US crypto stocks close down as industry still awaiting Trump action
The US crypto market experienced a dip on January 21st as investors eagerly awaited President Donald Trump’s actions towards the industry. Despite his previous promises to support and promote the growth of cryptocurrencies, Trump has yet to take any concrete steps towards this goal.
This lack of action from the President has caused uncertainty and concern among crypto investors, leading to a decline in stock prices across the board. The market saw a downward trend as investors anxiously awaited any news or updates from the White House.
The crypto community had high hopes for Trump’s administration, as he had previously expressed interest in the potential of digital currencies and blockchain technology. However, with only a few days left in his term, it seems unlikely that any significant progress will be made in terms of crypto regulation or adoption.
This delay in action from the government has left many wondering about the future of cryptocurrencies in the US. Will the new administration under President Joe Biden continue to support the industry, or will there be a shift in policies and regulations?
Despite the uncertainty, many experts believe that the long-term outlook for cryptocurrencies remains positive. The recent dip in stock prices may be a temporary setback, but the underlying technology and potential for growth are still strong.
In the meantime, crypto investors will have to wait and see how the new administration approaches the industry. Will they embrace and support it, or will they impose stricter regulations? Only time will tell, but one thing is for sure – the US crypto market will continue to be a hot topic in the coming months.
Trump pardons Silk Road creator Ross Ulbricht
In a move that has sparked both controversy and celebration, US President Donald Trump has granted a full pardon to Ross Ulbricht, the infamous founder of the Silk Road online drug marketplace. Ulbricht, who has been serving a life sentence without parole since 2015, was convicted of multiple charges including money laundering, computer hacking, and conspiracy to traffic narcotics.
The Silk Road, which operated on the dark web, was a notorious platform for buying and selling illegal drugs, weapons, and other illicit goods. Ulbricht, who went by the pseudonym “Dread Pirate Roberts,” created the site in 2011 and quickly gained notoriety for its anonymity and ease of access. However, after a lengthy investigation by the FBI, Ulbricht was arrested in 2013 and the site was shut down.
Since then, Ulbricht’s case has been a hot topic of debate, with many arguing that his sentence was too harsh and that he was unfairly targeted as a scapegoat for the Silk Road’s illegal activities. Supporters have also pointed out that Ulbricht’s sentence was much longer than those given to other Silk Road employees and vendors.
Trump’s decision to pardon Ulbricht has been met with mixed reactions. Some see it as a long-awaited act of justice, while others view it as a dangerous precedent for pardoning individuals involved in illegal activities. However, it is worth noting that Trump has previously expressed sympathy for Ulbricht’s case, stating in a 2018 interview that he was “looking at it very strongly.”
Regardless of one’s stance on the matter, Ulbricht’s pardon marks a significant moment in the ongoing debate over the Silk Road and the role of the dark web in facilitating illegal activities. It also raises questions about the power and discretion of presidential pardons, and the potential implications for future cases involving similar circumstances.
As for Ulbricht himself, he has expressed gratitude for the pardon and has vowed to use his freedom to continue advocating for criminal justice reform. Only time will tell what the future holds for the man once known as the “Dread Pirate Roberts.”
Bitcoin holds above $106K as traders bite nails over the absence of Trump crypto executive order
The price of Bitcoin has once again surged above $106,000, marking a significant rebound after a recent dip. This rise in value can be attributed to a combination of factors, including a cooling US Dollar Index and a positive response to President Trump’s pro-America agenda.
After a period of volatility and uncertainty, Bitcoin has shown its resilience by bouncing back and reclaiming its position above the $106,000 mark. This is a promising sign for investors and enthusiasts alike, as it demonstrates the continued strength and potential of the world’s leading cryptocurrency.
One of the key factors contributing to this recent surge is the weakening of the US Dollar Index. As the value of the dollar decreases, investors often turn to alternative assets such as Bitcoin, which can offer a more stable and potentially lucrative investment opportunity. This trend is further amplified by the current political climate, with President Trump’s pro-America agenda garnering positive reactions from the market.
In addition to these external factors, Bitcoin’s inherent qualities also play a significant role in its value. With a limited supply and a decentralized nature, Bitcoin is not subject to the same fluctuations and manipulations as traditional currencies. This makes it an attractive option for those seeking a more secure and independent form of currency.
As the world continues to navigate through uncertain times, Bitcoin’s resilience and potential for growth make it a valuable asset to consider. With its recent bounce back above $106,000, Bitcoin is once again proving its worth as a leading player in the world of finance and technology. Whether you are a seasoned investor or simply curious about the world of cryptocurrency, keeping an eye on Bitcoin’s movements is sure to be an exciting and informative experience.
Ethereum Foundation infighting and drop in DApp volumes put cloud over ETH price
The world of cryptocurrency has been buzzing with activity lately, and two major players have been making headlines for very different reasons. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has been experiencing a slowdown in its price momentum. This comes at a time when the Ethereum Foundation, the organization responsible for the development and promotion of the Ethereum platform, is facing leadership disputes.
On the other hand, Solana, a relatively new player in the cryptocurrency market, has been gaining traction and expanding its market share in the decentralized application (DApp) space. This has raised questions about whether Solana could potentially challenge Ethereum’s dominance in the DApp market.
ETH’s price momentum has been a topic of concern for many investors and traders. After reaching an all-time high of over $4,000 in May, ETH’s price has been on a downward trend, currently hovering around $2,500. This slowdown in price momentum has been attributed to the ongoing leadership disputes at the Ethereum Foundation.
The Ethereum Foundation is responsible for managing the development of the Ethereum platform and promoting its adoption. However, recent disagreements among its leadership have caused delays in important decisions and updates, leading to uncertainty and a lack of confidence in the platform.
