CoinDesk’s Coverage of Crypto’s New Era
As the New Presidency and Regulatory Environment Take Shape
CoinDesk’s coverage kicked into high gear this week as crypto readied for a new presidency and a new regulatorily-friendly era.
Some Highlights
Senior analyst James Van Straten reported on a wave of companies buying bitcoin for their balance sheets, following a model pioneered by MicroStrategy’s Michael Saylor.
Markets reporter Krisztian Sandor followed the rise of Solana’s SOL, XRP, and Hedera’s HBAR on rumors that Trump might support an America-first crypto “reserve” to complement a national bitcoin holding.
Markets Co-Managing Editor Omkar Godbole delved into why bitcoin continues to be in a trough price-wise. But he said the recent selloff won’t hurt long-term institutional adoption.
Ian Allison, senior reporter, caught up with new Binance.US chief Norman Reed, who revealed how SEC officials had tried to choke off the exchange’s banking relationships as part of its 2022 investigation.
Asia reporter Sam Reynolds looked into how regulators in several countries had recently tried to ban Polymarket as prediction markets contend with gambling laws. (Kalshi, however, gained Donald Trump Jnr. as an advisor, showing how the U.S. may now become a safe haven for crypto companies.)
In a preview of what is expected to be a vibrant time for M&A activity, Ctrl Wallet, a self-custody wallet, revealed that it is up for sale, Allison reported.
Crypto ETFs Expected to Surge in Volume
Meanwhile, crypto ETFs are expected to surge in volume, following 2024’s seismic debut. Litecoin, an early bitcoin clone, is the next project expected to get official approval for ETF trading, reporter Tom Carreras said.
Helene Braun followed up to say that a Litecoin ETF could attract $580 million in inflows, if the vehicle proves as attractive as bitcoin was last year.
Regulatory Front
On the regulatory front, Deputy Managing Editor Jesse Hamilton reported the Trump administration wants to make crypto’s “de-banking” issues a first order of concern.
Meanwhile, the SEC and CFTC continued to clear-house of “anti-crypto” officials, preparing the way for new administrators to join in the coming weeks, Hamilton said.
As the Weekend Approaches
As the weekend approaches, the crypto world was set to descend on Washington D.C. for a series of inauguration parties and balls.
CoinDesk will have full live coverage on Monday, so stay tuned.
Conclusion
In conclusion, CoinDesk’s coverage this week highlights the excitement and uncertainty surrounding crypto’s new era. With a new presidency and regulatory environment taking shape, the future of crypto is looking brighter than ever.
FAQs
Q: What is the significance of the Trump administration’s support for crypto?
A: The Trump administration’s support for crypto could lead to a more favorable regulatory environment, making it easier for companies to operate in the space.
Q: What is the impact of the recent selloff on long-term institutional adoption?
A: According to Omkar Godbole, the recent selloff won’t hurt long-term institutional adoption, as institutions are more focused on the long-term potential of crypto.
Q: What is the significance of the SEC and CFTC clearing-house of “anti-crypto” officials?
A: The clearing-house of “anti-crypto” officials is a sign that the regulatory environment is shifting in favor of crypto, paving the way for new administrators to join in the coming weeks.
Q: What is the expected impact of the Litecoin ETF on the market?
A: The Litecoin ETF is expected to attract $580 million in inflows, if the vehicle proves as attractive as bitcoin was last year.
