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Cryptorphic has made some observations regarding the increasing focus of Donald Trump on cryptocurrencies. The recent announcement by Trump about making the U.S. the crypto capital has created a buzz, but there are concerns over the ethical dilemmas due to conflict of interest. Trump has changed his mind and is now supporting cryptocurrencies and has […]
Former president Donald Trump continues to repeat his stance as the crypto-friendly candidate, and it's resulting in votes and donations from the tech world.
Trump has seen the light. 5 years ago the former President was saying crypto was a disaster waiting to happen but since then has made a number of pro-crypto statements.
Trevor Traina, ambassador to Austria during the Trump Administration and current tech executive, tells Reuters that Trump said he would be the crypto president at a recent San Francisco fundraiser.
Unexpected Support in 'Liberal' Silicon Valley
As someone in Silicon Valley, I never expected to hear that Trump was in San Francisco, raising millions from the tech elite that were clearly against him in the previous two elections.
But just three days ago, Silicon Valley venture capitalists David Sacks and Chamath Palihapitiya hosted the former president at Sacks' mansion in the wealthy Pacific Heights neighborhood, where Trump gave a speech, followed by a dinner and reception. The tickets started at $50,000, and the event sold out, ending in $12 million being raised for the campaign.
Crypto is among a list of policies that have 'turned off' those now supporting Trump in a city that voted 85% for Biden.
All Happening While Biden's Administration Continues to Advocate Policies that Aren't Just Bad for Crypto - They Expose a Complete Lack of Understanding of How Crypto Works
For example, the first crypto-related proposals exposed that the Biden administration viewed wallet providers the same as banks, saying they should be required to verify the identities of all users. In reality, wallets are simply software that runs entirely on the user's end, different from a bank in every possible way.
The creator of a legitimate crypto wallet is both blind and powerless when it comes to who uses it and what those users are doing. They cannot help the government seize someone's crypto, even with a warrant, because they literally cannot access it. They also cannot prevent anyone from using the wallet they created - if the file to install it is accessible, anyone can use it.
In other words, it is both completely pointless to require wallet creators to demand information from users they have no authority over, and there is no reason for users to comply when ignoring these new requirements has the same end result - them being free to continue using whatever wallet they want.
No one can be surprised that the industry rightfully fears the end result of people writing new laws intended to regulate something they clearly do not understand.
As Trump Warmed Up To Crypto, His Campaign Made Sure to Show It
In 2022, the announcement that he would be running again came with the launch of Trump NFTs on the Ethereum-based platform OpenSea.
In 2023, his financial disclosure filed with the Office of Government Ethics included a crypto wallet with up to $500,000 worth of assets in it - this wallet's value recently broke $5 million in value. Since the wallet address became known, both random users and projects have gifted or airdropped coins to it.
Then last month, his campaign announced they will accept crypto donations for the 2024 election.
There are Legitimate Reasons Any US Leader Should Support Crypto
One major contributing factor to the US's global power is the strength of the US dollar, and one major reason the dollar is so strong is its status as the global 'reserve currency' as well as the official standard currency for purchasing oil from the world's largest supplier - OPEC in the Middle East.
When the global economy is in turmoil, as seen recently during the COVID pandemic, many nations converted their treasury to US dollars. The Federal Reserve was overwhelmed initially, having to scramble to fulfill other countries central banks' demands for what is seen as the world's most stable currency.
That word 'stable' is one crypto investors are familiar with - as the US dollar is finding yet another market where it has become the standard for investors looking for a stable currency to both cash out and re-enter trades from.
In fact, when it comes to cryptocurrencies tied to standard fiat money, the top 16 stablecoins are all based on the US dollar, with 'STASIS EURO' at #17 and less than $1 million in daily transactions. The top stablecoin USDT has done $39 billion in the same 24-hour time period.
While the crypto market trades digital versions, the two that account for the overwhelming majority of stablecoin transactions, USDT and USDC, are both publicly audited companies that verify they hold the money to back up the coin. This means as we've watched stablecoin usage skyrocket over the last few years, offline this created new real-world demand for US dollars.
You would think this would result in crypto having no effect on the election, as both sides would support its continued growth. Regardless of what your opinions may be on other issues - it's a fact that only one candidate seems to be getting this one right.
