Trump's crypto promises - was this all for show

Plus: People vs. robots – who’s quicker?

GM. Feeling somewhat pulp-struck by the newest headlines? Let’s press these market updates into one thing easy and refreshing.

🇺🇸 What did Donald Trump do on Day One?

🍋 Information drops: Vitalik Buterin’s response to criticism, people vs. robots race in China + extra

Table of Contents

🍍 Market taste right this moment

Yeahh, so yesterday was kinda embarrassing for all those that advised everybody at work, “f*ck off, I am outta right here after January 20 anyway” (P.S. Should you need assistance with an apology message to ship on Slack, hmu).

The crypto group anticipated Donald Trump to present crypto a shout-out both in his inauguration speech or by way of an govt order. Spoiler: did not occur.

Naturally, the glass began trying half-empty for a lot of traders, so Bitcoin took a step again from the $109K stage it reached yesterday to simply over $100K.

Nonetheless, the Concern & Greed Index exhibits that traders stay fairly hyped about what’s subsequent.

Duh, simply because crypto did not get talked about yesterday doesn’t suggest the subject’s off the desk for good. Matter of reality, MacroScope identified that mentioning Bitcoin in that speech would’ve been inappropriate on the whole.

And hey, you understand what they are saying – when doubtful, zoom out:

Crypto markets, man. At some point they’re providing you with a motive to be cocky; the following, they watch you journey over your individual confidence.

However… what would not kill you makes you stronger?.. Proper?..

🥝 Memecoin harvest

The recipe for right this moment’s memecoins: half joke, half hype, 100% sending 🚀

Identify

24H Change

Barron William Trump BWT

▲15.3K%

Justice for ZachXBT ZACHXBT

▲12.2K%

TrustInWeb3 T3AI

▲198%

QudeAI Framework QUDE

▲123%

Information as of 06:40 AM EST.

Take a look at these memecoins and lots extra right here.

… at some point, for now.

Like we mentioned earlier than, Trump did not do a lot for crypto on his first day in workplace – no strategic Bitcoin reserve bulletins, no Ross Ulbricht pardons, mainly nothing that was promised for this business.

That mentioned, we won’t say that completely nothing entertaining occurred:

1/ Reactions to Trump memecoins

Bear in mind the TRUMP and MELANIA mess we talked about yesterday? (These of you who did not learn it 🤨, test it out right here).

Properly, California Rep. Maxine Waters wasn’t amused. Hell, she was even involved. Her take:

It is a money seize driving on Trump’s identify, with zero actual worth;

Individuals shopping for in may find yourself caught with nugatory tokens if insiders promote out;

The shortage of transparency about who purchased the token could possibly be a nationwide safety subject since international adversaries or sanctioned people had been capable of switch cash to him anonymously;

It makes crypto look much more untrustworthy.

2/ SEC says bye to Gary Gensler

It is official: yesterday was Gary Gensler’s final day as SEC Chair.

Of their farewell assertion, the fee thanked him for his “diligence and creativity,” which is code for, “You actually needed to assume outdoors the field to file 100+ lawsuits towards crypto corporations.”

So lengthy, Gary. Hope we by no means need to cross paths once more! 🥰

3/ New faces (type of)

Mark Uyeda will briefly exchange Gensler as Chair on the SEC – till Trump’s nominee (Paul Atkins) will get confirmed by the Senate. We like Uyeda 😃👍 – he was vital of Gensler’s strict strategy to crypto;

In the meantime, Caroline Pham is stepping in as Performing CFTC Chair. We additionally like her 😃👍 – she’s been calling for higher crypto laws for some time now.

4/ DOGE updates

Sure, Trump signed an govt order to create the Division of Authorities Effectivity (DOGE), and sure, the official website options Dogecoin 🥹

And you understand what? They already did their first “effectivity minimize” – Vivek Ramaswamy, who was purported to co-lead DOGE with Elon Musk, stop earlier than something even began.

He is obtained ✨ larger desires ✨ now – operating for Ohio governor.

Rumor additionally has it there’s some pressure between him and Musk, particularly after Vivek’s rant about how American tradition has “commemorated mediocrity over excellence” and the way that is the rationale why huge tech corporations have a tendency to rent international engineers.

Both manner, all this drama has been nice for Dogecoin:

Aaaand that is the tea for now. Yeah, day one did not deliver a crypto revolution, however we did get a weird begin – which may be very on-brand for crypto.

Liking the juice? 🍋 Don’t gatekeep this one – share the Every day Squeeze and let your mates get a style of Web3 sweetness!
Truthful warning, tho’: you’ll have to hold the load of turning into a hero.

🍋 Information drops

🗑 Trump hasn’t signed off on something crypto-related but, however he did scrap Biden’s govt order on AI. This order required AI builders to share security checks with the federal government to assist keep away from main dangers.

💬 Individuals are urging the Ethereum Basis to stake its Ether and earn curiosity as an alternative of promoting tokens to cowl bills. In response, Vitalik Buterin mentioned they’re engaged on methods to ease their staking worries.

🏃 China’s cooking up one thing that seems like a sci-fi fever dream: 12,000 people vs. a military of humanoid robots in a 21-kilometer race. And it is not only for present both; money prizes are on the road, whether or not you are powered by muscle groups or motherboards.

🤝 The Hashgraph Affiliation teamed up with Taurus, a digital asset infrastructure supplier. They’re making it simpler for banks and large corporations to soundly stash, stake, and tokenize HBAR and different belongings.

🇲🇹 The Winklevoss twins’ crypto change, Gemini, selected Malta to arrange their compliance hub. The aim? To make sure they’re totally aligned with Europe’s new MiCA laws.