United States

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

November 16, 2024 Coin Telegraph

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.

US Judge Deems SEC’s Order To Deny Coinbase Rulemaking Petition ‘Arbitrary and Capricious’

18 US states file lawsuit against SEC and Gary Gensler

November 14, 2024 Coin Telegraph

Coin Telegraph

President-elect Trump has vowed to fire SEC Chairman Gary Gensler and replace him with a more crypto-friendly SEC head.

18 US states have filed a lawsuit against the Securities and Exchange Commission (SEC) and Chairman Gary Gensler, accusing the financial regulator of “gross government overreach” against the nascent crypto industry.

The joint lawsuit against the SEC. Source: Eleanor Terrett

The plaintiffs include Nebraska, Tennessee, Wyoming, Kentucky, West Virginia, Iowa, Texas, Mississippi, Ohio, Montana, and others. The legal complaint reads:

US Judge Deems SEC’s Order To Deny Coinbase Rulemaking Petition ‘Arbitrary and Capricious’

Crypto community hopeful about new Senate leader John Thune

November 14, 2024 Coin Telegraph

Bitcoin

Not endorsed by Donald Trump, Senator John Thune defeated the Elon Musk-supported Senator Rick Scott to become the new Senate majority leader.

The cryptocurrency industry has high hopes for regulatory clarity in the United States as the Republican Party elected Senator John Thune of South Dakota as the new Senate majority leader.

Thune won the Senate majority leader race on Nov. 13, defeating the Elon Musk-endorsed Senator Rick Scott of Florida.

“We will work to make America prosperous again by streamlining the bureaucratic machine and overturning costly Biden-Harris regulations,” Thune stated in a speech after winning.

US Judge Deems SEC’s Order To Deny Coinbase Rulemaking Petition ‘Arbitrary and Capricious’

Cantor Fitzgerald CEO Howard Lutnick vying for Treasury Secretary post

November 14, 2024 Coin Telegraph

Cantor Fitzgerald

Lutnick has become increasingly visible to the crypto community due to his relationship with Tether and his appearance at Bitcoin 2024.

President-Elect Donald Trump is selecting cabinet members for his upcoming administration in 2025, and the role of Treasury Secretary is now reportedly contested between Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick.

According to Fox Business reporter Eleanor Terrett, Bessent was "All but certain" to secure the position as recently as Tuesday, November 13. The pro-crypto asset manager was the most likely pick for United States Treasury Secretary alongside hedge fund manager John Paulson.

However, Paulson bowed out of the cabinet selection due to what he described as "complex financial obligations," and Lutnick has allegedly rushed in to clench the Treasury Secretary role, sources close to the process say.

US Judge Deems SEC’s Order To Deny Coinbase Rulemaking Petition ‘Arbitrary and Capricious’

Alchemy Pay expands US compliance with four new state licenses

November 8, 2024 Coin Telegraph

Alchemy Pay

Alchemy Pay’s new MTL licenses in Minnesota, Oklahoma, Oregon and Wyoming bring its total to eight US state licenses.

Cryptocurrency payment gateway Alchemy Pay is growing compliance in the United States by obtaining new licenses in four US states.

Alchemy Pay has secured four new US money transmitter licenses (MTLs) in Minnesota, Oklahoma, Oregon and Wyoming, the firm announced to Cointelegraph on Nov. 8.

The new licenses bring Alchemy Pay’s total to eight US state licenses, according to data from the Nationwide Multi-State Licensing System and Registry.

US Judge Deems SEC’s Order To Deny Coinbase Rulemaking Petition ‘Arbitrary and Capricious’

“Significant amount of capital” to be unlocked for crypto ventures — Bitfinex analysts

November 6, 2024 Coin Telegraph

Coin Telegraph

Analysts for the crypto exchange Bitfinex anticipate a rise in capital inflows following the reelection of Donald Trump in the United States.

Bitfinex analysts anticipate a “new wave of hope” entering crypto markets following Donald Trump’s election as president of the United States.

