What Happened in the Cryptocurrency Market During the Week of January 20-26
News from Trump
Donald Trump has appointed crypto-friendly Commissioner Mark Ueda as acting head of the SEC.
Trump signed an executive order granting a full pardon to Ross Ulbricht, the creator of Silk Road. Hollywood filmmakers have already announced the completion of a documentary about Ulbricht.
Trump announced the launch of the $500 billion "Stargate" project to develop infrastructure related to artificial intelligence (AI) developments. AI tokens reacted to the news with a sharp rise.
Donald Trump signed an executive order on the development of the digital asset industry in the United States. The order envisages the creation of a special group on cryptocurrencies.
Regulatory news
The US Securities and Exchange Commission (SEC) has announced the creation of a cryptocurrency working group to resolve any ambiguities in the regulation of the crypto industry.
The SEC has repealed SAB Rule 121, the adoption of which was holding back the development of the crypto market in the United States.
A Texas district court has ordered sanctions against the infamous cryptocurrency mixer Tornado Cash to be lifted.
Bitwise has filed to list an exchange-traded fund (ETF) on Dogecoin.
Grayscale has filed to launch a Solana and Litecoin ETF.
Project news
Earlier this week, the team at Jupiter, a leading DEX aggregator on Solana, revealed details of the second JUP airdrop. On January 22, the long-awaited airdrop started. Against this backdrop, the price of JUP dropped significantly.
TON will become Telegram's exclusive blockchain partner.
A new GameFi project, Asquids Crypto Survival, is gaining momentum in Telegram. It is inspired by the cult TV series, The Squid Game. The project announced the launch of a token and an airdrop.
Other crypto market news of the week
Trump said that he knows practically nothing about the much-talked-about TRUMP memecoin, although he was involved in its creation.
Melania Trump followed her husband in launching a personalized memecoin. Immediately after the launch, it overtook the TRUMP token, becoming the leader in growth.
With the popularity of TRUMP and MELANIA, the Solana network has seen a surge in trading activity and strong growth in profitability.
The new US government agency D.O.G.E. (Department of Government Efficiency), headed by Elon Musk, has placed the Dogecoin logo on the main page of its official website.
El Salvador Increases Its Bitcoin Reserves Despite IMF Deal
Tron founder Justin Sun has proposed four ideas to improve the Ethereum ecosystem.
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