INSIGHT: #Bitcoin analyst Willy Woo warns risk is peaking and advises caution as profit-taking continues, stressing the market is due for a reset. However, Rekt Capital see a “high probability of reversal” for Bitcoin, as its current retrace aligns with previous cycles.
How crypto plans to steal the spotlight at Trump’s inauguration
Ripple in particular, has been at the forefront of crypto’s political spending spree. The firm’s $5 million donation to Trump’s inauguration fund marks a sharp pivot from its earlier overtures to Democratic candidate Kamala Harris.
Ripple’s CEO, Brad Garlinghouse, had once praised Harris for her “constructive” stance on digital assets, while Ripple co-founder Chris Larsen contributed a staggering $10 million to her campaign. But with Trump’s victory, Ripple’s strategic recalibration is glaringly evident.
This shift seems less about political loyalty and more about survival. Ripple’s long battle with the SEC, which began under the Biden administration, looms large in its calculus.
The infamous $1.3 billion lawsuit in 2020 accused Ripple of selling unregistered securities, leaving the company embroiled in legal uncertainty
Trump’s presidency offers a chance to escape the regulatory quagmire, and Ripple’s $5 million gesture is as much an olive branch as it is an investment in a friendlier future.
The results are already visible. XRP’s price has skyrocketed from $0.50 in early November to $2.30 as of Jan. 10—a jaw-dropping 360% increase.
Meanwhile, Ripple’s market cap has swelled from $28 billion to $132 billion, reflecting how closely the company’s fortunes are tied to Washington’s changing rhythms.
How crypto plans to steal the spotlight at Trump’s inauguration
Trump fever sweeps the world The crypto world is thriving as Donald Trump prepares to take the oath of office as the 47th President of the United States on Jan 20.
After a turbulent few years under Joe Biden’s administration — defined by aggressive crackdowns, ambiguous regulations, and a bearish market — Trump’s return feels like a much-needed lifeline for crypto firms and investors.
Beneath the glamour, however, lies a strategic game of influence, with corporations and wealthy individuals leveraging financial contributions to secure favor with the incoming administration.
Even former critics, such as hedge fund mogul Ken Griffin, have joined the ranks of million-dollar donors, vying for a seat at the table.
Yet, the most fascinating developments are unfolding not in Silicon Valley but in the crypto world. For the first time, crypto firms are stepping into the spotlight with unprecedented vigor, positioning themselves as key players in this high-stakes environment.
So, how much are these crypto companies betting on Trump, and what’s their game plan as this new era begins? Let’s delve into the numbers, the major players, and what this could mean for the future of crypto under Trump’s leadership.
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Need to catch up on the news? Here's top 10 from today:
🔸 UK Treasury clarifies crypto staking for proof-of-stake blockchains like Ethereum & Solana isn’t a collective investment scheme.
🔹 VanEck's Matthew Sigel suggests Block Inc. may become the first S&P 500 firm with a Bitcoin-focused strategy.
🔸 CleanSpark now holds 10,097 $BTC , becoming the fourth public miner with over 10,000 Bitcoin.
🔹 US Senate eyes crypto subcommittee as Trump considers Summer Mersinger, a pro-crypto candidate, for CFTC chair.
🔸 #Bitcoin hits 14 consecutive green hourly candles, marking its longest streak since 2017, with prices rising from $91,771 to $95,283.
🔹 Bloomberg reports that after the unemployment report, traders no longer anticipate two Fed rate cuts this year.
🔸 Kenya is drafting legislation to legalize cryptocurrencies.
🔹 The CFPB has proposed a rule requiring crypto firms to refund users for funds lost to hacks, offering protections similar to those for US bank accounts.
🔸 Shareholders of Mark Zuckerberg’s Meta are requesting the company “conduct an assessment to determine if adding #Bitcoin to the Company’s treasury is in the best interest of shareholders.”
🔹 Ripplem Robinhood, Coinbase, Circle, Kraken, Ondo Finance, and Moonpay all donate to Donald Trump's inauguration fund.
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BULLISH🔥🔥🔥: Grayscale is optimistic about #Bitcoin's future, even with current economic challenges, and sees the upcoming U.S. presidential inauguration as a potential boost.
Analysts predict that 2025 could bring new all-time highs for Bitcoin, thanks to increased institutional investments and supportive regulations.
NEWs: A New York court granted President-elect Donald Trump an unconditional discharge after his conviction on 34 counts of falsifying business records related to 2016 election hush money payments.
He faces no jail time, fines, or probation, but the conviction remains on record.
Will this mean he can implement the #Bitcoin Strategic Reserve shortly after taking office? 🔥
🇺🇸 NOW: Following significant funding for Donald Trump's campaign, major crypto players made large donations to the inauguration fund of the elected U.S. president.
Ripple donated $5 million, while Robinhood contributed $2 million, and Coinbase, Circle, Kraken, Ondo Finance, and Moonpay each gave $1 million.