The fall of crypto assets occurred after the president of the United States, Donald Trump, did not mention either the sector or bitcoin during his inauguration, nor in his government’s first measures.
The US is one of the countries with the largest holdings of cryptocurrencies. In this framework, the SEC announced that it created a working group to advance regulation and this generated an immediate improvement in market sentiment. In that context, this Monday, January 22, Bitcoin rises 1.6% to $105,465, according to Binance. Meanwhile, Ethereum remains at US$3,300. For their part, the rest of the cryptocurrencies advance up to 7.9% Solana, TRON (5.2%) and SUI (3.2%).
The The fall of crypto assets occurred after the president of the United States, Donald Trump will not mention either the sector or bitcoin during his inauguration, nor in the first measures of his government. However, according to Bloomberg, cryptoassets remain one of the Trump administration’s economic priorities.
Recently, the Securities and Exchange Commission (SEC) announced the creation of a “cryptocurrency task force”whose objective is to develop a clear and complete regulatory framework for cryptoassets. This group will be led by Hester Peirce, one of the most pro-cryptocurrency commissioners within the regulator. The group’s mission will be to provide clear regulatory guidelines, facilitate registration, develop appropriate disclosure frameworks and ensure effective compliance with the law.
He SEC announcement sparked optimism in the sector, as a favorable regulatory approach is expected to reduce the burden on cryptocurrencies and create a more conducive environment for innovation and the growth of blockchain technologies that support assets such as bitcoin.
Trump also appointed Caroline Pham as chair of the Commodity Futures Trading Commission (CFTC), who is also pro-crypto assets.
Trump-linked tokens surge 900%
Meanwhile, heThe meme tokens of Trump, TRUMP and MELANIAhad a spectacular increase, with an increase close to 900% since launchreaching a market capitalization of more than US$9 billion. Both tokens, although popular, lack intrinsic value and their value depends on speculative bets on their price.
In this context, exchange-traded fund (ETF) issuer Rex Shares and crypto asset manager Osprey Funds have filed for several cryptocurrency-focused ETFs, including one for TRUMP. Although the initiative has been criticized by experts, such as Bloomberg’s James Seyffart, who sees it as a way to test the limits with the new SEC administration, the market continues to react to these proposals.
Source: Ambito
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