Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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Crypto critic Elizabeth Warren rises to top Democrat on Senate Banking Committee

  • Senator Elizabeth Warren will be the top Democrat on the Senate Banking, Housing, and Urban Affairs Committee.
  • The crypto critic’s new role means her input could have an impact crypto regulation in the US.

Senator Elizabeth Warren, the top crypto critic in the US Senate, has confirmed she’s set to be the senior most Democrat on the crucial Senate Banking, Housing, and Urban Affairs Committee.

Warren, who defeated pro-crypto lawyer John Deaton for the Massachusetts senate seat in the 2024 elections, noted this in a statement published on Wednesday. Notably, the Senate Banking Committee is the entity that’s set to handle critical legislation on cryptocurrencies.

While Republicans have control of the Senate, any changes to this scenario likely during the mid-terms could see Warren become even more influential in the next two years.

Warren’s new Senate role

Warren’s elevated position follows the exit of Sherrod Brown, the former chairperson of the Senate Banking Committee. The Ohio Democrat lost in the 2024 U.S. election, with his defeat coming amid massive effort from across the crypto space to support the winner and new Ohio Senator-elect Bernie Moreno.

The 2024 US election has also seen the most pro-crypto lawmakers elected.

However, the crypto industry’s larger concern will be on the influence of the Dem’s ranking member in Senate. While Warran did mention crypto in the statement, she said:

“In the aftermath of the 2024 election, it’s powerfully important for Democratic leadership to show that we can make life more affordable for working people and to act with urgency to rebuild our middle class. For Massachusetts and hard-working families nationwide, this new role means a better chance to advance solutions like building more housing to lower prices and protecting consumers from private equity greed and special interest scams.”

Cryptocurrencies have rallied since Donald Trump won a second term by defeating Democrat Kamala Harris in Nov. 5. Bullish sentiment has seen Bitcoin break past the previous bull market’s high to hit highs of $93k.

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BlackRock’s spot Bitcoin ETF hits $40 billion, sets new record in 211 days

  • BlackRock’s IBIT reached a new record in 211 days, surpassing iShares Core MSCI Emerging Markets ETF’s previous record of 1,253 days
  • BlackRock’s new record comes two weeks after it hit $30 billion in net assets at the end of October
  • BlackRock is now in the top 1% of all ETFs by assets and is bigger than all the ETFs launched in the past 10 years

BlackRock has done it again. This time its IBIT spot Bitcoin exchange-traded fund (ETF) has hit a record of over $41 billion in net assets in 211 days.

News of the milestone comes two weeks after BlackRock reached $30 billion in net assets in 293 days at the end of October.

Posting on X in October, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

With BlackRock’s new achievement, it’s surpassed the previous record of 1,253 days held by iShares Core MSCI Emerging Markets ETF, according to Balchunas.

In a post on X, he said: “[BlackRock’s] now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years.”

Now, BlackRock holds more than 467,000 Bitcoin, valued at $41.8 billion, according to iShares data.

Reaching new heights

The new record comes as Bitcoin reached an all-time high of over $93,000 on November 13 in a continued rally that’s showing no signs of slowing.

The upward trajectory is partly due to Donald Trump being re-elected as US President earlier this month. Following news of his win, Bitcoin broke the $75,000 mark. It then passed $82,000, and continued to $84,000, before pushing to $87,000 earlier this week.

In September, Bernstein analysts predicted that Bitcoin would surge to between $80,000 and $90,000 if Trump won the US election. With that prediction having now passed, Bernstein analysts believe Bitcoin could reach $200,000 in 2025, urging investors to “buy everything they can.”

It remains to be seen how far Bitcoin will go, but for now, it’s showing no signs of slowing down.

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Robinhood relists Solana, Cardano and XRP, adds Pepe

  • Robinhood has relisted major altcoins Solana, XRP and Cardano for its US customers.
  • The platform also added support for Pepe, news that saw PEPE price skyrocket.

Robinhood Crypto announced on Wednesday that it had added support for four digital assets – Solana, Pepe, Cardano and XRP.

The popular trading app now supports SOL, ADA, XRP and PEPE for its US customers, according to the announcement.

Robinhood relists major tokens

The move brings the number of supported cryptocurrencies on Robinhood to 19, expanding further reach for the platform as the market explodes amid bullish sentiment.

