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While Bitcoin (BTC) reserve studies continue in the USA and many states, the second positive news came from Utah.
A Utah House of Representatives committee has passed a bill that would allow the state to invest a portion of public funds in cryptocurrencies, and the bill will now head to the upper house for a vote.
At this point, Utah has become the second US state after Arizona to approve the Strategic Bitcoin Reserve bill, moving one step closer to federal approval.
The important development was shared by Satoshi Act Fund co-founder Dennis Porter. Porter stated in his post on his X account that Utah approved the bill that paves the way for buying BTC.
The bill, which passed the committee, will now be presented to the state legislature, where it will be approved by the governor as the final authority. Once the governor signs the bill, it will become law. At this point, it is anticipated that a final approval in Utah will pave the way for other US states to do the same.
If the governor approves, Utah will soon have a Strategic Bitcoin Reserve and will serve as a reference point for other US states.
The bill was introduced by Utah Representative Jordan Teuscher on January 21.
As you may recall, yesterday, a bill allowing Bitcoin reserves was approved by the committee in another US state, Arizona.#TrumpCryptoOrder $BTC

Donald Trump and Eric Trump suggest increased support for cryptocurrency initiatives based in the United States. These initiatives will receive backing ranging from tax treatment to the closure of non-fraudulent lawsuits. Currently, there are at least 30 popular cryptocurrencies originating from the U.S.

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Bitcoin (BTC)
$102,576 (3.23%)
Ethereum (ETH)
$3,166.10 (2.82%)
Litecoin (LTC)
$114.30 (3.23%)
XRP (XRP)
$3.16 (7.97%)
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$672.64 (1.88%)
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$234.34 (2.98%)
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$0.328370 (2.09%)
TRON (TRX)
$0.244480 (0.82%)
Polkadot (DOT)
$5.82 (1.29%)
Chainlink (LINK)
$23.71 (2.34%)
Polygon (MATIC)
$0.406073 (0.60%)
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COINTURK NEWS > Altcoin News > Trump’s Moves Could Propel U.S.-Based Cryptocurrencies to New Heights
Altcoin News
Trump’s Moves Could Propel U.S.-Based Cryptocurrencies to New Heights
In Brief
Trump's initiatives may support U.S.-based cryptocurrency projects significantly.Ethereum's price is stabilizing, showing potential for future gains.Current market conditions reflect challenges for altcoin investors amid ongoing dips.

İlayda Peker40 minutes ago

Donald Trump and Eric Trump suggest increased support for cryptocurrency initiatives based in the United States. These initiatives will receive backing ranging from tax treatment to the closure of non-fraudulent lawsuits. Currently, there are at least 30 popular cryptocurrencies originating from the U.S.
Contents
U.S.-Based CryptocurrenciesEthereum and Cryptocurrencies
U.S.-Based Cryptocurrencies
The Coinbase 50 Index was previously launched, featuring significantly U.S.-based altcoins. Cryptocurrencies included in this index are crucial as investors introduce cash into all of them simultaneously. Additionally, cryptocurrencies launched by Grayscale trust have an advantage in obtaining ETF approval.
By successfully securing investment for Trump’s WLFI project, cryptocurrency initiatives might positively differentiate themselves in the process. Below, all are categorized, including those that have reached all-time lows against BTC.

Looks like Elon Musk is taking blockchain to Washington via his infamous Department of Government Efficiency (D.O.G.E). According to a Jan. 25 report by Bloomberg, Elon wants blockchain to track federal spending, secure sensitive data, process payments, and even manage government buildings.

The D.O.G.E, established by ‘crypto president’ Donald Trump, is tasked with making government tech leaner, meaner, and cheaper. The report says D.O.G.E has already met with representatives from public blockchain networks to evaluate what works and what doesn’t.

Trump’s executive order kicks things off
The Department of Government Efficiency was made official with an executive order signed by Trump on January 20. D.O.G.E has to deliver recommendations for spending cuts by July 4, 2026.

Bloomberg’s report said Elon wasted no time, recruiting 100 volunteers before Trump even stepped into the Oval to start coding for D.O.G.E-related projects.

In December, a person reportedly pitched Trump’s transition team in Palm Beach, Florida, on how blockchain could protect critical government data and track federal dollars.

The pitch landed with Elon’s team, who believe a decentralized ledger could slash fraud, abuse, and unnecessary spending in federal programs.

