Trump's crypto promises - was this all for show

Plus: People vs. robots – who’s quicker?

GM. Feeling a bit pulp-struck by the most recent headlines? Let’s press these market updates into one thing clean and refreshing.

🇺🇸 What did Donald Trump do on Day One?

🍋 Information drops: Vitalik Buterin’s response to criticism, people vs. robots race in China + extra

🍍 Market taste as we speak

Yeahh, so yesterday was kinda embarrassing for all those that informed everybody at work, “f*ck off, I am outta right here after January 20 anyway” (P.S. For those who need assistance with an apology message to ship on Slack, hmu).

The crypto group anticipated Donald Trump to provide crypto a shout-out both in his inauguration speech or by way of an government order. Spoiler: did not occur.

Naturally, the glass began trying half-empty for a lot of buyers, so Bitcoin took a step again from the $109K degree it reached yesterday to only over $100K.

Nonetheless, the Worry & Greed Index reveals that buyers stay fairly hyped about what’s subsequent.

Duh, simply because crypto did not get talked about yesterday doesn’t suggest the subject’s off the desk for good. Matter of truth, MacroScope identified that citing Bitcoin in that speech would’ve been inappropriate usually.

And hey, you understand what they are saying – when unsure, zoom out:

Crypto markets, man. At some point they’re providing you with a cause to be cocky; the subsequent, they watch you journey over your individual confidence.

However… what would not kill you makes you stronger?.. Proper?..

🥝 Memecoin harvest

The recipe for as we speak’s memecoins: half joke, half hype, 100% sending 🚀

Title

24H Change

Barron William Trump BWT

▲15.3K%

Justice for ZachXBT ZACHXBT

▲12.2K%

TrustInWeb3 T3AI

▲198%

QudeAI Framework QUDE

▲123%

Information as of 06:40 AM EST.

Take a look at these memecoins and many extra right here.

… at some point, for now.

Like we stated earlier than, Trump did not do a lot for crypto on his first day in workplace – no strategic Bitcoin reserve bulletins, no Ross Ulbricht pardons, mainly nothing that was promised for this trade.

That stated, we won’t say that completely nothing entertaining occurred:

1/ Reactions to Trump memecoins

Keep in mind the TRUMP and MELANIA mess we talked about yesterday? (These of you who did not learn it 🤨, test it out right here).

Nicely, California Rep. Maxine Waters wasn’t amused. Hell, she was even involved. Her take:

It is a money seize using on Trump’s identify, with zero actual worth;

Individuals shopping for in may find yourself caught with nugatory tokens if insiders promote out;

The shortage of transparency about who purchased the token could possibly be a nationwide safety challenge since overseas adversaries or sanctioned people had been in a position to switch cash to him anonymously;

It makes crypto look much more untrustworthy.

2/ SEC says bye to Gary Gensler

It is official: yesterday was Gary Gensler’s final day as SEC Chair.

Of their farewell assertion, the fee thanked him for his “diligence and creativity,” which is code for, “You actually needed to suppose exterior the field to file 100+ lawsuits in opposition to crypto firms.”

So lengthy, Gary. Hope we by no means should cross paths once more! 🥰

3/ New faces (sort of)

Mark Uyeda will quickly change Gensler as Chair on the SEC – till Trump’s nominee (Paul Atkins) will get confirmed by the Senate. We like Uyeda 😃👍 – he was vital of Gensler’s strict method to crypto;

In the meantime, Caroline Pham is stepping in as Appearing CFTC Chair. We additionally like her 😃👍 – she’s been calling for higher crypto laws for some time now.

4/ DOGE updates

Sure, Trump signed an government order to create the Division of Authorities Effectivity (DOGE), and sure, the official website options Dogecoin 🥹

And you understand what? They already did their first “effectivity minimize” – Vivek Ramaswamy, who was alleged to co-lead DOGE with Elon Musk, stop earlier than something even began.

He is bought ✨ greater desires ✨ now – working for Ohio governor.

Rumor additionally has it there’s some stress between him and Musk, particularly after Vivek’s rant about how American tradition has “honored mediocrity over excellence” and the way that is the explanation why large tech firms have a tendency to rent overseas engineers.

Both manner, all this drama has been nice for Dogecoin:

Aaaand that is the tea for now. Yeah, day one did not convey a crypto revolution, however we did get a weird begin – which may be very on-brand for crypto.

Liking the juice? 🍋 Don’t gatekeep this one – share the Day by day Squeeze and let your pals get a style of Web3 sweetness!
Truthful warning, tho’: you’ll have to hold the burden of turning into a hero.

🍋 Information drops

🗑 Trump hasn’t signed off on something crypto-related but, however he did scrap Biden’s government order on AI. This order required AI builders to share security checks with the federal government to assist keep away from main dangers.

💬 Individuals are urging the Ethereum Basis to stake its Ether and earn curiosity as an alternative of promoting tokens to cowl bills. In response, Vitalik Buterin stated they’re engaged on methods to ease their staking worries.

🏃 China’s cooking up one thing that looks like a sci-fi fever dream: 12,000 people vs. a military of humanoid robots in a 21-kilometer race. And it is not only for present both; money prizes are on the road, whether or not you are powered by muscle tissue or motherboards.

🤝 The Hashgraph Affiliation teamed up with Taurus, a digital asset infrastructure supplier. They’re making it simpler for banks and large firms to soundly stash, stake, and tokenize HBAR and different property.

🇲🇹 The Winklevoss twins’ crypto trade, Gemini, selected Malta to arrange their compliance hub. The purpose? To make sure they’re absolutely aligned with Europe’s new MiCA laws.