We spent another busy week in the encryption market: Bitcoin was $ 109,000, Trump and Melania’s launch Memecoin, Douja Agency in Elon Musk, Circle won Hus Note, Trump was silk road creator Los Wolblicht and Taiwan are forgotten, and Banks is considering issuing a Sabbath. Accept cipher with a clear regulation, and Trump signs the Presidential Ordinance of the Crypto Working Group.
Bitcoin reaches $ 109,000
Bitcoin has recorded a new history of more than $ 109,000 than Donald Trump’s inauguration ceremony on Monday.
On January 20, Bitcoin reached a new best because the market sentiment remained optimistic about the trump plan for the cryptographic industry. The latest height exceeds the previous record of more than $ 108,000 achieved in December.
Trump also mentioned Bitcoin in Sunday speeches and emphasized record performance since the United States election.
“Since the election, the stock market has increased rapidly, and SME optimism has risen to 39 years of record 41 points,” Trump said. “Bitcoin has crushed high prices one after another.”
In the past 90 days, bitcoin has increased by nearly 60 % and the market capitalization is $ 2.09 trillion.
Trump and Melania launch a memoocaine
Prior to Trump’s inauguration ceremony on Monday, January 20, he announced his $ Trump Memecoin on his true social platform.
Within 24 hours of release, MEME TOKEN’s value has risen by 580 %, over $ 75, and has a market capitalization of nearly $ 6 billion.
Following Trump, Melania Trump launched her memorial, $ melania last Sunday, and tokens reached more than $ 13.
According to CoinmarketCap data, $ trump and $ melania are traded for more than $ 33 at the time of publication.
Elon Musk’s DOGE AGENCY sued
The ELON MUSK government efficiency bureau (DOGE) agency has been reported on Monday that it filed three lawsuits within a few minutes from Trump’s inauguration ceremony.
In a 30 -page lawsuit from a national security counselor, a public interest law firm, he questioned the legal nature of the institution that Trump would create to “dismantle the government’s bureaucracy.”
Complaints have violated the Federal Advisory Committee (FACA), demanding that the Advisory Committee will follow specific rules, such as permit public involvement.
The National Security Counselor states that DOGE meets the requirements of the Federal Advisory Committee. However, similar institutions continue to meet the records, “a fairly balanced” expression, and allow public involvement as obliged by law, but Doge does not.
The other two lawsuits were raised by the US government officials and groups, including the State Democratic Fund. In another case, the plaintiff is the responsibility and ethical citizens of the Washington and the U.S. Teacher Federation.
Nevertheless, the US government launched a DOGE institution website the next day.
The circle gets Hasnote
StableCoin Issuer Circle acquired Hashhnote with a private amount this week. As part of the acquisition, Circle plans to integrate USYC as a collateral for encryption.
In X’s post, Circle stated with a strategic partnership with a global trading company, DRW, and “we plan to redefine the status of the digital asset market.”
The circle today announced the acquisition of Hasnote and USYC tokenization.
This strategic movement is set to redefine Landscape, along with a partnership with a global trading company DRW via@cumberlandsays and the news that native USDC is brought to @cantonnetwork.
-Circle (@circle) January 21, 2025
By integrating Circle’s StableCoin and Usyc, the platform enables both assets to convert, so that EXYC can be used as a collateral of exchanges and brokers.
Trump allows Silk Road creator Los Wolblicht
Donald Trump signed an order and gave Los Wolblicht this week, the founder of the Dark Net Marketplace Silk Road.
In his true social platform post, Trump wrote:
“I called Los William Wolblicht’s mother and informed her that she supported me very strongly in honor of her Libertarian movement.
The pardon comes after Wolbricht is arrested in 2013 and spent 12 years in prison. Wolbricht created a silk road in 2011. However, he was given 40 years in 2015, in addition to two life imprisonment. Forgesting Wolblicht, Trump called Wolbricht’s ruling “stupid.”
Taiwan is considering being able to issue stable banks
Taiwanese financial regulatory authorities propose laws that local banks can issue ridiculous banks fixed to the new Taiwan dollar (NTD).
The Financial Supervision Committee (FSC) bill will be introduced in June 2025. It aims to fill the gap between Fiat and digital currency, and aims to strengthen investors’ access to rapidly growing encryption markets.
Banks for issuing stubcoin are considered to be an extremely important step in the evolution of this regulation, providing a more secure and regulated environment for cryptocurrency trading.
FSC emphasizes that all stub coins issued in Taiwan are under the joint management of the central bank and ensure their stability and justification.
Zhuang Xiuyuan, a Director of Taiwanese banks, has expressed concerns about existing stupid coins, such as Tether and USDC, and criticized the support of non -governmental assets.
To deal with these issues, Taiwanese new StableCoin requires explicit approval from the FSC and guarantees a specific qualification for issuer reliability and spare distribution.
Banks accept cipher with more clear regulations
Bank of American CEO states that if US banks have more clear rules from regulatory authorities, they will accept cipher payments.
Speaking in the World Economic Forum, Brian Moinihan stated that if the rules appeared and the cryptographic payment became “reality”, the banking system would be intense on the trading side.
So far, US banks have been cautious about providing retail cryptocation services, and instead focus on providing institutional products such as spot bitcoin exchange sales funds (ETFs) in the United States.
Trump will sign the Presidential Ordinance of the Crypto Working Group
In less than a week after entering the White House, Trump signed the Presidential Order of the Crystal Working Group designed to provide the clarity of regulations.
When he signed his order, Trump appeared with his AI and Crypto Czar David Sacks and told the president about his order. “We intend to form an internal working group to make the United States a global capital under your leadership,” said Sack, who leads the working group when the working group is implemented.
In addition to providing regulation clarity, working groups are trying to protect US dollars through the development of stubcoin supported by legal dollars around the world. The working group also wants to prohibit the establishment, issuance, distribution, and use of the Central Bank’s digital currency in the jurisdiction of the United States.
