It was an enormous week for crypto following the inauguration of Donald Trump to a second time period Monday.
The White Home issued an govt order on digital belongings, calling for a pleasant strategy to crypto throughout the administration and the creation of a “digital asset stockpile” (which can, or might not be, a Bitcoin Strategic Reserve). Regulatory editors Nik De and Jesse Hamilton have been everywhere in the information, as regular.
The SEC withdrew a controversial crypto accounting rule, began a crypto taskforce headed by Hester Peirce (aka “Crypto Mother”), and named crypto-friendly Commissioner Mark Uyeda as performing chair.
Senator Cynthia Lummis, arguably crypto’s most loyal buddy in Congress, was named to move the Senate Banking Committee’s new digital belongings panel, Hamilton additionally reported.
We dissected the fallout from the (very) controversial memecoins dropped by the Trump household on the eve of Monday’s swearing in. CoinDesk’s Shaurya Malwa reported that 60 Solana Whales made off with at the least $10 million every (many others gained so much much less). Reporting from Tom Carreras on Monday confirmed that the paper wealth generated by these shock tokens was, frankly, staggering, even absurd.
Nonetheless the memecoins have been an incredible success, encouraging filings for memecoin ETFs, Helene Braun reported. Helene additionally broke the story about how CME leaked details about XRP and SOL futures ETFs by mistake, which sank these tokens and weighed on the broader market.
Ross Ulbricht, who created Silk Highway about 12 years in the past, educating 1000’s on bitcoin for the primary time, went free after serving ten years in jail. His freedom was a key promise of the Trump group on crypto. Sam Reynolds had the information.
And the information stored on coming. In truth, it was laborious to recollect every week when extra stuff of significance occurred in crypto. Amid all of it, the Ethereum group hotly debated its future (significantly that of the Ethereum Basis). Parikshit Mishra and Sam Kessler adopted the story.
Keep tuned for extra huge stuff occurring subsequent week.
