Under Atkins’ leadership, the U.S. Securities and Exchange Commission (SEC) has undergone a near-complete reversal of the way it regulates crypto.
On decentralized prediction markets platform Polymarket, Waller currently has a 15% chance of being nominated as the next chair.
The influential Democrat is the most vocal critic of the crypto legislation, and she continues to throw rhetorical sand in the gears of the negotiation.
Williams has helped cement crypto gains in Congress alongside White House allies.
Hougan also expects bitcoin to show lower volatility and falling correlation with stocks, creating a favorable "trifecta" for investors.
Rodriguez was sentenced to five years for operating a crypto mixing service that helped launder millions of dollars in criminal proceeds.
The Tornado Cash developer’s trial this summer is evidence that the crypto industry is still severely lacking regulatory clarity.
While legislative language circulates among all four corners of the talks — industry, White House, Republicans and Democrats — the process is still mid-stride.
Zhao’s exit from Binance did little to dim his prominence.
In what are likely her final days at the agency, the acting chairman checked another box from President Donald Trump's crypto agenda.
The Office of the Comptroller of the Currency probed debanking of certain industries, including digital assets, and said it'll pursue any repeat of such activity.
The prospect of a “Trump Fed takeover” is rapidly becoming a central macro theme for 2026, with some traders arguing that markets still underestimate how radical the shift could be for global liquidity – and by extension for crypto. Macro commentator plur daddy (@plur_daddy) describes it bluntly via X: “The Trump Fed takeover being underpriced is my primary theme going into 2026 (hence my gold bet). This is a momentous shift: the bigger and more convex the catalyst, the more difficult it is for markets to price it in properly.” Former Fed trader Joseph Wang known as “Fed Guy” echoes the concern from inside the plumbing, warning: “The market underestimates the likelihood of a Trump Fed. The Administration is showing resourcefulness and determination for lower rates. That could set off the blow off top in equities, where implied vol shows speculation still has room to run.” The Trump Fed Takeover Isn’t Price In That determination is colliding with a bond market that appears to be pushing back via term premium. Plur highlights the spread between the 12-month T-bill and the 10-year Treasury as a clean gauge of that tension. He notes that the spread “peaked right before inauguration on the generic ‘Trump will run it hot’ viewpoint,” then “got crushed lower as DOGE and Tariffs got priced in.” It bottomed near the tariff lows and “is now back to the highs,” a pattern he reads as term-premium expansion as “a form of protest to [Kevin] Hassett,” Trump’s presumed Fed pick. Related Reading: Italy’s Market Watchdog Gives Crypto Firms A Clear Order: Act Or Exit Against that backdrop, the administration still has powerful tools to compress term premium without formally announcing quantitative easing. Plur identifies three levers. First, de-regulating banks so they are allowed – in practice, pressured – to hold more Treasuries, boosting structural demand for government paper. Second, reducing the Treasury’s weighted-average maturity by shifting issuance “to bills over longer dated notes,” which cuts the duration the market has to absorb. Third, specifically for mortgages, “lever up the GSEs to buy MBS,” narrowing mortgage spreads and transmitting easier policy to the housing market even if the policy rate moves more slowly. He argues that “all of these are quite bullish for risk overall but will take time to play out.” For now, the environment remains awkward for directional risk bets, including crypto. “In the meantime, it has been a choppy and difficult market, across the board. Equity indices have grinded higher but the underlying rotations have been tricky to navigate. QT ended but liquidity is still relatively thin, and the fact that we are going into year end does not help. Better times will come.” The bullish pivot in his framework arrives with the calendar. “In the new year, fiscal accommodation will re-expand on the implementation of OBBBA (+$10–15bn/mo). Meanwhile we have sell-side macro teams calling for $20–45bn/mo in T-bill repurchasing by the Fed, as soon as Jan 1.” Related Reading: 75% Chance Crypto Is ‘Crossing The Chasm’ Now, Says Moonrock Capital Boss This mix would directly ease pressures visible in funding markets: “This would go a long way towards easing the current liquidity issues (see the SOFR–IORB spread chart below). This is not classic QE in that there is very little duration being absorbed from the private sector, and mainly has the effect of expanding bank reserves. This is still bullish because bank reserves are tight at the time, which is tied to the repo liquidity issues.” Will The Crypto Market Rise Again? On that basis, Plur expects the macro backdrop in 2026 to look “better than H2 ’25 has been, perhaps more on par with parts of 2024.” His expression of the trade is clear: “This should be enough for strong performance on gold given the Fed takeover angle, and continued melt-up in equities and select commodities.” For Bitcoin and the broader crypto market, however, his stance is notably more cautious. “For BTC it is more difficult to say. My base case continues to be a frustrating period of chop and re-accumulation.” Improved liquidity “should be favorable for BTC,” but he questions whether there will be “a material shift in the supply/demand imbalances we have been seeing,” concluding: “I will keep watching it for now.” In other words, the Trump Fed trade is already driving high-convexity bets in gold, equities and commodities. Crypto stands to benefit indirectly from easier reserves and lower term premium, but in this framework, the key constraint is no longer just macro liquidity – it is whether fresh demand is strong enough to meet an increasingly inelastic supply in the crypto market. At press time, the total crypto market cap stood at $3.05 trillion. Featured image created with DALL.E, chart from TradingView.com
The sons of U.S. President Donald Trump have capitalized on their family name and crypto’s political momentum, carving out a profitable niche for themselves in the booming industry.
