This week, CoinDesk ramped up its reporting significantly, as the cryptocurrency sector geared up for a fresh presidential term and a regulatory climate that seems favorable.
Key points: Senior expert James Van Straten noted an increasing trend of businesses purchasing bitcoin for their financial records, emulating the strategy previously established by MicroStrategy’s founder, Michael Saylor.
Market correspondent Krisztian Sandor tracked the surge in prices for Solana (SOL), Ripple (XRP) and Hedera (HBAR), as speculation grew that former President Trump could endorse a U.S.-centric “crypto reserve” to supplement a government-held Bitcoin investment.
Omkar Godbole, Co-Managing Editor at Markets, explored the reason behind bitcoin’s ongoing price dip. However, he emphasized that this recent market downturn will not impede the long-term acceptance of bitcoin by institutions.
In a recent interview, Norman Reed, the newly appointed head of Binance.US, disclosed that Securities and Exchange Commission (SEC) authorities attempted to disrupt Binance.US’s banking connections during their 2022 inquiry regarding the exchange. Ian Allison, a seasoned journalist, was able to connect with Mr. Reed for this discussion.
Investigative journalist Sam Reynolds delved into the efforts made by regulators across multiple nations to prohibit Polymarket, as prediction markets grapple with gambling regulations. Meanwhile, it’s noteworthy that Kalshi secured Donald Trump Jr. as an advisor, suggesting that the U.S. could potentially serve as a secure haven for crypto-based companies in the future.
In anticipation of a busy period for mergers and acquisitions, Ctrl Wallet, a self-custody wallet, has announced that it’s available for purchase, according to Allison’s report.
In the coming years, it’s anticipated that crypto ETF trading volumes will significantly increase, especially after their major introduction in 2024. According to Tom Carreras, a respected reporter, Litecoin, an early version of Bitcoin, is expected to receive official approval for ETF trading next.
As a researcher, I’m sharing an insightful point from Helene Braun’s analysis. If a Litecoin Exchange Traded Fund (ETF) manages to capture investor attention similar to how Bitcoin did last year, we might see approximately $580 million flowing into it.
According to Deputy Managing Editor Jesse Hamilton’s report, the Trump administration has prioritized addressing the challenges related to cryptocurrencies being denied banking services as one of their top priorities on the regulatory side.
As an engaged crypto investor, I’m keeping tabs on the ongoing changes within regulatory bodies like the SEC and CFTC. It seems that anti-crypto officials are being replaced, paving the way for new administrators who may be more open to the crypto space to join in the near future, as Hamilton mentioned.
As the weekend draws near, the crypto community is gearing up to attend a string of inauguration celebrations and galas in Washington D.C. instead.
CoinDesk will have full live coverage on Monday, so stay tuned.
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2025-01-17 19:48