phase of his agenda.
• She argued the crypto community played a meaningful role in Trump's election win, reinforcing incentives for the administration to keep backing the sector.
• Wood noted that while the bitcoin reserve currently consists only of confiscated assets, the U.S. Treasury and Commerce Departments were tasked with finding budget-neutral ways to add more BTC.
• The Ark Invest CEO also said the administration will push for a de minimis tax exemption on small crypto transactions, while states like Florida and Texas pursue their own bitcoin stockpile efforts.

Ripple secures FCA authorization, clearing path for UK expansion

Ripple secured approval from the UK's Financial Conduct Authority for an Electronic Money Institution license and crypto asset registration, clearing the way for expanded operations in the country.

• These permissions allow Ripple to expand its licensed payments platform, enabling UK institutions to send cross-border payments using digital assets.
• Ripple President Monica Long said the approvals support a shift from pilots to blockchain as core financial infrastructure, aimed at unlocking dormant capital and enabling instant value transfer.
• The authorization comes as the UK moves toward a full crypto regulatory regime by 2027, with the FCA expecting to open a new licensing gateway for crypto firms this September.

Colombia's tax authority mandates crypto exchanges to submit user data

Colombia's tax authority, DIAN, mandated crypto exchanges and intermediaries to collect and report detailed user and transaction data to curb tax evasion.

• The new rules require reporting on ownership, volumes, values, and balances for bitcoin, ether, stablecoins, and other assets, aligning Colombia with the OECD Crypto-Asset Reporting Framework.
• Reporting applies to both domestic and foreign providers serving Colombian taxpayers with filings covering 2026 activity due by the end of May 2027, and fines of up to 1% for non-compliance.
• The move comes as Colombia ranks among Latin America's most active crypto markets, with Chainalysis recently estimating $44.2 billion in transaction volume from mid-2024 to mid-2025.

Spot Bitcoin ETFs extend negative streak, reporting $400 million in outflows

U.S. spot Bitcoin ETFs extended their losing streak to three days with nearly $400 million in net outflows on Thursday.

• Over the past three days, roughly $1.12 billion has exited the Bitcoin ETFs, nearly wiping out the net inflows generated during the first two trading days of 2026.
• BlackRock and Fidelity's funds led Thursday's exits, while Ark Invest and Grayscale's products also posted net outflows.
• Meanwhile, Ethereum ETFs tracked the weakness with $159 million in net outflows, even as bitcoin held near $90,000 amid what analysts described as a consolidation phase rather than waning institutional demand.

Rain valuation nears $2B after $250M Series C raise for stablecoin payments firm

Rain said it has raised $250 million via an ICONIQ-led Series C round, lifting its valuation to $1.95 billion and total funding to $338 million.

• Rain, which currently facilitates Visa-linked stablecoin cards and wallets for 200 partners, said it will use the fresh capital to secure licenses and expand its stablecoin payment infrastructure services across the Americas, Europe, Asia, and Africa.
• "Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work," Farooq Malik, CEO and co-founder of Rain, said.

Looking ahead to next week

• U.S. CPI inflation figures are due on Tuesday. U.S. PPI and mortgage data follow on Wednesday. UK GDP and U.S. jobless claims numbers are out on Thursday.
• Optimism, Linea, Aptos, Starknet, Arbitrum, and Sei are among the crypto projects set for token unlocks.
• CfC St. Moritz 2026 gets underway in Switzerland.

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