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The cryptocurrency market remains highly volatile, with Bitcoin recently reaching $95,642.11 and Ethereum climbing to $3,311.98. Analysts predict potential growth for both, with Bitcoin possibly exceeding $100,000 and Ethereum surpassing $5,000 by 2025, driven by mainstream adoption and its role in NFTs and DeFi. However, investors must navigate significant risks, including market unpredictability, security concerns, and regulatory uncertainties.
Kostovetsky warns that investing in cryptocurrency resembles gambling more than traditional investments, highlighting its volatility and the need for risk tolerance. While Trump’s administration may foster crypto adoption through regulatory clarity, the SEC's stance on cryptocurrencies as securities complicates the landscape. The Federal Reserve's refusal to hold a bitcoin reserve further underscores the challenges in establishing a stable framework for digital currencies.
Justin Sun allegedly pressured CoinDesk's new owners, Bullish, to remove a critical article about his $6.2 million purchase and public consumption of a banana artwork by Maurizio Cattelan. The piece, which also highlighted Sun's legal troubles with the SEC, raised concerns among CoinDesk's journalists regarding editorial independence after its removal. Despite the article being taken down, a version remains available through Yahoo News, intensifying tensions between the editorial team and Bullish.
President-elect Trump is urged to issue an Executive Order on his first day in office to halt investigations and prosecutions of crypto companies unless there are credible allegations of fraud or national security threats. This action aims to restore regulatory clarity and encourage innovation in the U.S. crypto market, which has been hindered by aggressive enforcement actions under the current SEC leadership. The proposed order would empower federal agencies to reassess ongoing cases and potentially terminate those lacking merit, positioning America as a leader in the global crypto economy.
A unanimous Fifth Circuit panel ruled that the Treasury Department's OFAC acted beyond its authority by sanctioning Tornado Cash's immutable smart contracts, which the court determined do not qualify as property. The decision highlights the distinction between software code and contracts, emphasizing that Congress, not the courts, should address regulatory gaps. The outcome may influence ongoing cases and future regulatory approaches in the crypto space.
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