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- BlackRock Optimistic About Bitcoin’s Future Under Trump Administration
BlackRock Optimistic About Bitcoin’s Future Under Trump Administration
News on the Blockchain
November 20, 2024
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@newsontheblockchain, November 20, 2024
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🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 762
Market Cap: $3.11T (0.97% ↑)
24h Volume: $180.28B (6.04% ↓)
Bitcoin Dominance: 59.32%
Ethereum Dominance: 12.09%
ETH Gas Price: 11.76 Gwei
Fear & Greed Index: 83 (Extreme Greed)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $93,381.10 | +1.87% | $1.85T | $76.57B |
Ethereum (ETH) | $3,120.42 | +0.42% | $375.78B | $27.93B |
Tether (USDT) | $1.00 | +0.02% | $128.87B | $144.97B |
Solana (SOL) | $237.85 | -3.07% | $112.89B | $6.68B |
Binance Coin (BNB) | $615.17 | -0.09% | $88.59B | $2.10B |
💹 Market Highlights:
Total DeFi Volume: $8.72B (4.83% of total 24h volume)
Stablecoins Volume: $165.56B (91.83% of total 24h volume)
Coin with highest % change: MAD (+106.84%)
🔥Heat Map:
📈 Preview On Today’s News:
- BlackRock Optimistic About Bitcoin’s Future Under Trump Administration
- Dusty Johnson Leads New Digital Assets Subcommittee to Reform Crypto Regulation
- Trump Media in Talks to Acquire Crypto Firm Bakkt
Keep reading for more!
Today’s Important News:
1)
BlackRock Optimistic About Bitcoin’s Future Under Trump Administration
BlackRock has expressed renewed optimism about Bitcoin's future following Donald Trump's 2024 election victory, citing his promise to establish a strategic Bitcoin reserve. The asset manager believes that Trump's return to the White House could bring much-needed regulatory clarity to the cryptocurrency industry, which has faced uncertainty due to the SEC's aggressive enforcement. BlackRock anticipates that the new administration’s stance on Bitcoin could further propel institutional investment and mainstream adoption, with some suggesting that a Bitcoin reserve could be in place within the first 100 days of Trump's presidency.
BlackRock sees a “renewed sense of optimism” for Bitcoin with Trump's election win, anticipating regulatory clarity and institutional growth.
Trump’s promise to create a strategic Bitcoin reserve could have a significant impact on the future of cryptocurrency in the US.
2)
Dusty Johnson Leads New Digital Assets Subcommittee to Reform Crypto Regulation
Republican Representative Dusty Johnson from South Dakota will chair the newly formed Digital Assets and Rural Development Subcommittee, focusing on legislation for digital commodity exchanges. Johnson is advocating for the Commodity Futures Trading Commission (CFTC) to have greater oversight over the crypto market, signaling potential changes to crypto exchange operations and regulatory practices. His work on the Financial Innovation and 21st Century Technology (FIT21) Act is paving the way for significant shifts in how crypto exchanges operate, with a potential review of related bills in 2025.
Dusty Johnson is leading a new subcommittee focused on digital assets and advocating for CFTC oversight in crypto regulation.
Legislative changes may significantly affect crypto exchanges, with a review of the bill anticipated in 2025.
3)
Trump Media in Talks to Acquire Crypto Firm Bakkt
Trump Media is in advanced discussions to acquire Bakkt, a crypto company founded by ICE (parent of the NYSE), as part of its strategy to expand into digital assets. Bakkt, which has undergone several pivots since its launch in 2019, is now focusing on business-to-business (B2B) solutions and has plans for an institutional trading platform. Despite recent financial losses, Bakkt's valuation has surged, particularly after the acquisition talks were made public. Observers speculate that Trump Media’s interest in Bakkt may stem from potential crypto-friendly policies in a pro-crypto presidency or even a Bitcoin Reserve concept.
Trump Media is negotiating to acquire Bakkt as part of its strategic expansion into digital assets, despite Bakkt’s financial struggles.
Speculation surrounds Trump Media’s interest in leveraging Bakkt for a Bitcoin Reserve or other crypto strategies, with Bakkt’s valuation rising following news of the acquisition talks.
