Hi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
The three major indices of the United States stock market are showing mixed trends. The Nasdaq Composite Index is trading at 19,563.45 points, down 0.34% from the previous session as of 00:15 on the 22nd. The Dow Jones Index is up 0.48% at 43,698.70 points, and the S&P500 Index is up 0.18% at 6,007.70 points.
Arthur Hayes, co-founder of BitMEX and Chief Investment Officer (CIO) of the Web3 venture capital firm Maelstrom, stated in an interview with CoinDesk on the 20th (local time) that "it seems unlikely that President Donald Trump will adopt Bitcoin (BTC) as a strategic reserve asset," adding, "I don't see how borrowing money to purchase BTC would benefit Trump's policies." He continued, "I hope I'm wrong, but there are various things you can do with borrowed funds," and added, "It doesn't seem like Trump would use borrowed funds to buy BTC." He further noted, "The Trump administration has a limited time to implement policies before the midterm elections, and there are many other tasks that should take precedence in terms of cost and time."
According to the official White House website on the 20th (local time), Trump's second administration has nominated SEC Commissioner Mark Uyeda as the Acting Chairman of the U.S. Securities and Exchange Commission (SEC). Mark Uyeda is known for his pro-crypto stance and has been mentioned as a candidate for the SEC Chairman position.
Analyst Jacob King from the cryptocurrency newsletter WhaleWire stated on the 20th (local time) via X (formerly Twitter) that "Bitcoin (BTC) will plummet below $100,000 as the market realizes that U.S. President Donald Trump's adoption of BTC as a strategic reserve asset and his pro-cryptocurrency policy mentions were merely ploys to gain votes." He continued, "Trump is the furthest from being a pro-cryptocurrency president," emphasizing that "he has labeled BTC a scam dozens of times and is one of the most extreme dollar and gold advocates in history." Meanwhile, BTC is trading at $103,708.73, down 2% from the previous day, in the Binance Tether (USDT) market as of 04:55 on the 21st.
Geoff Kendrick, head of digital asset research at Standard Chartered, stated in an interview with Cointelegraph on the 20th (local time) that "the new Donald Trump administration will not develop a Central Bank Digital Currency (CBDC)," adding that "Trump has been opposed to CBDCs." He continued, "However, instead, stablecoins could see significant growth," and "a stablecoin bill will pass within a few months of Trump's administration starting, and there could be more guarantees for Tether (USDT) and Circle (USDC)."
Eleanor Terrett, a Fox Business reporter, announced on the 20th (local time) via her X (formerly Twitter) that Caroline D. Pham, nominated as the Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), has been confirmed as Acting Chair following a committee vote. Caroline Pham expressed, "I am honored to lead the CFTC. I am pleased to serve the American people at this crucial time," and added, "I will focus on the CFTC's mission to promote markets that support U.S. economic growth and will engage with all stakeholders." Previously, Reuters reported that Donald Trump, the U.S. President, had nominated Caroline Pham as Acting Chair of the CFTC.
Bitcoin (BTC) temporarily recovered the $104,000 mark. Meanwhile, BTC is trading at $104,191, down 0.77% from the previous day as of 02:53 on the 21st, based on the Binance Tether (USDT) market.
Bitcoin (BTC) temporarily dropped below the $102,000 mark. Meanwhile, BTC is trading at $101,583.30, down 2.92% from the previous day, as of 02:40 on the 21st in the Binance Tether (USDT) market.
Bitcoin (BTC) has temporarily surrendered the $104,000 level. Meanwhile, BTC is trading at $103,460.15, down 1.11% from the previous day, as of 02:34 on the 21st in the Binance Tether (USDT) market.
Blockchain data analysis firm Arkham (ARKM) reported on the 20th (local time) via their official X (formerly Twitter) that "as soon as Donald Trump was inaugurated as the 47th President of the United States, an address suspected to be led by the Trump family in the DeFi protocol World Liberty Financial (WLFI) purchased $4.7 million worth of Bitcoin (BTC)."