---------------
Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News
Former president Donald Trump continues to repeat his stance as the crypto-friendly candidate, and it's resulting in votes and donations from the tech world.
Trump has seen the light. 5 years ago the former President was saying crypto was a disaster waiting to happen but since then has made a number of pro-crypto statements.
Trevor Traina, ambassador to Austria during the Trump Administration and current tech executive, tells Reuters that Trump said he would be the crypto president at a recent San Francisco fundraiser.
Unexpected Support in 'Liberal' Silicon Valley
As someone in Silicon Valley, I never expected to hear that Trump was in San Francisco, raising millions from the tech elite that were clearly against him in the previous two elections.
But just three days ago, Silicon Valley venture capitalists David Sacks and Chamath Palihapitiya hosted the former president at Sacks' mansion in the wealthy Pacific Heights neighborhood, where Trump gave a speech, followed by a dinner and reception. The tickets started at $50,000, and the event sold out, ending in $12 million being raised for the campaign.
Crypto is among a list of policies that have 'turned off' those now supporting Trump in a city that voted 85% for Biden.
All Happening While Biden's Administration Continues to Advocate Policies that Aren't Just Bad for Crypto - They Expose a Complete Lack of Understanding of How Crypto Works
For example, the first crypto-related proposals exposed that the Biden administration viewed wallet providers the same as banks, saying they should be required to verify the identities of all users. In reality, wallets are simply software that runs entirely on the user's end, different from a bank in every possible way.
The creator of a legitimate crypto wallet is both blind and powerless when it comes to who uses it and what those users are doing. They cannot help the government seize someone's crypto, even with a warrant, because they literally cannot access it. They also cannot prevent anyone from using the wallet they created - if the file to install it is accessible, anyone can use it.
In other words, it is both completely pointless to require wallet creators to demand information from users they have no authority over, and there is no reason for users to comply when ignoring these new requirements has the same end result - them being free to continue using whatever wallet they want.
No one can be surprised that the industry rightfully fears the end result of people writing new laws intended to regulate something they clearly do not understand.
As Trump Warmed Up To Crypto, His Campaign Made Sure to Show It
In 2022, the announcement that he would be running again came with the launch of Trump NFTs on the Ethereum-based platform OpenSea.
In 2023, his financial disclosure filed with the Office of Government Ethics included a crypto wallet with up to $500,000 worth of assets in it - this wallet's value recently broke $5 million in value. Since the wallet address became known, both random users and projects have gifted or airdropped coins to it.
Then last month, his campaign announced they will accept crypto donations for the 2024 election.
There are Legitimate Reasons Any US Leader Should Support Crypto
One major contributing factor to the US's global power is the strength of the US dollar, and one major reason the dollar is so strong is its status as the global 'reserve currency' as well as the official standard currency for purchasing oil from the world's largest supplier - OPEC in the Middle East.
When the global economy is in turmoil, as seen recently during the COVID pandemic, many nations converted their treasury to US dollars. The Federal Reserve was overwhelmed initially, having to scramble to fulfill other countries central banks' demands for what is seen as the world's most stable currency.
That word 'stable' is one crypto investors are familiar with - as the US dollar is finding yet another market where it has become the standard for investors looking for a stable currency to both cash out and re-enter trades from.
In fact, when it comes to cryptocurrencies tied to standard fiat money, the top 16 stablecoins are all based on the US dollar, with 'STASIS EURO' at #17 and less than $1 million in daily transactions. The top stablecoin USDT has done $39 billion in the same 24-hour time period.
While the crypto market trades digital versions, the two that account for the overwhelming majority of stablecoin transactions, USDT and USDC, are both publicly audited companies that verify they hold the money to back up the coin. This means as we've watched stablecoin usage skyrocket over the last few years, offline this created new real-world demand for US dollars.
You would think this would result in crypto having no effect on the election, as both sides would support its continued growth. Regardless of what your opinions may be on other issues - it's a fact that only one candidate seems to be getting this one right.
---------------
Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News
Cosmos rises, Sonic upgrades, and Qubetics crosses $16M during a calm in the US-China trade war. Discover the top cryptos to join for 2025 right now.
The post Qubetics, Cosmos, Sonic React to Trump Trade TruceTop Cryptos to Join for 2025 appeared first on Kanalcoin.
