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U.S. Rep. Harriet Hageman addressed concerns over the Trump administration's DOGE initiative, which has led to significant cuts in federal jobs and programs in Wyoming. While she acknowledged some positive aspects of federal aid, she emphasized the need for local decision-making and expressed support for federal workers. Other state leaders, including Senators John Barrasso and Cynthia Lummis, have varied in their responses, with some praising the downsizing while recognizing the hardships it may cause in local communities.
Senator Cynthia Lummis indicated that states are likely to adopt Bitcoin reserves before the federal government, as she spoke at the Bitcoin Investor Week conference in New York. Lummis, a Republican from Wyoming, previously proposed the BITCOIN Act in July 2024, which aims to establish a national Bitcoin stockpile.
2025 is poised to be a significant year for Bitcoin and the crypto sector, following a transformative 2024 marked by political support and technological advancements. Bitcoin's price surged post-halving, bolstered by spot Bitcoin ETFs and potential U.S. strategic reserves, while competition among smart contract platforms intensified, with Ethereum facing challenges from faster alternatives like Solana. Additionally, the rise of AI and real-world asset tokenization fueled Web3 growth, setting the stage for continued momentum in the crypto landscape.
Telegram's TON Blockchain is set to expand in the US, driven by anticipated pro-crypto regulations under President-elect Donald Trump. Following his historic election victory in November 2024, Trump is expected to issue executive crypto policy orders on his first day in office, positioning the US as a leader in the cryptocurrency industry.The TON Foundation has appointed Manuel Stotz as its new president to focus on growth in the US market, with hopes that the country will soon become a global crypto hub. Senator Cynthia Lummis suggests that a strategic Bitcoin reserve could be established within Trump's first 100 days back in office.
The Trump administration is poised to implement significant reforms for the crypto industry on its first day, focusing on re-banking the sector and repealing restrictive SEC rules, particularly the controversial SAB 121. Key figures, including Marc Andreessen, are shaping a pro-crypto team, with David Sacks appointed as the White House AI and Crypto Czar. This initiative aims to dismantle previous anti-crypto policies and foster a more favorable regulatory environment.
Leaked recordings reveal alarming practices within the FDIC, including alleged FOIA evasion tactics, media manipulation, and cover-ups of sexual misconduct. Whistleblowers accuse executives of insider trading and express concerns over the agency's relevance amid the rise of blockchain technology. The crypto community has reacted strongly, with calls for investigations into the allegations.
The Senate Banking Committee has established its first crypto subcommittee, led by pro-crypto Senator Cynthia Lummis, as Republicans aim to advance digital asset legislation under President-elect Donald Trump. This initiative follows the House's successful passage of the Financial Innovation and Technology for the 21st Century Act (FIT21), which seeks to clarify regulatory roles between the SEC and CFTC. The subcommittee's composition includes several Republican senators, while the Democratic appointment remains uncertain, with Senator Elizabeth Warren's opposition to cryptocurrency likely influencing her stance.
Fidelity's report suggests that by 2025, nations, central banks, and sovereign funds may increasingly allocate Bitcoin as a strategic investment, driven by the success of countries like Bhutan and El Salvador. The anticipated approval of spot Bitcoin ETPs in 2024 is expected to enhance institutional acceptance, with the U.S. potentially leading this shift under a supportive administration. However, uncertainties in government policy and competing legislative priorities could pose challenges to this trend.
Bitcoin experienced significant volatility this week, dropping from a high of over $102,000 to around $94,400, influenced by Federal Reserve signals on interest rates and low unemployment data suggesting inflation. Additionally, a U.S. court approved the sale of over 69,000 Bitcoin seized from the Silk Road, potentially adding sell pressure to the market. Investors also pulled substantial funds from American Bitcoin ETFs, contributing to the cryptocurrency's decline.
In 2024, 96% of financial advisors received client inquiries about crypto, the highest recorded level, with 56% more likely to invest in it. The political landscape shifted favorably for crypto following the US elections, with 99% of current crypto investors planning to increase exposure in 2025. Despite challenges like volatility and regulatory uncertainty, confidence in valuing crypto assets is rising, and advisors are increasingly exploring sophisticated investment strategies.
Cynthia Lummis
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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