According to The Block, a cryptocurrency-focused media outlet, on the 20th (local time), billionaire entrepreneur and cryptocurrency advocate Mark Cuban criticized President-elect Donald Trump's issuance of a meme coin via X (formerly Twitter). He stated, "Meme coins are close to fraud targeting people who know nothing about cryptocurrency," and pointed out, "With Trump's issuance of a meme coin, Gary Gensler will laugh, and the new head of the U.S. Securities and Exchange Commission (SEC) will be angry."
According to The Block, a cryptocurrency-focused media outlet, Coinbase's ranking in the US Apple App Store surged ahead of the inauguration of President-elect Donald Trump on the 20th (local time). As of 2 AM on the 21st (Korean time), Coinbase's ranking in the US App Store rose from 193rd at the beginning of the month to 21st. Additionally, the ranking of other cryptocurrency trading apps like Robinhood climbed from 133rd to 103rd. Meanwhile, the Solana (SOL)-based token issuance platform Moon Shot has previously ranked first in the US App Store's finance app category.
According to Reuters on the 20th (local time), U.S. President-elect Donald Trump has nominated Caroline D. Pham, a commissioner of the Commodity Futures Trading Commission (CFTC), as the acting chair. An official announcement has not yet been made. Previously, Caroline D. Pham was mentioned as a candidate for the CFTC chair in December last year and stated, "Under new leadership, we will consider discussing the suspension of regulatory enforcement actions from the Biden era."
On the 20th (local time), President-elect Donald Trump completed his oath and was officially inaugurated as the 47th President of the United States. Meanwhile, Bitcoin (BTC) is trading at $104,523.99, down 0.11% from the previous day, based on the Binance Tether (USDT) market as of 02:17 on the 21st.
Bitcoin (BTC) temporarily dropped below the $106,000 mark. Meanwhile, BTC is trading at $105,705 on Binance Tether (USDT) market as of 00:47 on the 21st, up 0.65% from the previous day.
Matt Hougan, the Chief Investment Officer (CIO) of Bitwise, stated on the 20th (local time) via X (formerly Twitter) that "the prediction that the United States will continuously stockpile Bitcoin (BTC) as a strategic reserve asset has not yet been reflected in the BTC price." Meanwhile, BTC is trading at $106,695.57, up 1.61% from the previous day, as of 00:32 on the 21st, based on the Binance Tether (USDT) market.
Bitcoin (BTC) temporarily dropped below the $107,000 mark. Meanwhile, BTC is trading at $106,607.98, up 1.93% from the previous day, as of 00:19 on the 21st, based on the Binance Tether (USDT) market.
Woominkyu, a contributor at CryptoQuant, analyzed on the 20th (local time) via X (formerly Twitter) that "Ripple whales are expected to realize profits." He explained, "The trading volume of Ripple whales has significantly increased near the simple moving average (SMA) of the last 7 days," and "historically, a surge in activities such as whale deposits to exchanges is interpreted as a signal for profit-taking." Meanwhile, Ripple is trading at $3.3395, up 6.22% from the previous day, based on the Binance Tether (USDT) market as of 00:14 on the 21st.
On the 20th (local time), according to the cryptocurrency specialist media Cointelegraph, the European Securities and Markets Authority (ESMA) has urged virtual asset service providers to take action against stablecoins that do not comply with the European crypto regulation law MiCA by the 31st (local time). Previously, ESMA stated that it would continuously cooperate with national authorities to ensure the smooth implementation of the MiCA law.
The three major indices of the United States stock market closed with gains. The Nasdaq Composite index recorded an increase of 1.51% to 19,630.20 points on the 18th. The Dow Jones index rose by 0.80% to 43,497.67 points, and the S&P 500 index ended trading with a 1% increase to 5,995.90 points.
According to CryptoSlate, a cryptocurrency-focused media outlet, Jacob Wasserburger, a member of the Wyoming House of Representatives, has introduced a bill that would allow the state government to invest in Bitcoin (BTC). The bill aims to allocate up to 3% of the state's public funds to BTC investments. As of the end of November last year, this could mean up to $300 million could be allocated to BTC investments based on the size of Wyoming's funds. Previously, Wyoming Senator Cynthia Lummis had proposed the introduction of a Bitcoin strategic reserve.