Addressing attendees at the summit via a pre-recorded video message, Trump made it clear hes going all-in on crypto. Were going to make America the undisputed bitcoin superpower and the global hub for digital assets, he said, doubling down on his pitch to plant the U.S. flag at the center of the crypto economy. He pointed to the recent White House Digital Asset Summit a closed-door meeting that brought together top crypto execs and White House AI & Crypto Czar David Sacks as a signal of whats to come.
In one of his bigger reveals, Trump announced plans to establish both a strategic bitcoin reserve and a broader "U.S. digital asset stockpile" with coins beyond Bitcoin, signaling a shift toward long-term government holding strategies. We wont be offloading these assets for pennies like Biden did, he said, taking a jab at the previous administration.
He also highlighted his immediate hard stop to what he called the previous administrations regulatory war on crypto, including the controversial Operation Choke Point 2.0. It was government overreach disguised as compliance pure lawfare, he said, vowing that such efforts were over as of January 20, 2025.
Pushing for clearer rules, Trump called on Congress to pass legislation to define stablecoin regulations and market structure, claiming that regulatory clarity would unlock a wave of institutional capital and innovation. Itll trigger massive economic growth, he told the crowd.
Trump closed out by reiterating his vision for Americas crypto future: The next wave of financial innovation is coming, he said. And its going to happen right here in the good old USA.
The overall message seems clear - his administration is working towards fulfilling promises made during the campaign, something he believe is a priority, evidenced by some promises having already been met.
-----------
Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto NewsSubscribe to GCP in a reader
These top meme coins to buy this week are making waves. Arctic Pablo, Toshi, and TRUMP offer massive ROI potentialdon't miss out before prices soar!
The post Arctic Pablo at $0.000074 NowWill It 100x? Toshi and Official TRUMP Make Waves Too! Top Meme Coins to Buy This Week appeared first on Kanalcoin.
Master Ananda gave his opinion on the TRUMPUSDT trading pair and initiated conversations on what some regard as the greatest memecoin of all time. In the current period, Ananda noted that the current trend of the coin might be the defining moment of the altcoin entering a growth period in the following weeks. The analysis […]
Just recently, the 45th President of the United States, Donald Trump, has expressed a neutral stance towards bitcoin, stating he could live with it “one way or the other.” Meanwhile, Trump’s holdings in crypto assets have seen a significant increase in value. A substantial portion of his digital wealth is currently in a digital currency [...]
The post Donald Trumps Cryptocurrency Portfolio Tops $5M, Thanks to $2.9M in Trump-Branded Tokens appeared first on Crypto Breaking News.
The race to integrate Bitcoin into state treasuries is heating up. So far, 20 U.S. states have introduced bills aiming to accumulate BTC as a financial assetbut Utah is pulling ahead with real legislative momentum.
A new bill, HB 230, just cleared a major hurdle. The Digital Innovation and Blockchain Amendments bill, which could allow the state treasurer to allocate public funds into Bitcoin, has now been formally introduced to the Utah Senates Revenue and Taxation Committee.
Back in January, the bill passed Utahs House of Representatives with an 8-1 vote, and on February 7, it advanced to the Senate for its first reading. If enacted, up to 5% of Utahs state funds could be invested in qualified digital assetsa category that, under the bills criteria, currently includes only one cryptocurrency: Bitcoin.
Utah's HB 230 isnt just about buying Bitcoin...
It also lays the groundwork for regulatory oversight, custody protocols, and even permits the treasurer to engage in staking and lending of crypto assets under certain conditions. Additionally, the bill introduces new rules around stablecoin investments, reflecting the broader push to formalize crypto within government finance. The proposal is spearheaded by Utah Rep. Jordan Teuscher.
If it keeps gaining traction, the bill could take effect on May 7, 2025. And according to Dennis Porter, CEO of Satoshi Action Fund, Utah is positioned to be the first U.S. state with an official Bitcoin treasury, thanks to its tight 45-day legislative session.
This state-level push follows Donald Trump has floating the idea of a Federal Bitcoin Reserve - his 'crypto task force' is already exploring ways to make it happen. In an interview with Bloomberg President Trump says he believes that if the U.S. doesnt move fast, rival nations will.
As Utah moves forward, all eyes are on whether this bill will set a precedent for other states looking to put Bitcoin on their balance sheets.
