President-elect Donald Trump has nominated Wall Street titan Scott Bessent as Treasury Secretary.
Distributed ledger technology can help solve longstanding challenges in US financial markets, the report said.
Donald Trump has not yet named his pick for SEC chair to send to the Senate, but Commissioner Mark Uyeda offered a preview of the regulator’s approach to crypto in 2025.
Another Democratic commissioner on the Securities and Exchange Commission is following Chair Gary Gensler out the door in January, leaving the agency with a Republican majority as it weighs a likely course shift under the new administration of President-elect Donald Trump.
The Association ultimately seeks a swift end to the “regulation by enforcement” era of cryptocurrency oversight in the US.
President-elect Donald Trump’s transition team is reportedly set to implement the establishment of a national Strategic Bitcoin Reserve (SBR). At the center of this development is the formation of a crypto advisory council to revise US policy on digital assets, as Reuters reports. Major crypto companies are vying for seats on the council, including Ripple, […]
On Thursday, the XRP price soared to $1.41, marking its highest trading value in over three years. This surge coincides with a shifting regulatory landscape in the United States, spurred by the anticipated administration of President-elect Donald Trump. During his campaign, Trump pledged to position America as the “crypto capital of the world,” a promise that is beginning to resonate with market participants even before his inauguration on January 20, 2025. Gensler Sets Last Day At SEC For January 20 In recent weeks, the cryptocurrency market has seen a notable uptrend, with Bitcoin leading the charge and achieving consecutive all-time highs. This momentum is in part a response to the positive sentiment surrounding Trump’s pro-crypto promises, which is expected to facilitate a more favorable environment for digital assets. Related Reading: FTX Provides Details On $16 Billion Distribution Timeline For Customers And Creditors Central to this optimism is the expected departure of Gary Gensler, the current chair of the US Securities and Exchange Commission (SEC). Gensler has been criticized for fostering an unclear regulatory environment that many argue has stifled the growth of cryptocurrencies in the US. For XRP and Ripple Labs, this scrutiny has been particularly pronounced over the past four years under the Biden administration. Trump previously vowed to remove Gensler from his position, a move that many in the crypto community view as a necessary step toward clearer regulations. Yet, on the same day as Trump’s anticipated inauguration, Gensler confirmed that January 20, 2025, will be his last day at the SEC. His resignation preempts what many experts speculated could be a contentious conflict if he remained in office while Trump sought to replace him. XRP Price Surges Nearly 30% In 24 Hours This shift in the regulatory landscape in the US has contributed to a clearer outlook for digital assets, as reflected in XRP price movements. In the past 24 hours alone, XRP recorded gains of nearly 30%, and over the past week, it has increased more than 70%. Crypto analyst Ali Martinez recently shared his views on X (formerly Twitter), stating that Gensler’s exit could be highly beneficial for both Ripple Labs and the XRP price, which he believes is now targeting $2. Related Reading: Ethereum Sees Neutral Netflow On Binance: What Does This Signal? Another analyst, CrediBull, echoed this sentiment, noting that XRP’s monthly Relative Strength Index (RSI) is approaching overbought territory for the first time in three years. The analyst emphasized that a higher RSI typically indicates stronger momentum and bullish prospects for the asset, absent any bearish divergences. CrediBull suggested that the next significant target for XRP is $2, with aspirations for new all-time highs thereafter. Currently, the token’s all-time high stands at $3,040, which was reached nearly seven years ago in January 2018. This means that the XRP price could be in for a massive 150% uptrend in the coming months. Featured image from DALL-E, chart from TradingView.com
President-elect Donald Trump’s media company is reportedly considering the launch of a crypto payment service, as indicated by a recent trademark application filed with the US Patent and Trademark Office. Exploring New Horizons The application, submitted on Monday, pertains to a service named “TruthFi,” which is envisioned as a platform for crypto payments, financial custody […]