“We’ve consistently heard from our customers that they want access to more digital assets, and we’re excited to continue expanding our crypto offering,” said Johann Kerbrat, vice president and general manager of Robinhood Crypto. “With lower barriers to entry, we believe crypto presents an opportunity for those who have been historically left behind by the traditional financial system.”

As Robinhood Crypto revealed the listing of the digital assets, the prices of Solana (SOL), Pepe (PEPE), Cardano (ADA) and XRP (XRP) surged.

While the SOL, ADA and XRP tokens bounced to key levels, meme coin Pepe exploded to hit a new all-time high. The frog-themed meme coin traded among the top gainers in 100 largest coins by market, with its upside dwarfing Dogecoin’s own march to above $0.41.

Notably, Robinhood’s move to relist SOL, ADA and XRP comes amid market anticipation of a change at the US Securities and Exchange Commission following Donald Trump’s election as the next US president.

This is largely because SEC Chair Gary Gensler is expected to exit the agency. It’s the regulator’s designation of SOL and ADA as a security that saw Robinhood delist the tokens. SEC also sued Ripple and alleged XRP was a security until a US court ruled it wasn’t in July last year.

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BlackRock expands BUIDL to Aptos, Arbitrum and Optimism

  • BlackRock has announced its tokenized US Treasuries fund is now available on other chains.
  • The company has expanded beyond Ethereum, with BlackRock USD Institutional Digital Liquidity Fund (BUIDL) now on Aptos, Avalanche, Arbitrum, Polygon and Optimism.

BlackRock has expanded its tokenized US Treasuries fund beyond Ethereum, adding support for multiple blockchain networks.

In an announcement on Nov. 13, the asset manager said its BlackRock USD Institutional Digital Liquidity Fund (BUIDL) is now accessible across Aptos (APT), Avalanche (AVAX), Arbitrum (ARB), Polygon (POL) and Optimism (OP).

This means investors can explore BUIDL, the tokenized fund that launched in March 2024 and issued by real-world asset tokenization provider Securitize, on other chains other than Ethereum.

BlackRock will launch new share classes of BUIDL on the five networks, offering native interaction and near real-time year-round access. Set to benefit are investors and decentralised autonomous organisations among other crypto-native firms.

Securitize chief executive officer and co-founder Carlos Domingo, commented:

“Real-world asset tokenization is scaling, and we’re excited to have these blockchains added to increase the potential of the BUIDL ecosystem. With these new chains we’ll start to see more investors looking to leverage the underlying technology to increase efficiencies on all the things that until now have been hard to do.”

BlackRock’s BUIDL has grown to become the world’s largest tokenized fund by assets under management.

According to data from RWA.xyz, the global RWA on-chain market is over $13 billion. Per the market data, about $2.3 billion is in tokenized treasuries, dominated by BlackRock. The BUIDL fund currently accounts for $521 million of this market, ahead of Ondo U.S. Dollar Yield that as an AUM of $451 million.

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Trump confirms Musk and Ramaswamy will lead ‘DOGE’ agency to drive out wasteful spending

  • DOGE aims to “slash excess regulations [and] cut wasteful expenditures”
  • In a statement, Trump said the new agency should finish their work no later than July 4, 2026
  • Following the news, Dogecoin rose to $0.4121

President-elect Donald Trump has announced that Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE) to “dismantle government bureaucracy.”

Tesla CEO Musk and entrepreneur Ramaswamy will “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies – Essential to the ‘Save America’ movement,” said Trump in a post on Truth Social.

According to Trump, the objectives of DOGE have been dreamed of by Republicans for a “very long time.”

The aim of the new agency is to provide advice and guidance outside of the US government, and to work with the White House and the Office of Management and Budget as they “drive out the massive waste and fraud” within the $6.5 trillion federal budget.

Per the statement, Trump said that their work will finish no later than July 4, 2026.

In a post on X, Musk said all actions of DOGE “will be posted online for maximum transparency.”

Musk, who was a familiar face during Trump’s election campaigns, has become an influential figure within the Trump administration.

Since Trump’s election campaign, Musk has played a “significant role” in shaping the Trump administration and even appeared in a Trump family photo on election night, reports ABC News.

According to federal spending records, Musk contributed around $119 million to a pro-Trump spending group.

Following the news of the new DOGE agency, the price of Dogecoin rose to $0.4121, according to data from CoinMarketCap. In the past seven days, the altcoin has risen by nearly 95% amid a wider price rally within the crypto market, following Trump’s election win.

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