Meanwhile, Solana has been making waves in the cryptocurrency world with its fast and scalable blockchain technology. This has resulted in a surge in the number of DApps being built on the Solana platform, with some even migrating from Ethereum. This has raised questions about whether Solana could potentially challenge Ethereum’s dominance in the DApp market.
As the cryptocurrency market continues to evolve and new players emerge, it will be interesting to see how Ethereum and Solana’s relationship unfolds. Will Ethereum be able to resolve its leadership disputes and regain its momentum, or will Solana continue to gain ground and potentially challenge Ethereum’s dominance in the DApp market? Only time will tell.
Crypto.com to launch US institutional crypto investing platform
The crypto industry has been gaining significant traction in recent years, and one company that has been making waves in the market is the Singapore-based crypto conglomerate. With its expansion into the US market, the company has been making headlines since Donald Trump’s presidential victory.
The company’s success can be attributed to its innovative approach to the crypto market, as well as its strategic expansion plans. By establishing a strong presence in the US, the company is tapping into one of the largest and most influential markets in the world.
But what exactly is this crypto conglomerate all about? Well, for starters, it offers a wide range of services and products related to the crypto industry. From trading platforms to digital wallets, the company has it all. And with its expansion into the US market, it is set to bring its cutting-edge technology and services to a whole new audience.
But why the sudden interest in the US market? The answer lies in the country’s growing acceptance and adoption of cryptocurrencies. With more and more businesses and individuals embracing digital currencies, the US market presents a huge opportunity for the crypto conglomerate to establish itself as a leader in the industry.
Moreover, the company’s expansion into the US market is a strategic move to diversify its operations and reduce its reliance on the Asian market. This not only helps to mitigate risks but also allows the company to tap into different markets and cater to a wider range of customers.
In conclusion, the Singapore-based crypto conglomerate’s expansion into the US market is a testament to its success and ambition. With its innovative approach and strategic expansion plans, the company is set to make a significant impact in the US crypto market and solidify its position as a global leader in the industry. So keep an eye out for this company, as it continues to make waves in the ever-evolving world of cryptocurrencies.
Circle acquires Hashnote, USYC onchain money fund
The recent merger between the creators of the second-largest stablecoin and the largest onchain money fund has sent shockwaves through the cryptocurrency world. This groundbreaking deal brings together two major players in the industry, promising to revolutionize the way we think about stablecoins and onchain money funds.
The two companies involved in this merger are none other than the issuers of the popular USDT stablecoin and the leading onchain money fund, Tether and Reserve, respectively. Tether, with a market cap of over $60 billion, has long been a dominant force in the stablecoin market, providing a reliable and widely used digital asset pegged to the US dollar. On the other hand, Reserve has gained recognition for its innovative approach to onchain money funds, offering a decentralized and secure platform for users to store and transfer their funds.
By joining forces, Tether and Reserve aim to create a powerhouse in the world of stablecoins and onchain money funds. This merger will not only strengthen their position in the market but also bring about new and exciting opportunities for their users. With Tether’s vast network and Reserve’s cutting-edge technology, the possibilities are endless.
One of the most significant benefits of this merger is the potential for increased stability and security. As both companies have a strong track record of providing reliable and secure services, users can rest assured that their funds are in safe hands. Additionally, the combined resources and expertise of Tether and Reserve will allow for faster and more efficient transactions, benefiting both individuals and businesses alike.
The cryptocurrency community is buzzing with anticipation for the future of this partnership. With the potential to reshape the stablecoin and onchain money fund landscape, this merger is undoubtedly a game-changer. As we eagerly await the developments and innovations that will come from this collaboration, one thing is for sure: the future of stablecoins and onchain money funds has never looked brighter.
Trading Bitcoin can be tricky — Here’s 3 key macroeconomic indicators worth following
Investing in Bitcoin can be a rollercoaster ride, with its volatile nature causing many investors to feel anxious and uncertain. The constant fluctuations in price can make it challenging to know when to buy and when to sell, leaving many investors feeling overwhelmed and unsure of their next move. However, a new tool from Cane Island Digital may provide some much-needed guidance and ease the process for investors.
The BTC macro cheat sheet, created by Cane Island Digital, is a comprehensive guide that outlines key indicators and trends in the Bitcoin market. This cheat sheet is designed to help investors make informed decisions about when to buy and sell Bitcoin, taking some of the guesswork out of the process.
One of the most significant benefits of the BTC macro cheat sheet is its ability to provide a macro-level view of the Bitcoin market. This means that it takes into account larger trends and patterns, rather than just focusing on short-term fluctuations. By looking at the bigger picture, investors can gain a better understanding of the overall market and make more strategic decisions.
The cheat sheet also includes a variety of indicators, such as the Bitcoin Fear and Greed Index, which measures the sentiment of the market, and the Bitcoin Network Momentum, which tracks the growth of the Bitcoin network. These indicators can help investors gauge the health of the market and make more informed decisions about when to buy and sell.
In addition to providing valuable insights and indicators, the BTC macro cheat sheet is also user-friendly and easy to understand. It is presented in a visually appealing format, making it accessible to both experienced investors and those new to the world of Bitcoin.
Overall, the BTC macro cheat sheet from Cane Island Digital is a valuable tool for investors looking to navigate the Bitcoin market with more confidence and ease. By providing a macro-level view and key indicators, this cheat sheet can help investors make more informed decisions about when to buy and sell Bitcoin, ultimately leading to more successful investments.
Coinbase CEO: Future stablecoin regs likely to demand full US Treasury backing
Brian Armstrong said his cryptocurrency exchange would delist USDt if Tether cannot comply with any new US legislation.