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Michael Barr, the Federal Reserve's vice chair for supervision, is resigning effective February 28, amid criticism for his role in "Operation Chokepoint 2.0," which allegedly targeted crypto companies. His departure has been welcomed by some in the crypto community, who view him as a barrier to banking services for the industry. Despite stepping down from his supervisory role, Barr will remain on the Federal Reserve Board of Governors and has advocated for responsible stablecoin regulation.
A private committee, led by Bitcoin specialist Yves Bennaïm, is pushing for a popular initiative in Switzerland to mandate the Swiss National Bank to invest in Bitcoin, amending the constitution to allow part of its reserves in the cryptocurrency. The initiative, which requires 100,000 signatures by mid-2026, follows previous recommendations for significant Bitcoin investments that could have yielded substantial returns. As global interest in national Bitcoin reserves grows, Switzerland has the chance to take a leading role in this emerging financial landscape.
Georgia Representative Mike Collins disclosed investments in the Ski Mask Dog (SKI) token, purchasing between $1,001 and $15,000 in three transactions from December 1 to December 3, 2024, amid a crypto market surge. This follows his reelection victory and adds to his previous investments in Ether, Velodrome, Aerodrome Finance, and The Graph. Collins, who has supported crypto-friendly legislation, is the first member of Congress to file such a report in 2025, highlighting his growing interest in digital assets.
Georgia Congressman Mike Collins disclosed a cryptocurrency investment in the Ski Mask Dog (SKI) token, valued between $1,001 and $15,000, in his January 1 financial report. The SKI token surged from under $0.01 to over $0.35 following the U.S. election, reflecting increased market interest. Collins, who has a diverse crypto portfolio, complies with the STOCK Act, which mandates lawmakers to report such investments.
Bitcoin adoption is surging in the U.S., with 13 states proposing strategic reserves to enhance economic stability amid rising inflation. Inspired by El Salvador, states like Texas and Ohio are leading initiatives to integrate Bitcoin into their financial systems, while discussions at the federal level gain traction under the Trump administration. Other nations, including Hong Kong and Brazil, are also exploring Bitcoin as a strategic asset, despite some countries expressing caution due to market volatility.
Representative Mike Collins of Georgia disclosed a cryptocurrency investment in Ski Mask Dog (SKI) valued between $1,001 and $15,000, made in December 2024. This follows his reelection victory, and he has previously invested in other digital assets like Ether and Velodrome. While some lawmakers push for stricter regulations on trading, Collins has not prioritized crypto in his policy agenda.
The 119th Congress prioritizes crypto legislation, focusing on stablecoins and market structure, with hopes for clarity on regulatory oversight. While bipartisan support exists, significant delays are expected, as political pressures and other legislative priorities may slow progress. Optimism for a national bitcoin reserve remains low, with experts doubting swift action.
Dogecoin is showing bullish potential as it rallies past recent resistance levels, with a price target of $3 by 2025 driven by a favorable market backdrop and the anticipated pro-crypto policies of the incoming Trump administration. With a current market cap near $50 billion, Dogecoin could reclaim its 2021 highs and possibly exceed them, especially if altcoin season ignites. Historical trends suggest that Dogecoin may surpass previous Fibonacci extension levels, indicating a strong future performance.
The US government is not expected to purchase Bitcoin in 2025, according to Galaxy Research, which indicates it will focus on managing its existing 183,850 BTC supply. Discussions on a Bitcoin reserve policy are anticipated, with potential legislation allowing the government to acquire 1 million BTC over five years. Meanwhile, competition among nations for Bitcoin adoption may intensify, particularly among those with significant sovereign wealth funds.
In 2024, the crypto landscape faced significant challenges, including the banning of unauthorized platforms like Pump.fun in the UK and the rise of scams, such as pig butchering, costing victims over $75 billion. Prominent figures like Sahil Arora drew criticism for celebrity-endorsed memecoins, while the Biden administration's "Operation Choke Point 2.0" allegedly isolated crypto from banking services. Despite these hurdles, advocates like President-elect Donald Trump and El Salvador's Nayib Bukele pushed for crypto adoption, setting the stage for a potentially more favorable environment in 2025.
Cynthia Lummis
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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