Cryptocurrency

(Reuters) – Advocates and holders of crypto will soon influence U.S. policy on the emerging technology after a slew of nominations and advisory appointments by President-elect Donald Trump, who takes office on Monday.The crypto industry has spent years fighting lawsuits and enforcement actions by the U.S. government. It hopes the incoming Trump administration will mark a shift in policy.  Political appointees will be vetted for potential conflicts. Some have committed to selling their interests.The industry is hosting a sold-out black tie ball in Washington on Friday, with tickets ranging from $2,500 to $10,000. David Sacks, Trump’s artificial intelligence and crypto czar, is scheduled to attend.Below are some facts on the crypto positions of key members of the incoming administration and Trump’s inner circle.SCOTT BESSENTA billionaire hedge fund manager, Trump’s pick to be Treasury Secretary has spoken favorably about crypto.    “Crypto is about freedom and the crypto economy is here to stay,” he told Fox News in July. “I think everything is on the table with bitcoin.”According to a financial disclosure filed last month, Bessent holds shares in a BlackRock (NYSE:BLK) bitcoin exchange-traded fund worth between $250,001 and $500,000. Bessent will divest his interests in the fund and other investments within 90 days of his confirmation, he wrote last week to the U.S. Treasury.Bessent did not respond to a request for comment.HOWARD LUTNICKTrump’s choice for Secretary of Commerce is a vocal supporter of bitcoin.Lutnick is CEO of New York brokerage firm Cantor Fitzgerald, which earns fees to manage billions of dollars’ worth of U.S. Treasuries for Tether, the company that issues the eponymous stablecoin.”Do I own bitcoin? Of course I do,” Lutnick said at the Bitcoin 2024 conference in July. “Does Cantor Fitzgerald own bitcoin? A shedload of bitcoin.”Lutnick did not respond to a request for comment.ELON MUSKThe Tesla (NASDAQ:TSLA) chief and world’s richest man, chosen by Trump to oversee a government cost-cutting effort, the so-called Department of Government Efficiency, has long championed crypto including bitcoin and dogecoin.His public comments and actions of his companies have in recent years influenced the price of bitcoin and dogecoin, a smaller token conceived as a joke during an earlier crypto bubble.The acronym for Musk’s cost-cutting agency, DOGE, is a nod to dogecoin, which is now the world’s seventh-biggest crypto token based on its circulation of $4.5 billion, according to data provider CoinGecko.In 2021 Tesla bought $1.5 billion of bitcoin, becoming one of the biggest companies to own crypto before selling most of its holdings. It held unspecified digital assets totaling $184 million in September 2024, a company financial report showed. Musk did not respond to a request for comment sent via Tesla on what crypto assets he may hold. VIVEK RAMASWAMY Set to work with Musk at DOGE, the former presidential candidate and entrepreneur is the founder of Strive Asset Management.Strive, which said in September it managed over $1 billion in assets, last month filed to launch an exchange-traded fund that invests in corporate bonds for bitcoin investments. The company’s wealth management arm, launched in November, seeks to integrate bitcoin into Americans’ investment portfolios, Ramaswamy said in a press release.In June 2023, Ramaswamy held $100,001 to $250,000 of bitcoin and $15,001 to $50,000 worth of the smaller token ether, according to a financial disclosure. He did not respond to a request for comment.DAVID SACKS A former PayPal (NASDAQ:PYPL) executive, Sacks was appointed White House artificial intelligence and crypto czar in December, tasked with developing a U.S. legal framework long sought by the crypto industry.Sacks is a co-founder of venture capital firm Craft Ventures. The firm has invested in crypto firms including BitGo and Bitwise, its website shows. Sacks did not respond to requests for comment. STEVE WITKOFFTrump’s Middle East envoy Steve Witkoff, a real estate tycoon and donor to the incoming president, founded crypto venture World Liberty Financial in November.World Liberty, which sells a proprietary token, lists on its website Trump as among those entitled to a large share of any of the company’s revenues.Witkoff did not respond to requests for comment.ERIC TRUMP, DONALD TRUMP JR., BARRON TRUMPEric Trump told Reuters last year he was very involved in World Liberty, which he, his elder brother Don Jr. – seen as the most influential family member in the presidential transition – and younger half-brother Barron helped to form.Eric told a bitcoin conference in December the