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Former U.S. prosecutor John Deaton has proposed leading an investigation into the rumored Operation Chokepoint 2.0, which allegedly aims to restrict banking services for the crypto industry. He expressed concerns over regulatory overreach and its implications for institutional integrity, emphasizing the need for transparency. This proposal follows Deaton's recent loss in the Massachusetts Senate race, where he criticized Senator Elizabeth Warren's anti-crypto stance.
John Deaton, a prominent XRP advocate and lawyer, is rallying support for an investigation into "ChokePoint 2.0," a government initiative aimed at restricting banking access for the crypto industry. He argues that this initiative undermines free market principles and calls for accountability from unelected officials. Deaton's appeal has gained traction within the crypto community, with notable figures and organizations, including Coinbase, backing the push for transparency regarding the FDIC's actions.
VanEck forecasts a significant crypto bull market peaking in early 2025, with Bitcoin potentially reaching $180,000 and Ethereum surpassing $6,000. The report highlights the transformative role of stablecoins and tokenized securities in global finance, alongside the emergence of AI agents and advancements in DeFi and NFTs. Additionally, U.S. crypto policies are expected to shift under new leadership, promoting Bitcoin as a strategic asset and paving the way for federal or state-level Bitcoin reserves.
President-elect Donald Trump is building a crypto-friendly administration with key appointments, including Republican French Hill as chair of the House Financial Services Committee and Brian Quintenz as a leading candidate for CFTC chair. Hill, a moderate from Arkansas, will advance crypto-friendly legislation, while Quintenz, a former CFTC commissioner, aims to bridge digital assets and traditional finance. These moves signal a significant shift in the administration's approach to the digital economy, with other pro-crypto nominees also announced.
Donald Trump rang the opening bell at the New York Stock Exchange, celebrating his election victory and outlining plans to enhance U.S. leadership in crypto and artificial intelligence. He emphasized the need to double energy production to achieve this goal and announced an economic agenda focused on tax cuts and deregulation. The event marked his recognition as Time Magazine’s 2024 Person of the Year, with a warm reception from the Wall Street crowd.
President-elect Donald Trump rang the opening bell at the New York Stock Exchange after being named Time's 2024 Person of the Year, marking his second time receiving the honor. In his remarks, he highlighted his administration's plans, including expedited permits for major projects and a commitment to mass deportations. Trump also expressed skepticism about trusting others, including Israeli Prime Minister Netanyahu, while emphasizing his approach to reshaping American politics.
Richard Teng, CEO of Binance, stated that discussions about the exchange's potential return to the U.S. market are premature. This comes after Binance's exit following a $4.3 billion settlement with the Department of Justice over sanctions violations and money laundering. Teng emphasized the company's focus on global deployment and compliance as a competitive advantage, especially with a more crypto-friendly regulatory environment anticipated under former President Donald Trump's administration.
Pump.fun, a Solana-based platform for creating and trading tokens, has banned UK users following warnings from the financial regulator. The site has facilitated over 3.85 million token launches since January 2024, but has faced backlash over issues related to violence and abuse. Meanwhile, the JUSTICE token, created to honor euthanized pets, has seen a dramatic decline of over 99% since its launch, reflecting the volatility of meme coins in the market.
Donald Trump's incoming administration is set to feature a roster of ultra-wealthy appointees, including Elon Musk, who will co-lead an advisory group aimed at reducing government waste. With an average net worth of $616 million among Trump and his top picks, this administration could surpass the previous one, where the total wealth of Biden's Cabinet was estimated at $118 million. The influx of billionaires raises concerns about potential financial and ethical conflicts, as well as the impact on Trump's populist appeal.
David Sacks, a venture capitalist and former PayPal executive, has been appointed by President Trump as the White House AI & Crypto Czar, a role aimed at positioning the U.S. as a leader in these fields. His appointment is celebrated in the crypto industry, which hopes for clearer regulations and a more favorable environment after years of regulatory challenges. Sacks will lead a council to develop policies and legal frameworks for crypto businesses, working closely with the SEC and CFTC.
JD Vance
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