Rumors have been circulating that President Trump’s team is discussing the creation of a new position in the White House for cryptocurrency policy, which would be a first of its kind. This comes on the heels of reports that the Trump Media Group is in talks to acquire cryptocurrency trading company Bakkt.
These developments have raised optimism about the future of the cryptocurrency industry under a Trump administration. Cryptocurrency stocks have soared, with MicroStrategy’s stock rising more than 10%. Bitcoin is trading at $97,530, nearing the $100,000 milestone. Ethereum and altcoins, on the other hand, have generally fallen.
Major U.S. stock indexes’ futures are also down. The Hong Kong stock market closed lower, with the Hang Seng Index decreasing by 0.53%, the State-owned Enterprises Index falling 0.79%, and the Hang Seng Technology Index dropping 1.24%. However, some crypto concept stocks have bucked the trend, with Linekong Interactive rising by over 54%, Boyaa Interactive by almost 17%, and OSL Group by nearly 2%.
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