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Exodus Movement Inc., the company behind the Exodus self-custodial crypto wallet, made a strong debut on Wall Street, with shares soaring 36.33% to close at $53.50. This listing on NYSE American follows regulatory approval from the SEC after previous over-the-counter trading. Despite reporting a $10 million net loss, year-over-year revenue increased by 80% to $22.3 million as the firm expanded its services.
The Digital Chamber of Commerce is urging the incoming SEC leadership to review all crypto-related investigations and lawsuits from day one, advocating for a reset in the SEC's relationship with the digital asset industry. They propose pausing probes not involving fraud or investor harm and repealing key regulations like SAB 121, which burdens crypto custody providers. With bipartisan support for these changes, the Chamber aims for a more transparent regulatory framework under new SEC Chair Paul Atkins, succeeding Gary Gensler.
Bitwise has launched a Solana Staking ETP on the Deutsche Börse AG, catering to European investors seeking higher returns through staking, which rewards users for locking up their SOL tokens. As the asset approaches an all-time high, Bitwise has also filed for a Solana ETF in the U.S., amid growing optimism for regulatory changes following the upcoming political shifts. However, staking remains contentious in the U.S. due to ongoing SEC scrutiny.
Arthur Hayes, co-founder of BitMEX, warns that the bullish crypto market following Donald Trump's election victory may face a significant downturn around his inauguration on January 20th. He predicts a "harrowing dump" as investors realize that substantial policy changes may take time, leading to a sell-off in crypto assets. Despite this, Hayes remains optimistic about potential market recovery after the inauguration.
President-elect Donald Trump met with Crypto.com CEO Kris Marszalek at Mar-a-Lago, where they discussed a federal bitcoin stockpile and a crypto-friendly regulatory framework. Following the meeting, Crypto.com dropped its lawsuit against the SEC, signaling optimism about Trump's regulatory approach. Trump has pledged to implement regulations crafted by industry supporters and plans to replace SEC Chair Gary Gensler with former Commissioner Paul Atkins.
XRP is poised for significant growth, driven by six key factors, including the recent approval of Ripple's stablecoin RLUSD and a surge in daily transactions on the XRP Ledger. Following Donald Trump's re-election and the anticipated departure of SEC Chairman Gary Gensler, analysts predict XRP could reach unprecedented heights, potentially hitting $5 by February 2025. The asset has reclaimed its position as the third largest cryptocurrency by market cap, currently trading at $2.5, just below its yearly high.
A wave of crypto ETFs is anticipated for approval in 2025, with firms like Hasdex, Franklin Templeton, and Bitwise Invest leading the charge for Bitcoin and Ethereum ETFs. However, complex legal issues regarding token classifications may complicate the process, particularly for Solana and XRP.The incoming Trump administration, with Paul Atkins likely as the new SEC chair, is expected to foster a more crypto-friendly regulatory environment, potentially enhancing institutional adoption of digital assets. The CFTC may also play a role in regulating certain crypto assets, further shaping the landscape.
Bloomberg analysts predict a rise in cryptocurrency ETFs by 2025, driven by potential changes in SEC leadership with pro-crypto advocate Paul Atkins. Bitcoin and Ethereum ETFs are expected to dominate the market due to their classification as commodities, while Solana and XRP face uncertain approval due to ongoing legal issues. Litecoin and HBAR ETFs may gain traction, although demand remains uncertain.
By the end of 2025, the US cryptocurrency landscape is poised for significant change, driven by Republican leadership and anticipated regulatory clarity that will foster innovation. As over 80 countries explore Central Bank Digital Currencies (CBDCs), the UK is leading with a regulated platform for digital currencies, while the US is expected to adopt a more favorable regulatory stance under the incoming Trump administration. Increased institutional trading activity and the need for robust infrastructure will shape the market, alongside a push for global regulatory coordination to ensure financial stability.
Multiple new cryptocurrency exchange-traded funds (ETFs) are expected to launch in 2025, with a focus on Bitcoin and Ethereum combo funds leading the way. Analysts predict that a Litecoin ETF will likely debut before those for XRP and Solana, which face regulatory hurdles due to ongoing lawsuits. The SEC's anticipated shift towards a more crypto-friendly stance could facilitate this process, although investor demand for these products remains uncertain.
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