Author: Max Bauer

Former President Donald Trump announced on Truth Social his intention to nominate Paul Atkins, a known cryptocurrency advocate, as the next Chairman of the Securities and Exchange Commission (SEC), should Trump win the 2024 presidential election. Trump described Atkins as a “proven leader for common sense regulations” who “believes in the promise of robust, innovative capital markets.” He emphasized Atkins’ understanding of the importance of digital assets, stating that Atkins “recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.” Atkins currently serves as CEO and Founder of Patomak Global Partners, a risk management…

South Korean cryptocurrency markets are facing potential volatility as the country grapples with political turmoil following President Yoon Suk-yeol’s short-lived attempt to impose martial law. The president’s declaration, enacted Tuesday night and rescinded just six hours later, sparked widespread outrage and has led to impeachment proceedings initiated by a coalition of 191 lawmakers. The abrupt imposition of military control, ostensibly aimed at quelling criticism from the left-wing opposition, backfired dramatically. Citizens, opposition parties, and even members of Yoon’s own People Power Party condemned the move. The impeachment bill, backed by six political parties, is expected to be put to a…

Chicago Fed President Austan Goolsbee expects interest rates to decrease significantly in the coming year. Speaking at a keynote conversation on the Midwest economy and US monetary policy, moderated by Crain’s Chicago Business Editor-in-Chief Ann Dwyer, Goolsbee indicated the Fed’s tightening cycle may be nearing its end. Goolsbee emphasized the limited nature of the Fed’s tools, highlighting the delicate balance between controlling inflation and avoiding a severe economic downturn. He cautioned against aiming for outright deflation, stating that the only way to achieve it economy-wide would be to “tank the economy,” recalling the deflationary period of the Great Depression as…

MicroStrategy continues its aggressive Bitcoin acquisition strategy, recently purchasing an additional 15,400 Bitcoin at an average price of $96,000, totaling $1.5 billion. Executive Chairman Michael Saylor, appearing on CNBC’s “Squawk Box,” reiterated the company’s commitment to Bitcoin, emphasizing its role as a “Bitcoin treasury company” bridging traditional capital markets with the crypto economy. He also hinted at a potential price surge, suggesting Bitcoin could reach $180,000, although acknowledging the likelihood of significant volatility along the way. Saylor explained MicroStrategy’s approach of issuing stock and convertible debt to acquire Bitcoin, effectively securitizing the cryptocurrency. This strategy allows traditional investors exposure to…

President-elect Donald Trump has tapped Paul Atkins, a known cryptocurrency advocate, to chair the Securities and Exchange Commission (SEC), according to sources close to the discussions. This move fulfills a campaign promise to the crypto community and signals a potential departure from the current administration’s stricter regulatory approach. While one source indicated Trump has extended the offer, Atkins’ acceptance is still pending. The nomination will require Senate confirmation, unless Trump opts for a recess appointment. Atkins, who served as an SEC commissioner under President George W. Bush, enjoys widespread respect within conservative legal circles and the Republican establishment. Since leaving…

Cryptocurrency economist Timothy Peterson has issued a stark warning about an impending bear market and recession, suggesting significant implications for Bitcoin. Peterson, known for developing a proprietary market indicator, claims his metric has “fully triggered” for the first time since 2021, signaling a period of economic stagnation and market downturn. Peterson’s indicator, the Secular Market Indicator, published in the Journal of Wealth Management, incorporates gold as a proxy for hard assets, differentiating it from traditional indicators like the Shiller P/E ratio or the Buffett Indicator, which he argues failed to predict the 2008 financial crisis. According to Peterson, his metric…

XRP, the cryptocurrency issued by Ripple, soared to $2.48 on Monday, reaching its highest price in six years and securing its position as the third most valuable cryptocurrency globally. While still below its 2018 peak of $3.40, several factors suggest XRP could surpass this record, according to Arthur Azizov, CEO of crypto exchange B2BinPay. Donald Trump’s presidential win has reignited bullish sentiment in the cryptocurrency market, with investors anticipating pro-crypto policies. The market has seen a 42% surge to $3.5 trillion since the election. Ripple CEO Brad Garlinghouse expressed confidence in Trump’s potential impact on the industry, stating that he…

Fundstrat Global Advisors co-founder and Head of Research, Tom Lee, remains bullish on Bitcoin, predicting a significant price surge above $100,000 before the end of the year. In an interview on CNBC, Lee expressed confidence in Bitcoin’s potential, despite its current struggle to break through the psychologically important $100,000 mark. Lee attributes his optimistic outlook to a combination of factors. He highlighted the historically strong performance of the S&P 500 in December, particularly following election years with gains exceeding 10%. Additionally, he pointed to the decline in bond yields to pre-election levels, suggesting a favorable environment for multiple expansion. He…

Bitcoin mining profitability rebounded in November, driven by the cryptocurrency’s record-breaking price surge, according to a JPMorgan research report released Monday. While the improvement is notable, profitability remains roughly 50% below pre-halving levels, analysts Reginald Smith and Charles Pearce noted. “We estimate that bitcoin miners earned an average of $52,000 per exahash per second (EH/s) in daily block reward revenue in November, a 24% increase from October,” the analysts wrote. JPMorgan attributed part of this boost to a spike in transaction fees following the U.S. presidential election on November 5th, providing some “hashprice relief.” Hashprice is a key metric used…

Japan is considering introducing new, less stringent regulations for cryptocurrency intermediaries that fall outside the scope of traditional exchanges. This move aims to address the regulatory challenges posed by entities such as gaming applications and self-hosted wallets that connect users to third-party crypto trading services. Japan has been a pioneer in cryptocurrency regulation, implementing legislation for Crypto Asset Exchange Service Providers (CAESPs) in 2017 following the high-profile Mt. Gox exchange hacks. These regulations cover a broad range of activities, including buying and selling crypto, brokerage services, managing funds, and providing custody. However, the current framework poses challenges for intermediaries that…