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Wall Street’s biggest banks are finally backing Trump’s pro-crypto agenda after his new executive order cleared regulatory hurdles. Trump stacked his administration with crypto advocates, like SEC pick Paul Atkins and Treasury nominee Scott Bessent, to drive his plans. The SEC scrapped its restrictive accounting rule, SAB 121, letting banks hold crypto without the crushing capital requirements.
TRUMP token’s decline from its $79 peak reflects waning interest and trading momentum. Can breaking $34 spark a sustainable recovery?
Deciphering Bitcoin's Market Behavior: Crucial Price Points under the Microscope as Financial Experts Brace for FOMC Decision
XRP's Surprising Performance: A Disruptor to U.S. BTC Reserves or Speculation Bubble in the Making?
Major token unlock events are scheduled next week for Optimism and other projects, releasing previously blocked tokens under fundraising terms. These events can lead to price volatility based on market conditions and investor reactions.
Quick Take This is an excerpt from the 20th edition of The Funding sent to our subscribers on Jan. 26. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
Quick Take The Metropolitan Museum of Art has launched a new blockchain-powered game in conjunction with TRLab that rewards players for finding connections between different works of art with NFT badges and a chance to win one of 500 Met-related prizes. The Met’s first foray into blockchain and NFT technology has the goal of deepening audience engagement with the museum’s works.
- 13:36A certain TST trader turned a floating loss of 1.13 million US dollars into a floating profit of 4 million US dollarsAccording to Onchain Lens monitoring, a trader (@XXAntiWar) previously spent 5,089 BNB (approximately 3.17 million USD) to purchase 16.25 million TST at an average price of $0.195 per unit. At one point, there was a floating loss of 1.13 million USD, but now there is a floating profit of 4 million USD.
- 13:33US Senator Cynthia Lummis: If we set up a strategic reserve of 1 million Bitcoins, it could reduce half of America's debt in the next 20 yearsThe proposer of the "Bitcoin Strategic Reserve Act" and Chairwoman of the Senate Banking Digital Assets Subcommittee, Cynthia Lummis, stated that if we use 5% of the total amount of Bitcoin (about 1 million Bitcoins) to establish a reserve, then US debt can be reduced by half within the next 20 years.
- 13:24Stacks Joint Creation: I and my family's investment entity increased our holdings by 10 million US dollars in STX yesterdayStacks co-founder Muneeb Ali posted on the X platform stating that he and his family's investment entity added a position of 10 million US dollars in STX yesterday. Muneeb Ali stated that the BTC/STX ratio is the same as it was five years ago, and believes that Stacks technology is at an all-time high. The Bitcoin L2 market opportunity is huge, but this information is not financial advice.