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Trump’s likely SEC pick fuels RSR token rally to multiyear high

Coin Telegraph
Trump’s likely SEC pick fuels RSR token rally to multiyear high
advisor

The community has linked the 88% spike in the price of the Reserve Rights token to Donald Trump, who is likely to pick Paul Atkins as the next SEC chair.

The Reserve Rights (RSR) token saw a sharp increase in value as speculation built around former United States President Donald Trump’s expected nomination of a new US Securities and Exchange Commission chair.

Some members of the cryptocurrency community have linked the token’s rise to rumors that Trump may appoint former SEC Commissioner Paul Atkins, who has previously advised the Reserve Rights Foundation, the entity behind the RSR token.

Source: Henshaw Udowo

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Changpeng Zhao says he ‘wouldn’t mind a pardon’ from Donald Trump

Coin Telegraph
Changpeng Zhao says he ‘wouldn’t mind a pardon’ from Donald Trump
Binance

The former Binance CEO already pleaded guilty to one felony charge and served four months in prison, but receiving a presidential pardon could present certain opportunities.

Former Binance CEO Changpeng “CZ” Zhao suggested that he would be open to receiving a federal pardon from United States President-elect Donald Trump for a felony charge.

In a Dec. 1 reply to TelosX co-founder John Lilic on X, Zhao said he “wouldn’t mind a pardon” from Trump, who is scheduled to be inaugurated as the 47th US President on Jan. 20.

As part of a settlement with authorities in November 2023, the former Binance CEO pleaded guilty to a criminal charge related to his failure to maintain an effective Anti-Money Laundering program at the crypto exchange.

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MARA Holdings acquired over $600M Bitcoin in the last two months

Coin Telegraph
MARA Holdings acquired over 0M Bitcoin in the last two months
Bitcoin

MARA Holdings urged the US government to be more aggressive in securing positions in Bitcoin and Bitcoin mining.

Crypto miner Marathon Digital has spent more than $600 million to purchase Bitcoin in the last two months, according to a filing with the United States Securities and Exchange Commission.

In a Dec. 2 filing, MARA Holdings said it acquired 6,484 Bitcoin (BTC) between Oct. 1 and Nov. 30. The coins were purchased for $618.3 million in cash at an average price of $95,352 per BTC. 

In addition, MARA Holdings said in a press release that it intends to offer $700 million in convertible senior notes due 2031 in a private offering. The proceeds will be used to purchase more Bitcoin and repurchase existing convertible notes due in 2026. 

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What role did crypto voters play in the 2024 US election?

Coin Telegraph
What role did crypto voters play in the 2024 US election?
Coin Telegraph

According to Rep. Wiley Nickel, Democratic presidential candidate Kamala Harris could have made a “really big error” not courting voters in favor of crypto earlier.

Political analysts are still analyzing the results of the 2024 United States elections on Nov. 5, but many candidates who said they would advocate for policies favoring the cryptocurrency and blockchain industry won their respective primaries and races.

According to reporting from the advocacy group Stand With Crypto, roughly 270 “pro-crypto” candidates won seats in the US House of Representatives and Senate.

Election Day polling from Paradigm suggested that roughly half of crypto voters waited until the eleventh hour to cast their ballots, leaned Republican, and likely contributed to Donald Trump winning the popular vote with 76.8 million votes — slightly less than 50% of all votes cast. 

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Tether mints an additional $3 billion in USDt stablecoins

Coin Telegraph
Tether mints an additional billion in USDt stablecoins
Bitcoin

According to stablecoin firm Tether, over $134 billion USDt tokens are circulating across various blockchain protocols as of November 2024.

Stablecoin issuer Tether minted an additional $3 billion in USDt (USDT) tokens on November 23 on the Ethereum and Tron networks amid increased trading volume in the crypto markets — particularly Bitcoin (BTC) as it approaches the $100,000 price level.

Data from Arkham Intelligence revealed that $2 billion in USDt was minted on the Ethereum blockchain, and an additional $1 billion USDt was minted on the Tron network in back-to-back transactions.

According to Lookonchain, Tether has minted approximately $13 billion USDt since November 8, 2024. On November 24, Tether CEO Paolo Ardoino said, "In 2025, Tether will need to reach hyper-productivity to accomplish our grand vision."

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Blockchain Association outlines crypto priorities for Trump’s first 100 days

Coin Telegraph
Blockchain Association outlines crypto priorities for Trump’s first 100 days
Blockchain

The Association ultimately seeks a swift end to the “regulation by enforcement” era of cryptocurrency oversight in the US. 

