Trump's crypto promises - was this all for show

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

GM. Feeling slightly pulp-struck by the newest 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 at the moment

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. In case you need assistance with an apology message to ship on Slack, hmu).

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

Naturally, the glass began wanting half-empty for a lot of traders, so Bitcoin took a step again from the $109K stage it reached yesterday to simply over $100K.

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

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

And hey, you already know what they are saying – when doubtful, zoom out:

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

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

🥝 Memecoin harvest

The recipe for at the moment’s memecoins: half joke, half hype, 100% sending 🚀

Identify

24H Change

Barron William Trump BWT

▲15.3K%

Justice for ZachXBT ZACHXBT

▲12.2K%

TrustInWeb3 T3AI

▲198%

QudeAI Framework QUDE

▲123%

Knowledge as of 06:40 AM EST.

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

… sooner or later, for now.

Like we mentioned 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 mentioned, we will not 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 title, with zero actual worth;

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

The dearth of transparency about who purchased the token may very well be a nationwide safety subject since international 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 outdoors the field to file 100+ lawsuits towards crypto corporations.”

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

3/ New faces (form of)

Mark Uyeda will briefly substitute Gensler as Chair on the SEC – till Trump’s nominee (Paul Atkins) will get confirmed by the Senate. We like Uyeda 😃👍 – he was important 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 web site options Dogecoin 🥹

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

He is obtained ✨ larger desires ✨ now – working for Ohio governor.

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

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

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

Liking the juice? 🍋 Don’t gatekeep this one – share the Every day Squeeze and let your mates get a style of Web3 sweetness!
Honest warning, tho’: you’ll have to hold the load of changing 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.

💬 Persons 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 mentioned they’re engaged on methods to ease their staking worries.

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

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

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