technology was a “financial revolution,” and that his father would make the United States the crypto capital of the world.JD (NASDAQ:JD) VANCEU.S. Vice President-elect Vance held between $250,001 and $500,000 in bitcoin in August 2024, according to a financial disclosure.The venture capital firm co-founded by Vance, Narya, has made investments in Strive, Ramaswamy’s asset management company, and video platform Rumble, its website shows. In November, Rumble said it would allocate its excess cash reserves to bitcoin. The company also received last year a $775 million investment from stablecoin firm Tether. Asked for comment on the crypto stances of Vance and Trump’s sons, Trump-Vance transition spokesperson Brian Hughes said – without providing evidence – that bureaucrats in Washington had sought to stifle innovation with more regulation and higher taxes.”President Trump will deliver on his promise to encourage American leadership in crypto and other emerging technologies,” he said in a statement to Reuters.PAUL ATKINSAtkins, a lawyer and former top SEC official, is Trump’s choice to lead the Securities and Exchange Commission and has advocated for deregulation. He is expected to take a softer approach to crypto than current Chair Gary Gensler. Atkins is chief executive of Patomak Global Partners (NYSE:GLP), a consultancy. Patomak advises “cutting-edge crypto-native companies” and traditional financial firms on how to “leverage digital assets for growth,” its website says.Atkins did not respond to a request for comment. More

SINGAPORE/LONDON (Reuters) -Donald Trump’s newly created cryptocurrency soared on Monday to nearly $11 billion in market value, drawing in billions in trading volume, while bitcoin hit a record high just hours ahead of the U.S. President-elect’s return to the White House.Launched on Friday, Trump’s meme coin, also known as $TRUMP, stood at $52.71 by 1230 GMT on Monday, giving it a market capitalisaton of about $10.7 billion, according to CoinMarketCap, which ranked it as the 18th biggest cryptocurrency. The coin rose to as much as $74.59 on Sunday, having risen from less than $10 early on Saturday morning, while 24-hour trading volume reached $52.5 billion. Trump had on Friday launched the digital token with branding including an image from his attempted assassination in July, expanding his cryptocurrency interests that already include World Liberty Financial. Of the total number of tokens, 80% are owned by CIC Digital LLC, which is an affiliate of Trump’s business The Trump Organization, and another business called Fight Fight Fight LLC, the token’s website says.Melania Trump launched her own cryptocurrency on Sunday, which was trading at around $9.6 with a market cap of $1.85 billion, at 1230 GMT, according to CoinMarketCap.Bitcoin hit an all-time high of $109,071.86 in early European trading before falling back to trade around $106,600. The world’s largest cryptocurrency has surged more than 10% so far this month.”PANDORA’S BOX”Even cryptocurrency community participants were surprised by the launch of Trump’s meme coin. “While it’s tempting to dismiss this as just another Trump spectacle, the launch of the official Trump token opens up a Pandora (OTC:PANDY)’s box of ethical and regulatory questions,” said Justin D’Anethan, an independent crypto analyst based in Hong Kong.While the coin represented a blending of the world of decentralised finance (DeFi) into the political arena, it also “blurs the lines between governance, profit, and influence,” D’Anethan said.”Should public figures, especially those with such political clout, wield this kind of sway in speculative markets? That’s a question regulators are unlikely to ignore,” he said.Peter Schiff, chief economist and global strategist at Euro Pacific Asset Management, pointed to the jump in $TRUMP’s value and called it the new digital gold, on messaging platform X.Trump has promised to be a “crypto president”, and is expected to issue executive orders aimed at reducing crypto regulatory roadblocks and promoting widespread adoption of digital assets.He is due to assume the presidency at noon ET (1700 GMT) on Monday.The prospect of looser regulations around crypto policy has been met with fanfare by the industry and had turbocharged a rally in bitcoin following Trump’s election victory in November. More

