Bitcoin Price: US$ 87,424.56 (-3.35%)
Ethereum Price: US$ 3,058.82 (-4.03%)
Bitcoin’s unprecedented rally following Donald Trump’s election is projected to continue, with VanEck forecasting a price target of $180,000 in 2024. Matthew Sigel of VanEck highlighted growing interest from investment advisers, robust market indicators, and rising adoption as key factors driving repeated all-time highs over the next two quarters, supported by increased Google searches and the popularity of crypto apps like Coinbase. President-elect Trump is considering appointing crypto-friendly Summer Mersinger as chair of the CFTC, signaling a potential regulatory shift for the cryptocurrency market. Known for opposing “regulation through enforcement,” Mersinger’s appointment could pave the way for a more supportive environment for crypto, potentially advancing crypto ETFs and alleviating regulatory pressures on firms like Coinbase, which has already benefited from a significant post-election stock surge. Furthermore, 18 U.S. states have filed a lawsuit against the SEC and Chair Gary Gensler, accusing the agency of overreach and stifling the crypto industry with costly litigation. As Trump prepares to take office, a leadership overhaul at the SEC is expected, with critics of Gensler’s enforcement-driven approach advocating for replacements like Mark Uyeda or Dan Gallagher, who are likely to champion more industry-friendly and innovation-focused policies.
Tether has unveiled the “Hadron” real-world asset tokenisation platform, allowing businesses, asset managers, and nation-states to tokenise assets like stocks, bonds, and commodities while incorporating robust KYC and AML controls. Alongside this innovation, Tether is expanding into energy and commodities markets, including oil trading and a boron-backed token proposal, while reporting strong financials with $2.5 billion in Q3 profits and $134 billion in total assets. PancakeSwap has launched a Telegram Swap Bot, enabling users to trade over 3,000 cryptocurrencies directly via Telegram with enhanced encryption and self-custodial wallet integration for added security. This initiative aligns with the trend of making DeFi more accessible, complementing PancakeSwap’s partnership with Bril Finance to integrate portfolio management features that deliver higher risk-adjusted returns through automated liquidity management. Simultaneously, the European Banking Authority (EBA) has introduced guidelines for payment and crypto service providers to comply with restrictive measures, strengthening governance and reducing legal risks. Set to take effect in December 2025, these rules mandate the use of reliable screening systems to enforce EU sanctions and bolster the bloc’s AML and CFT framework, ensuring stricter compliance across financial ecosystems.
President-elect Donald Trump’s World Liberty Financial has partnered with Chainlink to integrate real-time, tamper-proof price feeds on Ethereum’s mainnet for its DeFi platform built on Aave v3. This collaboration highlights Chainlink’s continued dominance as the leading oracle provider, securing 46% of total value across oracles despite competition from networks like Pyth, and follows its recent tokenisation pilot program with SWIFT. In Pennsylvania, Representative Mike Cabell introduced a bill to permit the state treasury to allocate up to 10% of its funds in Bitcoin as a hedge against inflation, reflecting national Republican plans for a strategic Bitcoin reserve. This initiative aligns with the state’s recent legislative advancements in self-custody protections and crypto payment frameworks, showcasing the growing Republican embrace of Bitcoin as a tool to address economic volatility. Meanwhile, Sygnum Bank’s annual survey found that 57% of institutional investors plan to increase their crypto allocations, driven by regulatory clarity and the introduction of Bitcoin spot ETFs. Despite challenges like high market volatility and security concerns, institutional interest is pivoting toward scalable layer-1 solutions such as Bitcoin and Solana, as well as emerging Web3 infrastructure, underscoring long-term confidence in digital assets even as interest in decentralised finance wanes due to frequent high-profile hacks.
Source: https://cointelegraph.com
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