Bitcoin Price Surge: Bitcoin$BTC has climbed above $95,000, marking its strongest weekly gain since Donald Trump’s election win, driven by $2.7 billion in ETF inflows. Other cryptocurrencies like Ethereum $ETH (hovering over $1,800), Sui, Bitcoin Cash, and Hedera’s HBAR also saw gains. Analysts suggest this rally could push Bitcoin to new record highs.
Regulatory Shifts in the U.S.: The Trump administration is fostering a crypto-friendly environment. The Federal Reserve recently rescinded guidance cautioning banks against crypto activities, and U.S. banking regulators are pulling back on restrictive documents. SEC Chair Paul Atkins has criticized past regulatory uncertainty for stifling crypto innovation and is pushing for clearer regulations.
SoFi Re-enters Crypto: Fintech bank SoFi plans to bring back cryptocurrency investing in 2025, citing a “fundamental shift” in the regulatory landscape under Trump. The bank aims to integrate crypto and blockchain capabilities across its products.
Crypto Firms Eye Banking Licenses: Companies like Circle, BitGo, Coinbase, and Paxos are exploring U.S. bank licenses as the Trump administration loosens restrictions, signaling a convergence of crypto and traditional banking. Some banks are also considering issuing their own digital assets.
Trump’s Crypto Ventures: World Liberty Financial, a crypto firm tied to Trump and his sons, is gaining attention for blurring lines between private enterprise and government policy. Trump’s personal meme coin, $TRUMP, has a market cap of about $2.7 billion.