On the 17th (local time), according to the cryptocurrency-focused media Watcher Guru, Massachusetts Senator Peter Durant introduced a bill to establish a strategic Bitcoin (BTC) reserve. The bill allows a portion of Massachusetts' $9 billion rainy day fund to be held in BTC, with the state treasurer being responsible for it. Following Wyoming Senator Cynthia Lummis's proposal for a Bitcoin strategic reserve last November, similar bills have been introduced in Texas, Pennsylvania, and Florida. Meanwhile, BTC is trading at $105,544.08, up 5.58% from the previous day, based on the Binance Tether (USDT) market as of 04:41 on the 18th.
According to CoinDesk, a cryptocurrency-focused media outlet, on the 17th (local time), John Glover, Chief Investment Officer (CIO) of the cryptocurrency lending platform Ledn, analyzed that "the technical outlook for Bitcoin (BTC) is very positive." He explained, "Based on an analysis of the Elliott Wave Theory, BTC could reach $128,000 in the coming months following a 5-wave pattern," adding that "the key is to surpass the all-time high of $108,000, and the likelihood of falling to the recent low of $90,000 is slim." The Elliott Wave Theory is a theory that consists of 5 upward waves and 3 downward waves in a cycle. Meanwhile, as of 04:41 on the 18th, BTC is trading at $105,544.08, up 5.58% from the previous day, based on the Binance Tether (USDT) market.
Dan Tapiero, founder of the digital asset ecosystem specialist investment fund 10T Holdings, analyzed in an interview with Cointelegraph on the 17th (local time) that "the most explosive phase of the cryptocurrency bull market will appear this year." He emphasized, "The total market capitalization of cryptocurrencies will increase from the current $3.6 trillion to $10 trillion," and "the cryptocurrency policies of U.S. President-elect Donald Trump and the newly established Department of Government Efficiency (DOGE) will have a positive impact on the cryptocurrency market."
Bitcoin (BTC) temporarily recovered the $105,000 mark. Meanwhile, BTC is trading at $105,161.97, up 5.57% from the previous day, as of 02:27 on the 18th in the Binance Tether (USDT) market.
On the 17th (local time), according to the virtual asset (cryptocurrency) market insight platform Unfolded, the United States Securities and Exchange Commission (SEC) has sued Digital Currency Group (DCG) and former Genesis CEO Michael Moro for misleading investors.
According to Watcher Guru, a cryptocurrency-focused media outlet, Phillip Chen, a member of the California State Assembly, is set to propose legislation favorable to Bitcoin (BTC) on the 17th (local time). Phillip Chen is collaborating with the nonprofit organization 'Proof of Workforce' to advance various Bitcoin initiatives. Meanwhile, BTC is trading at $104,741.94, up 5.43% from the previous day, based on the Binance Tether (USDT) market as of 01:46 on the 18th.
According to The Block, a cryptocurrency-focused media outlet, on the 17th (local time), Ju Ki-young, CEO of CryptoQuant, stated, "Recently, the inflow of USD into Coinbase Prime is increasing," indicating "this means that institutional investors are increasing their OTC (over-the-counter) Bitcoin (BTC) transactions." He further analyzed, "Many institutions in the United States prefer to accumulate BTC through Coinbase Prime's OTC trading." Meanwhile, BTC is trading at $104,595.92, up 4.87% from the previous day, based on the Binance Tether (USDT) market as of 01:31 on the 18th.
Cryptocurrency analyst and trader Ali Martinez reported on the 17th (local time) via X (formerly Twitter) that "Bitcoin (BTC) is breaking out of the cup and handle pattern and is heading towards a potential target price of $276,400." The cup and handle pattern is a bullish pattern that signals the continuation of an upward trend. Meanwhile, BTC is trading at $105,544.08 on the Binance Tether (USDT) market as of 04:41 on the 18th, up 5.58% from the previous day.
According to the cryptocurrency-focused media Decrypt on the 17th (local time), the Indian exchange WazirX, which suffered a $235 million hacking loss last July, announced that it has frozen $3 million worth of Tether (USDT) that was stolen. WazirX stated, "We are working to track and recover the stolen assets," and "In this process, we have frozen $3 million worth of USDT." Previously, WazirX's parent company Zettai applied for a moratorium (debt repayment suspension) with the Singapore High Court last August following the hacking and proposed restructuring.