Mark Yusko claims Donald Trump and his son Eric are investing heavily in cryptocurrencies like Bitcoin, XRP, and Hedera, potentially influencing U.S. crypto policies and ETF approvals. Speculation arises about classifying XRP and HBAR as national assets, while Charles Hoskinson refutes these claims, asserting Bitcoin is the only contender for a national reserve. Yusko remains optimistic about a shift in U.S. leadership towards a more crypto-friendly environment, reflecting global trends in innovation and competitiveness.
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.
Bloomberg ETF analysts predict a wave of cryptocurrency ETFs next year, starting with a Bitcoin and Ethereum combo, followed by Litecoin and Hedera Hashgraph. A joint XRP and Solana ETF may be delayed due to ongoing legal issues, but optimism remains for future approvals under a new SEC administration.
President-elect Donald Trump met with Crypto.com CEO Kris Marszalek at Mar-a-Lago to discuss potential crypto appointments and Bitcoin reserves. The meeting aligns with Trump's strategy to appoint crypto advocates to key financial positions, aiming to establish clear regulations for the industry.As Trump transitions, he has already nominated Paul Atkins as SEC Chairman and is expected to announce the CFTC chair soon. Meanwhile, Crypto.com has filed a lawsuit against the SEC, challenging its jurisdiction over crypto assets and seeking clarity on regulatory oversight.
Bitcoin soared to a new all-time high of $107,822, driven by President-elect Donald Trump's commitment to establishing a national Bitcoin reserve. This surge follows Trump's remarks about enhancing the U.S. position in the crypto space, alongside support from Wyoming Sen. Cynthia Lummis, who introduced the Bitcoin Act. The potential for a strategic reserve has sparked optimism among investors, suggesting a competitive landscape for Bitcoin adoption among nations.
Senator Cynthia Lummis recently met with Treasury Secretary Scott Bessent to discuss establishing a US strategic Bitcoin reserve, reflecting a growing bipartisan interest in digital assets. This initiative, supported by President-elect Donald Trump, aims to position the US competitively against nations like China and Russia. However, some industry voices caution that the focus should shift from creating a reserve to protecting rights against asset seizures.
Bitcoin surged past $100K, driven by retail investor enthusiasm and strategic pro-crypto appointments in the Trump administration, including Scott Bessent as Treasury Secretary and Paul Atkins as SEC chair. Ethereum also saw significant ETF inflows, outperforming Bitcoin during market fluctuations, while bluechip NFTs and Ethereum Layer 2 solutions thrived. The return of retail investors, particularly older demographics, signals a shift in market dynamics as interest in both Bitcoin and altcoins grows.
Goldman Sachs CEO David Solomon stated that the bank will not engage in cryptocurrency trading until U.S. regulations change. He emphasized that as a regulated institution, they cannot own cryptocurrencies like Bitcoin as a principal, although they continue to advise clients on related technologies. This comes amid rising interest in crypto products, highlighted by BlackRock's Bitcoin ETF surpassing its gold counterpart.
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.
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