Meanwhile, the third largest cryptocurrency by market capitalization, XRP, has experienced an impressive surge that exceeded 12%.The cryptocurrency community reacted, leaving numerous comments under the tweet. Many have taken this large XRP transfer as a bullish sign. However, data shared by the XRP-focused explorer Bithomp shows that the anonymous wallet, which made the XRP transfer, was linked to the Binance exchange. Therefore, the probability is high that this was merely an internal transfer, as Binance reshuffled its XRP holdings and spread them among new wallets.That price spike took place after the 9.21% decline XRP faced on Sunday. However, today, XRP, along with the rest of the cryptocurrency market, followed the trajectory of Bitcoin. The world’s primary crypto skyrocketed to a new all-time high of $109,114, reached two hours ago.Schwartz responded that it is not necessarily so, and the new “enemy of crypto” may never appear – and in that case, crypto fans may start attacking each other. The Ripple CTO cautioned the XRP community from doing that, saying that it is worth saving energy for fighting a new enemy if it ever appears.This article was originally published on U.Today More

WeFi, a next-generation financial platform merging DeFi and TradFi, has achieved another tier-1 exchange listing. The WFI token is now listed on BingX, one of the fastest-growing centralized exchanges with over 5.3 million monthly visitors and nearly $500 million daily transaction volume. Starting January 20, BingX users will be able to access the WFI/USDT pair on the exchange. WFI is the native token of the WeFi ecosystem. It serves as the utility backbone for various use cases, from staking and transaction fees to liquidity management and access to advanced decentralized applications. WeFi token’s previous launch on Bitmart created a strong foundation for growth. The listing on BingX builds on this progress by offering greater liquidity and accessibility to a broader user base. BingX’s established reputation and global presence make it a fitting choice for this expansion.According to the team, they will continue to prioritize ecosystem growth. Following the listing on BingX, efforts will focus on expanding partnerships, achieving more tier-1 listings, and improving the utility of WFI. Upcoming developments include the transition to WeChain, the launch of additional dApps, deeper integration of AI technologies, and ongoing improvements to the non-custodial financial services WeFi offers.The BingX listing reflects WeFi’s commitment to creating a financial ecosystem that is inclusive, transparent, and built for the future. The collaboration with BingX marks another chapter in WeFi’s journey to redefine how people interact with financial tools.About WeFiWeFi is a pioneering global blockchain ecosystem and intelligent data platform dedicated to transforming finance through the integration of AI and blockchain technology. Focused on building a more inclusive and accessible financial system, WeFi leverages AI-driven nodes to analyze transactional patterns, proactively prevent financial crime, and deliver transparency, interoperability, and real-time insights to the global finance and fintech sectors.Through its Initial Technology Offering (ITO), WeFi invites early adopters to participate in the ecosystem, earning rewards while contributing to its mission of democratizing finance and setting new regulatory standards worldwide.For more information, users can visit wechain.ai or follow them on X (formerly Twitter) for updates on $WFI and the WeFi ecosystem.ContactWeFipress@wefi.coThis article was originally published on Chainwire More

The crypto industry has been buoyed since Trump’s election victory in November, with its proponents hoping he will help usher in a new era of digital asset adoption. Trump, who previously called Bitcoin “a scam”, has pledged that America would be “the crypto capital” of the world once he returned to office.Major crypto exchanges including Coinbase (NASDAQ:COIN) and Binance have said they plan to list Trump’s memecoin token.Some 200 million of the digital tokens have been issued and another 800 million will be released in the next three years, the coin’s website said, adding that the tokens are meant as expressions of support instead of investment opportunities. The website noted that it is “not political” and “has nothing to do” with any political campaign, office, or governmental agency.”My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” Trump wrote in a post on his social media platform Truth Social.The memecoin, $Trump, which started selling for $10 each, traded as high as around $70 on Sunday. It pared back some of these gains after the launch of incoming US First Lady Melania Trump’s coin, $Melania.By 06:29 ET (11:29 GMT), $Trump was trading at $54.25, giving it market value of about $10.8 billion, according to CoinMarketCap.Meanwhile, Bitcoin notched a fresh record high on Monday, extending a recent advance in the price of the world’s most well-known cryptocurrency since Trump’s win. Bitcoin, which began last year trading at $43,000, was exchanging hands at $108,216.50 at 06:19 ET. More