-----------
Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News
US crypto exchanges like Binance.US and Coinbase are making big moves into memecoins.
The move is part of the exchanges broader plan to expand its US presence following the election of Donald Trump.
Bo Hines will work under Donald Trumps crypto and AI czar, David Sacks, on the incoming presidents crypto council in a bid to foster innovation and growth for digital assets.
Derivatives trading products saw rapid growth, suggesting that professional traders were actively seeking exposure to cryptocurrencies.
The ETF, which Grayscale spun off from its older Grayscale Bitcoin Trust, now holds around $4 billion in assets.
US President-elect Donald Trumps World Liberty Financial (WLF) has made a substantial multi-million-dollar investment in Ethereum (ETH), Aave (AAVE), and Chainlink (LINK), leading to sharp price increases in AAVE and LINK. According to on-chain analysis shared by Lookonchain via X and verified through Etherscan, the fund purchased approximately $10 million in ETH, $1 million in AAVE, and $1 million in LINK on December 11. These are the funds first recorded acquisitions of both AAVE and LINK, while overall purchases in the last 12 days total around $30 million in USDC spent to secure more than 8,000 ETH at an average price of $3,701. Trump’s World Liberty(@worldlibertyfi) is buying $ETH, $LINK and $AAVE! In the past 9 hours, the World Liberty Multisig wallet spent 10M $USDC to buy 2,631 $ETH at $3,801, 1M $USDC to buy 41,335 $LINK at $24.2, and 1M $USDC to buy 3,357 $AAVE at $297.8.https://t.co/mtD0c2tvvo pic.twitter.com/B11KvcwRJQ Lookonchain (@lookonchain) December 12, 2024 Shortly after the news surfaced, AAVE soared roughly 31% in the past 24 hours, and LINK rose by about 23.5%. Related Reading: Chainlink Price Shines With 40% Rally Is $28.5 Possible? The surge coincides with World Liberty Financials recent decision to integrate Chainlinks technology. Last month, WLF announced that it will leverage Chainlink as the standard for onchain data and cross-chain interoperability to secure its protocol ecosystem. The press release described Chainlink as the most secure solution for solving critical security, interoperability, and onchain data problems while noting that this would kick off the next wave of DeFi mass adoption for WLFI. The platform plans to integrate Chainlink Price Feeds on Ethereum mainnet in anticipation of deploying a World Liberty Financial version of Aaves v3 instance, pending governance approval. Related Reading: Whale Activity Sparks Chainlink Rally, $52 Target On Traders Radar In October, WLF submitted a proposal on the Aave governance forums seeking to deploy its own Aave v3 environment. Aave founder Stani Kulechov has confirmed that WLFs instance is not a direct fork of Aaves code but operates as a segregated version tied to separate, KYC-compliant front-ends. While this means WLF is tapping into the largest smart contract-compatible public blockchain and leveraging core decentralized finance primitives, it also maintains stringent compliance requirements. The project is initially limited to accredited investors within the United States. AAVE, which has risen by roughly 138% over the last five weeks, is also showing technical resilience. Todays price action pushed it above the 0.5 Fib level at $356.84 (drawn from the all-time high to the cycle low). If this level holds on a weekly closing basis, upside targets could include the 0.618 Fib at $430.29, the 0.786 Fib at $534.87, and ultimately the ATH from May 2021 at $668. Chainlinks performance over the past five weeks has been particularly strong, posting a gain of more than 175%. The most critical technical resistance level now appears to be the 0.5 Fibonacci retracement at $28.88. A decisive break above this level could open the path to the 0.618 Fib at $34.57, the 0.786 Fib at $42.67, and potentially the all-time high (ATH) from May 2021 at $53. At press time, LINK traded at $27.67. Featured image created with DALL.E, chart from TradingView.com
BlackRocks IBIT ETF now holds upward of $33 billion in assets, more than the asset managers gold fund.
Donald Trumps Nov. 5 win in the United States presidential election sets the stage for more institutional cryptocurrency adoption, according to a Benchmark research note.
Trumps win sparked a surge of interest in crypto, Galaxys CEO reportedly said.
Analysts expect crypto products to proliferate after Republican presidential candidate Donald Trump's Nov. 5 US election win.
Grayscale Digital Large Cap Fund could be the first US ETF to hold altcoins such as Solana and AVAX if approved.
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