Using blockchain to run an operation as massive as the U.S. government is uncharted territory, though. Blockchain efforts in corporate America—like Walmart’s private blockchain for tracking supply chains—have been hit or miss.#BinanceAlphaAlert #TRUMPTokenWatch

President Donald Trump has taken significant action to reinforce the United States’ leadership in cryptocurrency and blockchain technologies. On Thursday, he signed an executive order that introduces strategic changes in digital finance policies. However, this development led to only a limited movement within the cryptocurrency market.The executive order contains two key innovations. The first involves the establishment of a working group aimed at improving existing regulations and creating a comprehensive framework for the cryptocurrency market. This group is expected to present initial proposals within 60 days and a detailed strategy within 180 days.

Donald Trump Cryptocurrency Executive Order
The second innovation considers the potential creation of a national digital asset, or cryptocurrency reserve. However, this topic is still under research, leading to speculation in the market about the U.S. possibly establishing a Strategic Bitcoin Reserve.

Following the executive order, Bitcoin (BTC) $105,762 briefly touched the $106,000 level but quickly fell back to around $105,000. This movement signaled a 3% change, while Ethereum (ETH) $3,370 rose by 6%. Altcoins like Solana $262 (SOL) and XRP saw increases of 8% and 3%, respecti
vely.#TrumpCryptoOrder

Toncoin Reaches for New Heights
Toncoin grew out of Telegram’s blockchain vision and has attracted a large user base, thanks to quick transactions and minimal fees. Recent data shows Toncoin’s daily transactions surpass the $1 million mark, signaling a robust community. While the platform faced early regulatory hurdles tied to Telegram, TON now operates independently. Fans argue it could make big strides if institutional partners come on board. Critics caution that community momentum needs to stay high, or Toncoin’s buzz might fade. Still, for those who appreciate user-friendly tech, Toncoin’sfocus on scalable DeFi could make it a prime candidate for the next bull market#BinanceAlphaAlert #VeThorOnBinance

On January 23, President Donald Trump signed an executive order titled “Strengthening American Leadership in Digital Financial Technology.” The order establishes the Presidential working group on digital asset markets, tasked with developing a regulatory framework for the sector. A key part of the initiative is the creation of a National Digital Asset Stockpile, which could include various cryptocurrencies.

This move comes as a major win for pro-crypto advocates, who have long pushed for regulatory clarity and innovation in the digital assets space. The executive order also takes a firm stance against the promotion of Central Bank Digital Currencies (CBDCs), ensuring that the U.S. maintains a hands-off approach to digital currency issuance.

While there’s excitement around the latest executive order, the market has been muted, as much of the news was already factored into prices, similar to past events like the Bitcoin ETF launch. However, since the announcement, Bitcoin has gained more than 4% and is now close to breaking the $105K mark.

The cryptocurrency market is currently experiencing a remarkable transformation with Donald Trump introducing new crypto elements in the market. From the rescinding of SAB 121 to vowing to make America a crypto hub, such developments have added more prestige to the overall cryptocurrency narrative as of late. That being said, such positive activities are also paving a new pathway for TRUMP and MELANIA meme coins, which continue to attract heavy market momentum. Here’s how the coins may fare this February 2025.#TRUMPTokenWatch #CryptoSurge2025 $BNB

According to the latest development, Bitwise has registered its Dogecoin ETF in Delaware. However, this does not mean approval.

In a compelling new development, Vivek Ramaswamy, who was supposed to co-lead the ambitious Department of Government Efficiency with Elon Musk, has exited, leaving Musk as the sole head of the D.O.G.E. The dynamic Trump administration has reportedly given Ramaswamy a governance bid in Ohio, offering him to lead Ohio as governor. Will this new development have any credible impact on Dogecoin (DOGE) now that Musk will run the department holistically? Let’s find out.
Also Read: Cryptocurrency: 3 Coins To Skyrocket After Trump’s Presidential Ceremony

Ramaswamy Exits D.O.G.E.

On January 20, Vivek Ramaswamy announced his plans to leave the Department of Government Efficiency, a domain that he was supposed to lead alongside Tesla chief Elon Musk. Taking it on X, Ramaswamy tweeted that it was an honor to assist Musk in co-creating D.O.G.E.
“It was my honor to help support the creation of DOGE. I’m confident that Elon & team will succeed in streamlining the government. I’ll have more to say very soon about my future plans in Ohio. Most importantly, we’re all into help President Trump make America great again! 🇺🇸.”#TrumptMarketInsights

Over the past two weeks, Notcoin [NOT] has faced strong downward pressure. During this period, NOT dipped from a local high of $0.01 to a low of $0.0049.

At press time, Notcoin was trading at $0.0055. This marked a 2.72% drop on daily charts. The memecoin has also dropped on weekly and monthly charts by 8.28% and 20.12% respectively.