MEXC, a global leader in cryptocurrency trading platforms, has officially announced the launch of the Contract Address Search, a new feature enabling traders to precisely locate target tokens by their unique contract address. The feature specifically addresses navigation challenges in the surging meme token market, and helps users identify target trading pairs with greater speed and precision, delivering a more efficient trading experience.Memecoins have evolved from internet jokes into a significant cultural and financial phenomenon, with some tokens reaching multi-billion dollar market capitalizations. As one of the earliest exchanges to embrace this emerging sector, MEXC has witnessed firsthand how these community-driven tokens have transformed retail trading. With the resurgence of the bull market and increasing prominence of memecoins, the rapid proliferation of similarly named projects has created new challenges for traders.In response, MEXC has introduced the Contract Address Search feature, allowing users to precisely locate tokens by their unique blockchain identifiers. Instead of relying on potentially confusing name-based searches, traders can now simply paste a token’s contract address into the global search or Spot market search bar to find their exact target token. This innovation reflects MEXC’s ongoing commitment to providing efficient, comprehensive trading solutions as the memecoin market continues to mature.The feature complements MEXC’s recently launched Meme+ trading zone, which has rapidly expanded to include 109 Memecoin listings since its December 24 debut. With an average of five new projects added daily, MEXC continues to enhance its platform capabilities to meet evolving market demands. This latest innovation reflects the exchange’s ongoing commitment to improving user experience and maintaining its position as a leading platform for cryptocurrency trading, particularly in emerging market segments.In the future, MEXC will continue to refine its product offerings, further enhancing the security and convenience of its cryptocurrency trading services for users.About MEXCFounded in 2018, MEXC is dedicated to being “Your Easiest Way to Crypto.” Known for its extensive selection of trending tokens, airdrop opportunities, and low fees, MEXC serves over 30 million users across 170+ countries. With a focus on accessibility and efficiency, our advanced trading platform appeals to both new traders and seasoned investors alike. MEXC provides a seamless, secure, and rewarding gateway to the world of digital assets.MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC ｜Futures TradingContactPR ManagerLucia Hulucia.hu@mexc.comThis article was originally published on Chainwire More

A favorable macro environment and rising trading volumes have helped Bitcoin maintain its upward trend over the past week. BTC is reclaiming the 50, 100 and 200 EMA’s on the daily chart indicating that the bullish trend is still in place. With an RSI of 63 the market is showing moderate strength but still has room to rise before reaching overbought territory. The $105,000 mark is a formidable obstacle.In order to maintain its current rally Bitcoin must decisively break through this strong resistance level which is in line with earlier peaks on the chart. The market may reach $110,000 a level not seen since the start of the last significant bull run if this breakout is successful. A retracement with support levels at $98,000 and $95,000 might occur if the price fails to break $105,000. These levels which were once important resistances are now serving as solid support areas which could reduce Bitcoin’s downside risk. Since BTC’s recent price action suggests growing institutional and retail interest, the general market sentiment is still cautiously optimistic. In the medium term, the macroeconomic environment which anticipates slower interest rate increases contributes to the optimistic outlook for Bitcoin. The most important level to keep an eye on for traders and investors is the $105,000 mark. Strong volume combined with a clear move above this area could support the bullish argument for Bitcoin and pave the way for future gains. Failure to hold above $105,000 however might indicate a brief halt in the rally. The asset has found support above the 50 and 100 EMA on the daily chart demonstrating XRP’s outstanding performance. Additionally RSI levels close to 68 indicate that XRP is still in a healthy bullish phase without being