The post Weekly Crypto Roundup: Trump, SEC Shakeups, and, Bitcoin’s Big Moves appeared first on Coinpedia Fintech News
This week has been eventful for the cryptocurrency market, with major price movements, regulatory updates, and significant developments. The global crypto market cap saw a slight uptick, reaching $3.61 trillion, while the crypto fear and greed index remained neutral at 60. Here’s a breakdown of the top stories from this week.
Trump’s Inauguration Speech Miss Crypto
The week started with Donald Trump’s swearing-in ceremony as the 47th President of the United States. Many had called him the “crypto president” during his campaign due to his pro-crypto stance and plans to make the U.S. a crypto hub.
However, during his inauguration speech, Trump did not mention cryptocurrencies. This caused Bitcoin’s price to fall to $103,000, with $430 million worth of liquidations hitting the market.
Gary Gensler Resigns; Mark Uyeda Steps In
Just before the inauguration, Gary Gensler stepped down as SEC Chairman. President Trump appointed Mark Uyeda, a pro-crypto advocate, as interim chairman. This change has raised hopes for a more crypto-friendly regulatory approach in the U.S.
Ripple’s Legal Fight: SEC Appeal Might Fail
The SEC filed an appeal against the 2023 XRP ruling, arguing that XRP sales should not be treated differently between institutional and retail investors.
Legal expert John Deaton believes the SEC’s appeal is weak. He noted that Judge Torres, who ruled in Ripple’s favor last year, would likely deliver the same outcome if the case returned to her.
MicroStrategy Buys More Bitcoin
Michael Saylor’s company, MicroStrategy, purchased 11,000 Bitcoin for $1.1 billion this week. This brings the company’s total Bitcoin holdings to 461,000 BTC, bought at an average price of $63,610 each.
Kenya Plans New Crypto Laws
Kenya introduced a new bill, the Virtual Asset Service Providers Bill 2025, which requires crypto companies to set up offices in the country. This move aims to regulate the growing digital asset industry and ensure greater transparency.
Ross Ulbricht Receives Trump’s Pardon
In a major decision, President Trump granted a full pardon to Ross Ulbricht, the founder of the Silk Road marketplace. This fulfills a campaign promise and has drawn mixed reactions from the crypto community.
Bank of Japan Hikes Interest Rates
The Bank of Japan raised its interest rates by 25 basis points, marking its first big hike since 2007. This decision comes as Japan faces rising inflation, with core CPI growing by 3% year-over-year in December.
Bitcoin and Ethereum ETFs See Strong Inflows
Bitcoin ETFs recorded $1.757 billion in inflows this week, led by companies like BlackRock, Fidelity, and Ark Investment. Ethereum ETFs also saw inflows of $154.3 million, highlighting the growing interest from institutional investors.
Top Weekly Gainers:
Onyxcoin (XCN): +265%, now priced at $0.039.
Lido DAO (LDO): +25%, reaching $2.20.
GateToken (GT): +23.7%, trading at $25.4.
Top Weekly Losers:
Official Trump (TRUMP): -56%, priced at $29.43.
Fartcoin (FARTCOIN): -46%, down to $1.32.
ai16z token: -26%, now at $0.83.
This week’s news highlights how global events, regulatory changes, and market trends continue to shape the crypto world.