This renewed hope is expected to translate into more capital flowing into the Web3 space as the industry expects federal agencies to adopt a less hostile stance on cryptocurrencies. According to Bitfinex analysts:

Trump’s support for the crypto industry is a new development. During his first term at the White House, Trump went on record on X as an opponent, saying he was not a fan of Bitcoin (BTC) and deeming cryptocurrencies speculative.

US Judge Deems SEC’s Order To Deny Coinbase Rulemaking Petition ‘Arbitrary and Capricious’

Polymarket payouts to be delayed unless Fox, NBC agree on US election winner

November 5, 2024 Coin Telegraph

Coin Telegraph

No matter who wins the 2024 US presidential election, Polymarket users may have to wait months for their settlements.

Donald Trump maintains a formative lead over Kamala Harris on the Polymarket prediction market but, no matter who wins the election, payouts could be delayed until Jan. 20, 2025, unless the Associated Press, Fox, and NBC all agree on a clear winner.

Under the rules of the “Presidential Election Winner 2024” contest on Polymarket, either candidate must win the election for payouts to occur. However, when it comes to US presidential elections, it can take days, weeks, or even months to determine the final outcome.

According to a disclaimer on the contest’s landing page, Polymarket won’t declare a winner before Inauguration Day unless the media reaches a consensus.

US Judge Deems SEC’s Order To Deny Coinbase Rulemaking Petition ‘Arbitrary and Capricious’

Crypto funds see $2.2B inflows amid US election hype — CoinShares

November 4, 2024 Coin Telegraph

Crypto funds see .2B inflows amid US election hype — CoinShares

bitcoin etf

The latest inflows mark four weeks of consecutive buying in cryptocurrency products, totaling more than $5.7 billion, or 19% of all such inflows YTD.

Cryptocurrency investment products posted another massive week as the United States presidential election draws closer.

Digital investment products saw $2.2 billion in inflows from Oct. 26 to Nov. 2, bringing year-to-date (YTD) inflows to a record-breaking figure of $29.2 billion, CoinShares reported in its new Digital Asset Fund Flows Weekly Report.

The latest inflows mark four weeks of consecutive buying in cryptocurrency products, totaling more than $5.7 billion, or 19% of all inflows YTD.

US Judge Deems SEC’s Order To Deny Coinbase Rulemaking Petition ‘Arbitrary and Capricious’

How the US Fed thinks a Bitcoin ban could preserve deficit spending

November 1, 2024 Coin Telegraph

Ban

A ban on Bitcoin? Even the suggestion as part of a thought experiment is bound to chafe the crypto community.

Bitcoin has been called many things, but a “balanced budget trap” is probably not one of them. Or at least not noticeably — until now.

A recent paper published on the Federal Reserve Bank of Minneapolis website suggests that Bitcoin (BTC), or something like it, could one day force the United States federal government to balance its budget.

That would arguably vex policymakers and legislators because they want to keep all their spending options open in case of serious emergencies, like a COVID-19 pandemic or a recession. A burst of spending can stimulate an economy, after all.

US Judge Deems SEC’s Order To Deny Coinbase Rulemaking Petition ‘Arbitrary and Capricious’

5% of US voters identify as single-issue crypto voters — Paradigm poll

October 31, 2024 Coin Telegraph

2024 election

According to Paradigm, 20% of individuals surveyed indicated that they currently hold or have previously purchased crypto.

An October 2024 poll from venture capital firm Paradigm revealed that 5% of respondents indicated they were single-issue crypto voters in the United States presidential election. The results suggest that the voting bloc has the power to swing an election that will be determined by a “razor-thin” margin.

According to the Paradigm poll, roughly one-quarter of crypto owners surveyed indicated they were single-issue crypto voters, including 11% of voters in the 18-34 age bracket, 8% of male respondents, 7% of African American voters, and 8% of Hispanic voters.

Paradigm noted that the 5% of pro-crypto, single-issue voters is more than double the margin of victory in swing states such as Pennsylvania, Michigan, and Wisconsin, where election results are decided by a slim 1-2% margin.

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