overbought. The next significant target for bullish investors is $3.5 where XRP is currently trading at $3.13. A possible breakthrough would indicate further upward momentum as this level represents a psychological and technical barrier. In contrast if current levels are not maintained XRP may retetest support at $3 or even $2.75. Additionally on-chain metrics present a favorable image of XRP. In recent days there have been over 1 trillion account-to-account payments indicating an increase in network usage and activity. The asset’s growing popularity has also been supported by the steady increase in the number of active accounts. The fact that XRP can sustain high trading volumes—currently surpassing $230 million on its bullish candles—further demonstrates its dominance. This volume of activity suggests that institutional and retail investors are still interested. In the future XRP’s path toward $3. 5 depends on both ongoing on-chain strength and general market conditions. A successful break of $3.5 might pave the way for additional gains making the $4 mark a realistic target. However traders should continue to be on the lookout for possible retracements particularly if market sentiment changes or volume declines. There had previously been no significant price recovery due to these levels. A strong bullish signal that confirms the potential for a trend shift is provided by breaking above these thresholds. The asset is currently trading above $280 indicating a high level of market confidence. After Solana firmly broke out of its descending channel which had kept the asset under selling pressure for weeks there was another significant breakout. By making the bearish structure invalid this move prepares the way for more bullish continuation. Furthermore the fact that Solana’s RSI has hit 78 indicates strong momentum. This confirms the strength of the buying pressure propelling the rally even though it also points to some overbought conditions. The volume increase has also been significant. During this rally, Solana’s trading volume reached a new high indicating heightened market participation and interest. In order to sustain the current upward trend this is a crucial component.Looking ahead the $300 mark may serve as a psychological barrier as Solana encounters its next significant resistance. If this breakthrough is successful it may lead to higher targets of $350 or more. For the asset to continue its bullish outlook on the downside support above $250 must be maintained. This article was originally published on U.Today More

Bitcoin jumped over 3% in the span of minutes, hitting a record high of $109,118.The crypto rose in volatile trade, with crypto market volatility having ramped up over the weekend after Trump launched his own memecoin, $TRUMP, to outsized demand. The token became one of the most valuable cryptocurrencies in less than a day, but logged wild swings in the process.Trump is set to take office from 12:00 ET (17:00 GMT) on Monday.The President-elect has promised to dole out crypto-friendly regulations during his second term, and has vowed to make America the “crypto capital” of the world.While Trump did nominate several pro-crypto candidates to key regulatory positions, markets were uncertain over what policies he will outline, given that some of his more ambitious promises, such as a Bitcoin Strategic Reserve, could require Congressional approval.Uncertainty over the impact of Trump’s policies on the broader economy, especially given his hardline stance on immigration and trade, kept risk appetite subdued. Crypto markets initially cheered the launch of Trump’s memecoin, $TRUMP, which accelerated sharply since its launch on Friday. The token was seen rallying over 7000% within hours of its launch, gaining a market capital of over $14 billion. But the token was then subjected to heavy profit-taking, falling sharply from its weekend peaks. Trump also drew flak for launching a new memecoin themed around to-be First Lady Melania Trump, $MELANIA, with crypto traders raising some concerns over the ethical implications of Trump leveraging his political status to turn speculative markets in his favor. The launch of $TRUMP, of which the President-elect holds a significant number of tokens, greatly boosted his personal wealth, at least on paper. Broader crypto prices were a mixed bag, as traders remained somewhat skeptical towards altcoins amid an ongoing speculative frenzy in memecoins. World no.2 crypto Ether rose 3.5% to $3,390.65, while XRP was flat at $3.2024. Solana, Cardano, and Polygon steadied after recouping a bulk of their earlier losses, while among meme tokens, Dogecoin lost 4.7%.  More