Donald Trump’s recent appointment of David Sacks as the “AI and crypto czar” signals a shift towards less regulation and increased innovation in technology and cryptocurrency. This move, influenced by tech leaders like Elon Musk, aims to provide clarity for the crypto industry and foster advancements across various tech sectors. Observers anticipate a more crypto-friendly environment in Trump’s second term, potentially revitalizing venture capital investments.
A shift in the US's stance on digital assets is anticipated under the upcoming Trump presidency, potentially leading major banks to adopt crypto custody services as a first step toward deeper involvement in the sector. Trump has nominated crypto advocate Paul Atkins to head the SEC, replacing skeptic Gary Gensler, and appointed David Sacks as the White House's lead on artificial intelligence and cryptocurrency.
Institutional players are reshaping the Bitcoin market, potentially leading to reduced volatility and a more stable environment. The Bitcoin Reserve Act could trigger a global race for Bitcoin accumulation among nations, fundamentally altering market dynamics and investor behavior. As institutional adoption grows, the influence of external factors may overshadow traditional cycles, challenging the notion of predictable price movements.
Franklin Templeton has filed for a dual crypto index ETF to track Bitcoin and Ether, coinciding with Bitcoin's stabilization at the critical $100K support level. Analysts predict that the SEC may approve this ETF alongside similar proposals from Bitwise and Hashdex in 2025, bolstered by recent regulatory appointments and a favorable market outlook. The proposed fund will focus solely on Bitcoin, Ether, cash, and cash equivalents, aiming to replicate the CF Institutional Digital Asset Index without engaging in staking or income-generating activities.
Michael Saylor, co-founder and Chairman of MicroStrategy, has expressed his willingness to advise President-elect Trump on digital asset policies. MicroStrategy's shares have surged nearly 500% in 2024, driven by its aggressive Bitcoin acquisition strategy, raising questions about its long-term sustainability. The firm has also attracted significant interest from hedge funds, facilitating the issuance of $6.2 billion in convertible securities this year, while its market capitalization has surpassed $90 billion, leading to its inclusion in the Nasdaq 100 Index.
Federal Reserve Chair Jerome Powell has stated that the Fed will not stockpile bitcoin, emphasizing that this issue is for Congress to address. The proposal for a U.S. Strategic Bitcoin Reserve, suggested by Trump, faces significant legal and regulatory hurdles, including potential Congressional approval and funding concerns. While Trump plans to appoint pro-crypto leaders, the Fed remains focused on monitoring the impact of cryptocurrencies on the banking system.
Federal Reserve Chair Jerome Powell has firmly stated that the Fed cannot hold bitcoin due to legal restrictions outlined in the Federal Reserve Act, which limits its assets to U.S. government bonds. He reiterated his cautious stance on cryptocurrencies, labeling them as speculative and volatile, while distinguishing them from central bank digital currencies (CBDCs). Meanwhile, President-elect Donald Trump has proposed establishing a national bitcoin reserve, aiming to enhance the U.S.'s position in the cryptocurrency market, which has led to a surge in bitcoin's value.
Crypto.com has voluntarily withdrawn its lawsuit against the SEC, a surprising move following CEO Kris Marszalek's meeting with President-elect Donald Trump. The discussions included potential government appointments and a proposed national Bitcoin reserve, signaling a shift towards collaboration with the new administration, which is seen as more supportive of crypto innovation. Key appointments, such as Paul Atkins as SEC Chairman and David Sacks as the White House A.I. & Crypto Czar, further indicate a pro-crypto regulatory environment.
Venture capitalists are optimistic for 2025, driven by a surge in AI investments, which exceeded $87 billion in 2024. With anticipated regulatory rollbacks, sectors like fintech, energy, and especially crypto are poised for growth, while clean energy and electric vehicles may face challenges. The venture ecosystem is expected to improve compared to 2024.
Michael Saylor, co-founder of MicroStrategy, expresses optimism about the US under the leadership of newly appointed "crypto czar" David Sacks, who is expected to drive significant advancements in digital assets and financial innovation. Senator Cynthia Lummis also anticipates 2025 as a pivotal year for Bitcoin and digital assets, highlighting the potential for comprehensive legislation and a US strategic Bitcoin Reserve. Ripple CEO Brad Garlinghouse commends Sacks for his understanding of technology and his capability to support the White House's cryptocurrency and AI initiatives.
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