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Summary ⚈ The crypto market lost $520 billion during Trump’s first 100 days in office. ⚈ Bitcoin millionaires declined by nearly 20,000 amid market downturn and project failures. ⚈ Despite earlier losses, recovery signs are emerging as Bitcoin decouples from equities. President Donald Trump’s first 100 days in office haven’t exactly been a boon for the cryptocurrency market — at least not to the tune that it was expected. While the Republican firebrand’s second tenure in the White House has brought a host of positive changes, chiefly concerning regulations, the fallout from Trump’s tariff policies has caused a shift away from speculative assets — and cryptocurrencies absorbed their share of the fallout. To be exact, data retrieved by Finbold from CoinMarketCap shows that, at the time of Trump’s second inauguration, on January 20, the total cryptocurrency market capitalization stood at $3.49 trillion.  On April 29th, the 100th day of Trump’s second presidency...

1. President Trump Signs Executive Order to Establish Strategic Bitcoin Reserve link David Sacks, the “Crypto Tsar” and the White House’s AI and Crypto Affairs Chief in the United States, tweeted that Trump has signed an executive order to establish a strategic Bitcoin reserve. The funds for this reserve come from the bitcoins obtained by the federal government through criminal or civil asset forfeiture procedures, without involving taxpayers’ money. These bitcoins will be used as a store of value and will not be sold. In addition, the executive order also establishes a US digital asset reserve for holding confiscated digital assets other than bitcoin, but will not acquire any new assets. This reserve will be managed by the US Department of the Treasury. Fox reporter Eleanor Terrett has conducted an in-depth Analysis of Trump’s establishment of strategic Bitcoin and digital asset reserves. The strategic reserve contains only BTC, with the initial funds coming from approximately 200,00...

Tether, the issuer of the leading stablecoin USDT and one of the largest Bitcoin (BTC) holders, could now be forced to dump part of its BTC reserves, according to JPMorgan analysts. This raises questions on potential market impacts for both Bitcoin and USDT in 2025. As The Block reported this morning, JPMorgan analysts are looking to Tether’s reserves and the recently introduced U.S. bills, regulating stablecoins in the country. According to estimations, only 66% and 83% of the issuer’s reserves comply to each proposed bill at its current state. Percentage of Tether’s reserves compliant with the STABLE and GENIUS Acts. Source: J.P. Morgan / The Block Currently, Tether holds around $8 billion worth of 83,758 BTC in its reserves. This represents approximately 5% of all the $142 billion circulating USDT, which the company claims is 1:1 reserves-backed. Picks for you ...

2024 was a landmark year for the cryptocurrency market. It was a year when the market matured, barriers to the institutional investing world came down, and international regulations started to pave the way for digital currencies to enter the mainstream global financial system.  With a President-elect keen on making the US a global crypto hub, the market experienced significant growth. As crypto adoption rose, more users turned to crypto platforms and ETFs to invest. 2024 was a transformative experience for the crypto market and the blockchain technology that powers it.  The general public, buoyed by positive sentiment and rising crypto prices, has flocked to DeFi platforms to download their first wallet. Many of those new users have found their way to the highly trusted crypto brand Binance. It takes a leader to help an industry continue to mature and Binance CEO Richard Teng has taken on that role throughout 2024’s massive growth. Teng comment...

Title sponsored by Bitdeer, a NASDAQ-listed mining company. 1. Bitdeer announced the issuance of $360 million of convertible senior notes to qualified institutional buyers, which will be the company’s general, senior unsecured debt, with an interest rate of 5.25% per annum and a maturity date of 2029. The initial conversion rate of the notes will be 62.7126 Class A ordinary shares per US$1,000 principal amount of such notes (equivalent to an initial conversion price of approximately US$15.95 per Class A ordinary share). The sale of the notes is expected to close on November 26, 2024. A portion of the net proceeds will be allocated to data center expansion, the development and manufacturing of ASIC-based mining equipment, working capital, and other general corporate purposes. Read more 2. Bitcoin mining colocation and cloud servicing firm Applied Digital is poised to raise $375 million through a private offering of convertible notes. The convertible notes feature an interest rate of 2.7...

Ripple CEO Brad Garlinghouse has shaken up the crypto world. He recently spoke about a possible yen-based stablecoin. This news comes as Ripple gets ready to launch its own USD-pegged stablecoin. These moves show Ripple’s growing impact on digital currencies and stablecoin adoption. Also Read: Digital Ruble Pilot Expands as Moscow Exchange Exits Crypto Garlinghouse’s Bold Statement on Yen Stablecoin Outpacing the US Dollar Garlinghouse hinted at a Japanese yen stablecoin in a recent interview. He praised Japan’s clear crypto rules. “I have met with regulators, FSA and elected representatives and have heard this desire to lean into these nascent technologies consistently. I think the environment from a macro perspective is very pro-innovation,” Garlinghouse stated. Japan’s Favorable Regulatory Environment Japan’s approach to crypto rules has impressed Garlinghouse. The country offers a clear framework. It’s tech-friendly but also careful....

Bitcoin surged over 5% on Friday, August 23, 2024, following Federal Reserve Chair Jerome Powell’s recent comments. The Fed’s hints at potential interest rate cuts have reignited the crypto market and discussions about crypto regulations. Also Read: BRICS: Payments in Chinese Yuan Surpasses the US Dollar by 2.5% Fed’s Rate Cut Hints Spark Bitcoin Surge Amid Regulatory Uncertainty Source: Canva Powell’s Jackson Hole Speech: A Catalyst for Crypto Investors watched Powell’s address at the Jackson Hole Economic Symposium closely. He expressed confidence in managing inflation, which had peaked in 2022. The Fed’s remarks about possible rate cuts starting September 2024 were received positively by the crypto market. Market Response: Bitcoin and Altcoins Rally After Powell’s speech, Bitcoin’s value increased by 5.59%, reaching $63,720. Other cryptocurrencies also gained. Ethereum rose 2.9% to $2,685. Solana went up by 2.4%, while Polkadot increase...

The U.K. introduced regulation that enables the Financial Conduct Authority and the Bank of England to oversee a digital securities sandbox for testing tokenized securities and distributed ledger technology. Effective Jan. 8, this initiative allows the Financial Conduct Authority (FCA) and the Bank of England to oversee a controlled testing environment for tokenized securities. The sandbox concept permits companies to experiment with innovative financial solutions under regulatory supervision. The digital securities sandbox (DSS) focus extends beyond tokenized securities, encompassing the exploration of distributed ledger technology to digitize traditional securities. With global financial institutions increasingly embracing asset tokenization, U.K. regulators are taking proactive measures to comprehend and regulate this evolving landscape. Firms participating in the DSS will be subject to tailored regulations if existing ones impede progress, as outlined in the accompanying ...

Japan eyes support for crypto startups in new regulation on startup financing. According to reports, the new rules means startups can raise funds from investors by offering stocks and crypto. Japan is looking to relax restrictions on how startups raise funds with a view to revamping the sector amid growth in venture capital funding. According to a report from local outlet Nikkei, the government plans to have startup s access financing from VCs by offering crypto . As such, the new regulation will allow investors to receive traditional stocks as well as crypto when extending funding to startup s. Blockchain reporter Colin Wu shared the news via X. According to nikkei, the Japanese government will relax regulations on startup financing. When start-ups receive financial support from investment funds, they can choose to deliver crypto assets instead of just stocks. The new rules apply to funds investing in limited… — Wu Blockchain (@WuBlockcha...