President-elect Donald Trump’s transition team is reportedly considering the creation of a dedicated White House position to oversee crypto policy, and Cardano founder Charles Hoskinson has presented whom he thinks is the perfect pick for this role. According to sources familiar with the discussions, candidates are being vetted for what would be the first crypto-specific […]
In a recent interview with FOX Business, Brad Garlinghouse, CEO of Ripple Labs, shared insights on the so-called “Trump trade” impacting crypto prices, as evidenced by Bitcoin’s recent streak of consecutive all-time highs over the past 48 hours. Garlinghouse also discussed how Ripple, and the broader digital asset industry, fit into the upcoming regulatory landscape expected under President-elect Donald Trump in the coming year. Ripple CEO Optimistic About Trump’s Pro-Crypto Stance Garlinghouse emphasized that since its inception, Ripple has focused on addressing the inefficiencies of traditional cross-border payments, which he described as “slow and expensive.” By utilizing XRP, the company aims to streamline these transactions, making them faster and more cost-effective. However, the CEO criticized the Biden administration’s stance on digital assets, referring to it as an “unlawful war” against the industry. He expressed optimism that with Trump’s pro-crypto approach, the landscape may be transforming. Related Reading: BlackRock Bitcoin ETF Options Surge: December 20 Call Signals BTC Price Target Of $180,000 When asked about the potential for increased revenue opportunities in the US under the upcoming regulatory changes, Garlinghouse explained that the US Securities and Exchange Commission’s (SEC) lawsuit against XRP had effectively “frozen” Ripple’s market potential in the country. Currently, 95% of Ripple’s customer base is located outside the US, with Garlinghouse pointing out that the company cannot fully realize growth in a market where regulatory clarity is lacking. Garlinghouse observed that while the cryptocurrency industry is flourishing in countries like China, Japan, the UK, and Switzerland, the US has lagged behind in embracing digital assets. Ripple’s CEO expressed hope that the anticipated deregulation under Trump would lead to clearer guidelines, allowing agencies like the SEC and the Commodity Futures Trading Commission (CFTC) to play a constructive role in shaping the industry. Garlinghosue criticized the existing regulatory framework, particularly the application of the Howey Test, which he believes fails to adequately address the unique characteristics of the crypto sector. He also underscored the need for updated regulations that reflect the realities of an industry that has developed significantly over the past decade. US As Digital Asset Hub In Coming Years During the interview, FOX Business highlighted comments from Coinbase’s Chief Policy Officer, Faryar Shirzad, regarding the private meeting between Trump and Brian Armstrong, CEO of Coinbase. Shirzad noted that Trump has expressed a willingness to engage with the crypto industry, fostering a vision for the US to become the global leader in digital assets. Garlinghouse echoed these sentiments, recognizing Coinbase’s influential role in advocating for the cryptocurrency agenda during the election campaign. Related Reading: Bitcoin Rally Driven By U.S. Coinbase Investors – Top Analyst Shares Metrics As speculation mounts regarding potential candidates for the SEC chair position under Trump—names like Dan Gallagher, Teresa Goody, and Commissioner Mark Uyeda have surfaced—Garlinghouse emphasized the importance of the new chair working collaboratively with Congress to address regulatory gaps that contribute to confusion in the market. Garlinghouse concluded with an optimistic outlook, stating that he believes a new era for cryptocurrency is on the horizon in the US. He envisions the country becoming a central hub for digital assets and blockchain technology over the next five to ten years. At the time of writing, XRP is trading at $1.10, marking a massive 104% surge in just two weeks since Trump’s election victory. However, the token is still trading 67% below its all-time high of $3,040, which it reached nearly seven years ago. Featured image from DALL-E, chart from TradingView.com
