It was a giant week for crypto following the inauguration of Donald Trump to a second time period Monday.
The White Home issued an executive order on digital assets, calling for a pleasant strategy to crypto throughout the administration and the creation of a “digital asset stockpile” (which can, or will not be, a Bitcoin Strategic Reserve). Regulatory editors Nik De and Jesse Hamilton had been everywhere in the information, as normal.
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 acting chair.
Senator Cynthia Lummis, arguably crypto’s most loyal good friend in Congress, was named to head the Senate Banking Committee’s new digital assets 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 not less than $10 million every (many others gained loads much less). Reporting from Tom Carreras on Monday confirmed that the paper wealth generated by these surprise tokens was, frankly, staggering, even absurd.
Nonetheless the memecoins had been a terrific 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 Street about 12 years in the past, educating hundreds on bitcoin for the primary time, went free after serving ten years in jail. His freedom was a key promise of the Trump workforce on crypto. Sam Reynolds had the news.
And the information stored on coming. Actually, it was onerous 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 Foundation). Parikshit Mishra and Sam Kessler adopted the story.
Keep tuned for extra massive stuff taking place subsequent week.
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