Crypto Firms Contribute to Trump’s Inauguration Fund: New filings from the Federal Election Commission (FEC) reveal that several cryptocurrency firms and their executives made significant donations to US President Donald Trump’s inauguration fund following the 2024 election results. This highlights the growing influence of the crypto industry in U.S. politics.
Bitcoin Surpasses $88,000, Industry Bullish: Bitcoin crossed the $88,000 mark today, trading at $88,142.63, up 0.72% in the last 24 hours. Experts are optimistic, with CoinDCX Research noting bullish technical indicators. They predict a potential rally to $92,000–$94,000 if Bitcoin breaks the $88,800 resistance. The global crypto market cap is at $2.74 trillion, down 0.30% in the past 24 hours.
SEC Leadership Change Sparks Optimism: Paul Atkins has replaced Gary Gensler as SEC Chairman, bringing a crypto-friendly approach. This shift has generated optimism in the crypto space, with hopes for more favorable regulations.
Bitcoin ETF Inflows Surge: Bitcoin ETFs recorded their highest inflow since January, with $381 million in BTC purchased. This reflects growing institutional interest amid Bitcoin’s price rally.
Circle Launches Stablecoin Payment Platform: Circle has introduced a 24/7 cross-border payments platform using regulated stablecoins, aiming to enhance global transaction efficiency. This move is seen as a step toward mainstream adoption of stablecoins.
KuCoin’s CFTC Settlement Delayed: KuCoin’s settlement with the U.S. Commodity Futures Trading Commission (CFTC) is likely to be delayed due to a policy shift under the Trump administration. CFTC attorney John Murphy has requested more time to secure approval for the deal, which was negotiated under the Biden administration.
Surge in Trader Confidence: A CryptoQuant analyst highlighted a significant increase in 24-hour Open Interest, the largest in months, signaling growing trader confidence in the crypto market.
Major Crypto Firms Eye Bank Charters: Companies like Circle, BitGo, Coinbase, and Paxos are considering applying for bank charters in the U.S. amid evolving stablecoin regulations, according to the Wall Street Journal. This could bridge traditional finance and crypto further.
Altcoin ETF Buzz: Over 70 altcoin ETFs are awaiting SEC approval, creating significant excitement in the market as investors anticipate broader crypto investment opportunities.
WazirX Plans Comeback: Indian crypto exchange WazirX, which faced challenges earlier, is plotting a relaunch in May, pending court approval, as mentioned in posts on X.
The crypto market is showing a mix of bullish sentiment, regulatory developments, and institutional adoption, though investors should remain cautious due to ongoing volatility and policy shifts.
