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- President Trump Pardons Silk Road Founder Ross Ulbricht From Jail
President Trump Pardons Silk Road Founder Ross Ulbricht From Jail
News on the Blockchain
January 22, 2025
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News on the Blockchain, January 22nd, 2025
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🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 9.81M+
Exchanges: 778
Market Cap: $3.64T (+3.72%)
24h Volume: $198.88B (-36.83%)
Bitcoin Dominance: 57.54%
Ethereum Dominance: 11.03%
ETH Gas Price: 7.31 Gwei
Fear & Greed Index: 66/100 (Greed)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $105,731.25 | +2.83% | $2.09T | $78.49B |
Ethereum (ETH) | $3,326.63 | +2.19% | $400.86B | $29.42B |
Tether (USDT) | $1.00 | +0.14% | $138.56B | $157.85B |
BNB (BNB) | $696.04 | +2.20% | $100.23B | $1.89B |
Solana (SOL) | $254.40 | +7.52% | $123.80B | $9.32B |
💹 Market Highlights:
Total DeFi Volume: $11.09B (5.58% of total market volume)
Stablecoins Volume: $181.62B (91.32% of total market volume)
Coin with highest % change: TRUMP (+5472.95%)
🚀 Trending on DexScan:
Stargate/SOL: $0.02270 (+2750%)
IVANKA/SOL: $0.0004217 (+179%)
FIFTY/SOL: $0.003304 (+1547%)
FARTGIRL/SOL: $0.001220 (+1863%)
WLFI/SOL: $0.01182 (+67.50%)
📈 Preview On Today’s News:
- SEC Launches Crypto Task Force to Develop Clear Regulations
- Banking’s Crypto Revolution: Bank of America CEO Supports Adoption
- SEC Launches Crypto Task Force to Develop Clear Regulations
Keep reading below for more!
Today’s News:
1)
President Trump Pardons Silk Road Founder Ross Ulbricht From Jail
Former President Donald Trump has issued a full and unconditional pardon for Ross Ulbricht, the creator of the darknet marketplace Silk Road, who had been serving two life sentences plus 40 years since 2015. Ulbricht’s platform facilitated illegal transactions primarily in Bitcoin, leading to charges including drug trafficking and money laundering. Trump described the punishment as “ridiculous” and politically motivated, citing support from Senator Rand Paul, who called the sentence disproportionate. The pardon, announced on January 21, underscores the ongoing debate over justice in nonviolent cryptocurrency-related cases.
Trump pardoned Ross Ulbricht, who was sentenced to two life terms plus 40 years for running Silk Road, citing the punishment as disproportionate and politically motivated.
Ulbricht's pardon, supported by Senator Rand Paul, highlights ongoing concerns about fairness in sentencing for nonviolent cryptocurrency offenses.
2)
Banking’s Crypto Revolution: Bank of America CEO Supports Adoption
Bank of America CEO Brian Moynihan has expressed confidence that the banking industry is ready to embrace cryptocurrency, provided regulators permit such operations. Speaking to CNBC, Moynihan highlighted the potential for crypto to become a mainstream payment method alongside Visa, MasterCard, and Apple Pay. He emphasized that Bank of America has hundreds of blockchain patents, showcasing its preparedness for regulatory approval. This statement comes amidst the pro-crypto stance of the new U.S. administration under President Donald Trump, with anticipated regulatory shifts expected to drive rapid financial sector adoption of cryptocurrency.
Bank of America CEO Brian Moynihan believes the banking industry will embrace cryptocurrency as a mainstream payment method once regulators give approval, citing the bank's blockchain readiness.
The pro-crypto stance of President Donald Trump's administration is expected to initiate regulatory changes, accelerating financial institutions' adoption of crypto.
3)
SEC Launches Crypto Task Force to Develop Clear Regulations
The U.S. Securities and Exchange Commission (SEC) has launched a new crypto task force to create a comprehensive regulatory framework for digital assets. The initiative comes under the leadership of newly appointed Acting Chair Mark Uyeda, following Gary Gensler’s resignation. This marks a shift from the previous administration's enforcement-driven approach to regulation, with the SEC aiming for greater collaboration and clarity. Commissioner Hester Peirce will lead the task force, which seeks to establish transparent guidelines and position the U.S. as a global leader in crypto regulation. The announcement aligns with the priorities of President Donald Trump’s second term.
The SEC's newly announced crypto task force aims to establish a clear regulatory framework, marking a departure from prior enforcement-focused strategies.
Led by Commissioner Hester Peirce, the task force seeks to collaborate with the public and industry, striving to position the U.S. as a leader in crypto regulation.
Disclaimer:
The information provided in this newsletter is based on our data findings and opinions. It is intended for informational purposes only and should not be considered financial advice. Cryptocurrency investments carry significant risk, and it is important to conduct your own research and consult with a qualified financial advisor before making any investment decisions. We are not responsible for any financial losses or gains you may incur as a result of using this information.
