Cryptocurrencies surged this week amid improving regulations and investor reactions to tariff news. Trump’s business ventures also expanded their crypto involvement.
Since last Friday, Dogecoin (DOGE) and Shiba Inu (SHIB) rose 15.5% and 14%, while Sui (SUI) jumped over 20%.
Regulatory Tailwinds
Trump continues to support the crypto sector, surrounding himself with crypto advocates and issuing an executive order to create a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
The SEC dropped another crypto investigation, this time against Australian gaming platform Immutable. The regulator has also halted cases against Coinbase, Robinhood, Kraken, and Ripple, signaling a more relaxed approach.
Congress voted to repeal a crypto tax provision, which would have required decentralized platforms to report user transactions like traditional securities brokers. Trump is expected to sign this repeal into law.
Meanwhile, Trump Media & Technology Group announced a partnership with Crypto.com to launch spot crypto ETFs, with Crypto.com providing custodial services and backend tech.
Company-Specific News
Elon Musk, a Dogecoin supporter, posted a meme featuring himself holding a Shiba Inu dog, fueling interest in Dogecoin.
Shiba Inu confirmed the launch of Shib Finance, a new lending and borrowing platform to enhance its utility. Sui continued to rally after Canary Capital applied to launch a Sui-based spot ETF.
Crypto’s Uncertain Outlook
While crypto remains strong since Trump’s November election victory, tariff concerns add uncertainty. Despite positive momentum, the long-term outlook remains unclear. Some investors prefer Bitcoin and Ethereum over speculative tokens like Dogecoin, Shiba Inu, and Sui.