Without the turnaround of Donald Trump on crypto, the road toward a U.S. governmental embrace of the new technology would likely have been a steeper climb.
The White House's new National Security Strategy emphasizes increased global fiscal expansion and military spending.
President Donald Trump's push toward friendly crypto policies produced a CFTC-led effort to encourage leveraged spot crypto trading, starting with Bitnomial.
The Senate's process is inching forward on a mass-confirmation that would include two nominations with major crypto implications.
For now, Jack Mallers decided to not comment any further and JPMorgan declined to explain why it debanked the CEO of a company very similar to newly launched JPM Coin.
Sacks' legal team claimed the outlet ignored ethics guidance and relied on debunked allegations to sustain a predetermined narrative.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Democratic staff on the House Judiciary Committee gathered data on President Donald Trump's crypto businesses that reportedly gained his family massive wealth.
Kevin Hassett is at the top of the leaderboard to become the next Fed Chair, according to reporting from Bloomberg.
The recent downturn in the crypto market, which saw total valuations plummet from an all-time high of nearly $4.3 trillion to below the $3 trillion mark, has severely impacted many investors. Among those affected is the Trump family, whose wealth reportedly decreased by $1 billion over the past month, according to Bloomberg. Their current net worth now stands at approximately $6.7 billion, down from $7.7 billion in September. Trump Family’s Crypto Portfolio Takes Major Hits The family’s crypto portfolio has suffered significant losses as a result of recent market conditions, including President Trump’s official memecoin, TRUMP, Eric Trump’s Bitcoin (BTC) mining firm, American Bitcoin (ABTC), and Truth Social—all of which are Bitcoin-related. Related Reading: XRP Real Purpose: Documentation Shows Payment Utility Contrary To Viral Claims — Details One of the hardest-hit entities is Trump Media & Technology Group (TMTG), the parent company of Truth Social. Last week, shares of the firm dropped to a record low, resulting in an estimated $800 million decline in Trump’s stake since September. The company has invested heavily in Bitcoin, spending roughly $2 billion on digital assets. Its stockpile of approximately 11,500 BTC, purchased when Bitcoin prices hovered around $115,000, now represents a significant downturn of about 25%. In addition, World Liberty Financial (WLFI), regarded as the Trump family’s principal crypto operation, has seen its value diminish rapidly. WLFI, which was once trading at $0.26, has now fallen to around $0.15 when writing. At its peak, the token’s total valuation reached about $6 billion, but it is now worth just over $4 billion. Despite the difficulties, a spokesperson for World Liberty Financial expressed optimism, stating that “Crypto is here to stay.” The spokesperson emphasized a long-term conviction in the technologies that support digital assets, suggesting that these innovations could transform financial services. Eric Trump Remains Optimistic Following his return to office in January, President Trump’s sons, Eric Trump and Donald Trump Jr., also began collaborating with Hut 8 Corp, a crypto company that supplies Bitcoin mining equipment. In exchange, they secured a controlling interest in a newly formed organization called American Bitcoin Corp. Eric Trump reportedly holds about 7.5% of this new venture. Related Reading: Attack On Cardano Founder Leads To Network Halt, What Really Happened? However, shares of Hut 8, which are traded on Nasdaq, have been cut by nearly half, wiping out over $300 million from Eric Trump’s wealth since September, with shares previously valued at $9.31. Amidst these financial challenges, Eric Trump conveyed a sense of optimism, suggesting that the recent market declines may present “a great buying opportunity.” He emphasized that those who purchase during downturns and embrace market volatility are likely to be the long-term winners in the cryptocurrency landscape. Currently, the market’s leading cryptocurrency has seen a 1.5% recovery on Monday toward $88,430, after reaching an 8-month low of $80,000 last Friday. This positions BTC nearly 30% below all-time highs of $126,000 reached back in October. Featured image from DALL-E, chart from TradingView.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Industry groups signed a letter to President Donald Trump calling for new tax policy and agency action on initiatives apart from Congress' market structure work.
The day after his confirmation hearing, the Senate Agriculture Committee followed up with a quick vote to advance Mike Selig to the overall Senate for a final vote.
Mike Selig, the nominee to be the next chairman of the Commodity Futures Trading Commission, testified at his confirmation hearing in the Senate.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The Senate Banking Committee voted along party lines to send FDIC Acting Chair Travis Hill's nomination to the wider Senate for a final vote on taking the permanent job.
Dar Global is seeking to tokenize up to 70% of the development of its Trump hotel in the Maldives, Reuters reported.