CoinDesk’s coverage heated up this week as crypto prepared for a new presidency and a new regulatory-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.
Market reporter Krisztian Sandor followed the rise in Solana’s SOL, XRP and Heder’s HBAR on rumors that Trump could support an America-first crypto “reserve” to complement a national bitcoin stockpile.
Markets Co-Managing Editor Omkar Godbole delved into why bitcoin remains at a price low. But he said the recent selloff won’t hurt long-term institutional adoption.
Ian Allison, senior reporter, caught up with new Binance.US CEO Norman Reed, who revealed how SEC officials had tried to stifle the exchange’s banking connections as part of its 2022 investigation.
Asia reporter Sam Reynolds investigated how regulators in several countries had recently tried to ban Polymarket as the prediction markets grapple with gambling laws. (However, Kalshi got Donald Trump Jnr. as an advisor, showing how the US can now become a safe haven for crypto companies.)
In a preview of what is expected to be a brisk time for M&A activity, Ctrl Wallet, a self-service wallet, revealed it is for sale, Allison reported.
Meanwhile, crypto ETFs are expected to surge in volume after 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 by saying a Litecoin ETF could attract $580 million in inflows if the vehicle proves as attractive as bitcoin was last year.
On the regulatory front, Deputy Managing Editor Jesse Hamilton reported that the Trump administration wants to make crypto’s “de-banking” issue a first order of concern.
Meanwhile, the SEC and CFTC continued to clear out “anti-crypto” officials, paving the way for new administrators to join in the coming weeks, Hamilton said.
As the weekend approaches, the crypto world was set to descend on Washington DC for a series of inauguration parties and prom.
CoinDesk will have full live coverage on Monday, so stay tuned.