Washington, DC-based advocacy group Blockchain Association submitted a letter to Donald Trump on Nov. 22 beseeching the President-elect to prioritize radical cryptocurrency and blockchain regulatory reform during his first 100 days in office. 

The brief letter was shared on the Association’s website. It lays out a five-point reformation plan for the incoming Trump administration’s first 100 days.

Blockchain Association’s stated goal is for the republican party to restructure federal oversight in the cryptocurrency and blockchain sectors in order to spur growth in the sector. 

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Coinbase CEO to meet with Trump to discuss personnel appointments — WSJ

Coin Telegraph
Coinbase CEO to meet with Trump to discuss personnel appointments — WSJ
Brian Armstrong

Before US Election Day, Brian Armstrong said Coinbase was “prepared to work” with either a Kamala Harris or Donald Trump administration.

Brian Armstrong, the CEO of United States-based cryptocurrency exchange Coinbase, will reportedly meet with Donald Trump as the president-elect continues to announce staff picks for his administration and the heads of government departments.

According to a Nov. 18 Wall Street Journal report, Trump intended to meet privately with Armstrong to discuss personnel appointments. The Coinbase CEO did not appear to have donated directly to the Republican’s 2024 campaign or political action committees (PACs) directly supporting him but said before the US election the crypto exchange would be prepared to work with a Trump administration.

It’s unclear whether Armstrong or a Coinbase employee could potentially have a role in the next US president’s administration. At the Bitcoin 2024 conference in July, then-candidate Trump said he intended to establish a “Bitcoin and crypto presidential advisory council” to “design transparent regulatory guidance for the benefit of the entire industry” within 100 days of taking office.

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Senator Lummis says Treasury should convert gold for Bitcoin reserve

Coin Telegraph
Senator Lummis says Treasury should convert gold for Bitcoin reserve
Bitcoin

The United States government has the highest gold reserves in the world, with over 8,000 tons of the precious metal on its balance sheet.

Wyoming Senator Cynthia Lummis is advocating for the United States Treasury Department to convert a portion of its gold holdings into Bitcoin (BTC) to establish a Bitcoin strategic reserve.

Lummis told Bloomberg that by converting gold certificates held by the US Treasury into Bitcoin, the immediate effect on the US government's balance sheet would remain "neutral," as opposed to spending approximately $90 billion to purchase the Bitcoin at current market prices.

The US Senator previously argued that the US Treasury should convert a portion of its assets to purchase Bitcoin for the strategic reserve, but never specified which of the Treasury's holdings should be sold to acquire more of the digital currency.

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Ripple Labs and CEO come under fire amid rumors of a Trump meeting

Coin Telegraph
Ripple Labs and CEO come under fire amid rumors of a Trump meeting
Brad Garlinghouse

Ripple's native currency, XRP, surged by more than 17% on November 15, based on expectations of a friendlier regulatory climate in the US.

Ripple Labs and CEO Brad Garlinghouse are facing criticism from industry executives after rumors that the CEO recently met with President-elect Trump began circulating on social media.

In response to the rumors, former Messari CEO and founder Ryan Selkis remarked: "Brad Garlinghouse is shilling XRP (XRP) and CBDC implementations." Selkis' comments were reposted by the vice president of research at Riot Platforms, Pierre Rochard.

Rochard agreed with Selkis and wrote "We can’t let Ripple co-opt the United States policymaking process with their anti-bitcoin agenda," and hoped that the President-elect would appoint more Bitcoiners to his administration.

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‘There is a global race underway for Bitcoin’ — Anthony Pompliano

Coin Telegraph
<div>'There is a global race underway for Bitcoin' — Anthony Pompliano</div>
Bitcoin

The election of a pro-crypto President in the United States and growing macroeconomic turmoil will continue to drive investors to Bitcoin.

Asset manager and investor Anthony Pompliano recently stated that the global Bitcoin (BTC) arms race between sovereign nations and governments has already started.

In an appearance on Yahoo Finance, Pompliano argued that market participants believe President-elect Trump will keep his campaign promises and establish a Bitcoin strategic reserve, and that doing so would be in the best interest of the United States to prevent being "Front-run by other countries." Pompliano asserted:

The pro-Bitcoin asset manager explained that the race to adopt Bitcoin is primarily driven by currency devaluation and noted that US residents lost approximately 25% of their purchasing power over the last five years.

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