This sustained downtrend has analysts worried about further dips. Popular crypto analyst Ali Martinez suggested a potential drop to $0.0031.ByMarket sentiment analyzed
In his analysis, Martinez observed that Notcoin has broken a key support level and is now on the verge of a potential decline.

Source: X

Donald Trump, who won the presidential elections held in the United States last November, will sit back in the US presidency with the swearing-in ceremony.
While many important figures such as former US presidents, world leaders and billionaires are expected to attend the oath-taking ceremony, the time of the oath-taking ceremony is a matter of curiosity.
What Time Will Donald Trump Be Sworn In?
Accordingly, the inauguration ceremony events in Washington are expected to start at around 17:30, and Donald Trump is expected to take the oath at 12:00 Washington time (20:00 Turkish time) on Monday, January 20.
The swearing-in ceremony, eagerly awaited by the whole world, will be held inside the Capitol this year due to cold weather conditions.Trump has promised to issue a series of executive orders on his first day, and more than a hundred of these executive orders are expected.
What Are Trump's Cryptocurrency Promises?
Trump’s biggest promise was undoubtedly the creation of a national Bitcoin reserve. Trump’s promise of a BTC reserve triggered a massive rally, sending BTC above $108,000.
His other promises included becoming the first Bitcoin/crypto president, making the US a Bitcoin superpower, ensuring that US BTCs cannot be sold, and firing SEC Chairman Gary Gensler.
Before Trump could do anything, Gary Gensler announced that he would resign on January 20. Trump replaced Gensler with cryptocurrency friend Paul Atkins.#TrumpMarketWatch

On 19th January, U.S. President-elect Donald Trump’s official meme coin, the TRUMP coin, became the second largest meme coin in the market, replacing Shiba Inu (SHIB). This has put a stamp on the growing market shift as new tokens emerge to compete with the older ones. The milestone proves that more investors are getting interested in the $TRUMP coin, as well as its performance in the past several days. However, since then the $TRUMP coin has retraced and is now ranking as the 3rd largest memecoin.

Over the past 24 hours, the $TRUMP coin’s value has skyrocketed by an impressive 169.16%, reaching $65. This rise was supported by a massive jump in trading volume of 328.69% to $25.23 billion. The trading volume of the coin stands at $47 billion, while the market capitalization now stands at $13.06 billion, proving the investors’ confidence and positive market direction.

Shiba Inu
The price for Shiba Inu (SHIB) went down by 6.05% in the same 24-hour period. The token’s value has currently risen to $0.00002163. Despite this, trading volume increased by 15% to $992 million, which is an indication that there was still trading going on in the market even after the price drop. The market capitalization of Shiba Inu has fallen to $12.74 billion, making it a difficult day for the previous leading cryptocurrency.

The $TRUMP coin has risen sharply in value after its introduction by U.S. President-elect Donald Trump. Originally, $TRUMP was launched as a meme coin, but it was able to amass a market capitalization in the billions demonstrating its mass adoption. Rising interest from the market ahead of Trump’s inauguration as the 47th President of the United States on Monday has also contributed to pushing up the toke#TrumpMarketWatch #TRUMPOnBinance #TRUMPOnBinance n’s price.

On January 20, he plans to issue an executive order that will elevate the status of cryptocurrencies in U.S. policyThe elected President of the United States, Donald Trump, intends to issue an executive order elevating cryptocurrencies to a priority in policy and giving industry representatives a voice in his administration, according to Bloomberg sources.

According to the agency, crypto assets will become a national priority. This status calls for government agencies to collaborate with the industry. The creation of a cryptocurrency advisory council is also planned to advocate for the industry's political priorities.

Trump enjoys strong support in the crypto sector due to his promises to fire SEC Chair Gary Gensler, create a strategic Bitcoin reserve, and generally be loyal to the industry. Several major players in the digital asset ecosystem have made significant donations to the elected president's inauguration fund.

The order marks a shift in attitude towards the crypto sector, which has faced persecution in recent years. The SEC has filed over 100 lawsuits against cryptocurrency-related companies, and banking regulators have complicated their operations with traditional financial institutions.

According to Bloomberg, discussions are currently ongoing regarding including directives in the order that would require all federal agencies to review their policies on digital assets and possibly suspend legal actions.

On January 15, it became known that the SEC under Donald Trump's administration may review lawsuits against cryptocurrency companies in the early days and even withdraw some that are currently under consideration. Initial initiatives in the U.S. after Trump's inauguration may address "debanking" industry companies and accounting rules for digital assets (SAB 121). The creation of a national reserve of the first cryptocurrency is also being explored.

The document could appear on the day of the president's inauguration on January 20; however, the current version i#TRUMPOnBinanceFutures s not final.