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Eric Trump expressed confidence that the U.S. can become a cryptocurrency superpower through sensible regulation, emphasizing his family's support for digital assets and decentralized finance. He criticized the current banking system as outdated and called for clear regulatory guidelines to foster innovation and efficiency in the industry. Trump also highlighted Elon Musk's potential influence on future policy, aiming to streamline government and promote business growth.
Ripple CEO Brad Garlinghouse criticized CBS News' 60 Minutes for omitting a key legal victory in which a federal judge ruled XRP is not a security when traded on public exchanges. He argued that this exclusion misrepresents XRP's regulatory status and highlighted Ripple's compliance and success in facilitating billions in cross-border transactions. Garlinghouse also noted the growing political influence of the crypto industry, particularly following significant contributions to pro-crypto candidates during the recent US elections.
The idea of a U.S. strategic reserve for Bitcoin, as suggested by President-elect Donald Trump, is viewed skeptically, with claims that it could be the largest crypto scam to date. Bitcoin's value has surged over 50% since early November, fueled by significant donations from crypto advocates to Trump's campaign. The feasibility of such a reserve hinges on specific details yet to be clarified.
After Donald Trump nominated Paul Atkins, a cryptocurrency advocate, to lead the SEC, Bitcoin's price surged past $100,000, igniting enthusiasm among crypto investors. This excitement mirrors the late nineties dot-com boom, raising concerns about a potential market correction ahead.
Triple-A has launched a dedicated crypto payment option for Coinbase users, enhancing transaction ease within its global merchant network. This collaboration allows merchants across various sectors to offer a Coinbase-specific payment method, promoting broader cryptocurrency adoption.The partnership emphasizes compliance with evolving regulations, ensuring secure and efficient transactions while addressing AML and CFT requirements. By combining their strengths, Triple-A and Coinbase aim to foster trust and facilitate mainstream acceptance of cryptocurrency payments in regulated markets.
In the 2024 election, the cryptocurrency industry significantly influenced outcomes, contributing $48 million to political action committees that supported pro-crypto candidates. Ripple CEO Brad Garlinghouse noted that crypto-backed super PACs played a crucial role in educating voters, leading to victories for 85% of the 62 candidates backed by the industry. The push for clearer regulatory frameworks continues, with bipartisan support for legislation like FIT21, which aims to shift more regulatory authority to the CFTC.
XRP, with a market cap of $149 billion, is making significant strides in tokenization and decentralized finance (DeFi), highlighted by the upcoming launch of its stablecoin, ripple usd (RLUSD). Despite its growth, challenges remain in liquidity and DeFi activity on the XRP Ledger, which currently shows limited engagement. Ripple's strategic moves aim to position it as a key player in the evolving financial landscape, even as it faces criticism and the need for improved infrastructure.
Virgin Voyages has begun accepting Bitcoin for cruise bookings, aiming to attract tech-savvy travelers. Meanwhile, President-elect Donald Trump has nominated pro-crypto Paul Atkins as the next SEC chair, signaling potential regulatory changes. Bitcoin surged past $100,000 for the first time, driven by these developments, while Coinbase's CEO criticized law firms that oppose the crypto industry. Michael Saylor urged Microsoft to adopt Bitcoin, emphasizing its importance in the digital economy.
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