Mike Novogratz, the founder and CEO of Galaxy Digital Holdings—a leading crypto investment firm listed on the Toronto Stock Exchange—has signaled a significant shift in the global adoption of Bitcoin. In a post on Tuesday via X, Novogratz declared that countries are already purchasing Bitcoin. Nation-State Bitcoin FOMO Is Real “Countries are already buying BTC in huge volumes—these are massive pools of capital entering the market. We’re witnessing global adoption at scale and the next rally could be massive. Buckle up. Caught up last week with Bloomberg TV, he stated via X. In the Bloomberg interview, Novogratz elaborated on the unprecedented interest from sovereign entities. He mentioned a close associate—the person who introduced him to BTC in 2013—who is currently in the Middle East. “He’s never seen anything like it,” Novogratz said. “He’s convincing more people to buy Bitcoin in the three days he’s been there than any time in his whole career, and they’re huge pools of capital. And so we’re seeing something globally.” Related Reading: US Bitcoin Reserve Will Push Price Above $1 Million, Expert Predicts Novogratz noted that when former President Donald Trump advocated in Nashville that he intended to be a “crypto president” and a “Bitcoin president,” it caught the attention of international leaders. “Other leaders heard that,” he remarked, suggesting that geopolitical factors could contribute to an “amazing rally” in the Bitcoin market. When questioned about the likelihood of the United States establishing a Strategic BTC Reserve under a Trump presidency, Novogratz remained cautious. “I still think it’s a low probability,” he stated. He cited the complexities of US legislative processes, emphasizing that while the executive branch or the House might show enthusiasm, the Senate often urges restraint. “That’s the role of the Senate,” he said, pointing out that Republicans do not hold a 60-seat majority necessary to push through such initiatives unilaterally. Nonetheless, Novogratz acknowledged the potential benefits of the US embracing Bitcoin at a strategic level. “It would be very smart for the United States to take the Bitcoin they have and maybe add some to it,” he suggested, adding that it would signal a commitment to being a “technology-first country, a crypto and digital asset-first country.” While he doesn’t believe the US dollar requires backing by Bitcoin, he admitted that if a Strategic Bitcoin Reserve were established, “Bitcoin heads to $500,000.” Related Reading: BitMEX Founder Predicts How Bitcoin Goes To $1 Million Under Trump He added: “If it happens in the short term without a Strategic Bitcoin Reserve, it’s going to mean six, seven, eight years,” Novogratz cautioned. “Then it’s just a scramble to get the hot commodity.” He expressed concerns that such a scenario could be indicative of hyperinflation, which historically leads to societal instability. “In every country that experiences hyperinflation, the results are really crappy,” he noted. Discussing Bitcoin’s potential to rival gold as a store of value, Novogratz highlighted a generational shift in investment preferences. “The total market cap of gold is like $16 trillion,” he explained, which translates to approximately $800,000 per BTC if it were to reach parity. “When does Bitcoin become gold?” he asked rhetorically. Novogratz, who is turning 60 next week, admitted he still owns gold, calling himself “an old guy.” However, he pointed out that younger generations are less inclined to invest in gold. “Forty-year-olds own no gold. Thirty-year-olds own none,” he observed. “As we see this generational shift, Bitcoin should match gold within five or ten years, and that gets you to $800,000.” At press time, BTC traded at $93,000. Featured image from YouTube, chart from TradingView.com
On Wednesday afternoon, Bitwise Investment, a prominent asset manager and exchange-traded fund (ETF) issuer, submitted an S-1 form application for a spot Solana ETF to the US Securities and Exchange Commission (SEC) in the state of Delaware. This move positions Bitwise in the race for regulatory approval to launch an index fund that invests in […]
Paul Ryan served as Speaker for the House of Representatives prior to Nancy Pelosi.
According to a Bloomberg report, President-elect Donald Trump’s transition team is considering the establishment of a new White House position dedicated exclusively to crypto policy. This development coincides with growing speculation about the inclusion of pro-crypto leaders in key positions within the new administration, as Trump’s advocacy for digital assets has been evident during his […]
According to recent reports, Howard Lutnick, the CEO of asset management firm Cantor Fitzgerald and a prominent supporter of crypto initiatives, is anticipated to be nominated by President-elect Donald Trump to head the US Department of Commerce (DOC). This nomination comes amidst growing speculation regarding Lutnick’s influence in shaping policies that could significantly impact the […]