|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
NYDIG Predicts Bitcoin Will Turn Into a Political Imperative, and Not Having Any Could Become a Major Liability
Nov 11, 2024 at 11:06 pm
Greg Cipolaro of NYDIG pointed out that after Donald Trump and the Republicans triumph in the US elections, investors will have no choice but to adopt Bitcoin.
Investment firm NYDIG predicts that Bitcoin will become a key political issue in the upcoming US elections, with investors who fail to include any BTC in their portfolios facing a major disadvantage.
According to NYDIG’s global head of research Greg Cipolaro, some investors have yet to allocate any funds to Bitcoin, despite the cryptocurrency’s 84% surge in 2024, which saw the price hit nearly $82,000. However, Cipolaro believes that this oversight will no longer be tenable.
“While some investors have allocated to Bitcoin, the most common allocation for investors is still zero. There are no excuses now,” Cipolaro wrote in a Nov. 11 note, adding:
“It is now becoming a political imperative.”
The crypto industry has largely thrown its support behind the Republicans, who are expected to maintain control of the Senate and may retain the majority in the House after flipping several seats from the Democrats.
Cipolaro’s analysis suggests that crypto now has a “place at the table at the highest levels of government,” which could see crypto and blockchain being “more accepted into the mainstream financial system.”
“2025 will likely see new heads of nearly every major agency and department with, finally, real potential for pro-crypto legislation and regulation,” he added.
Trump has promised to fire Securities and Exchange Commission Chairman Gary Gensler “on day one,” and sources indicate that Robinhood Markets’ legal executive is the top candidate for the role.
The SEC filed several lawsuits against crypto firms under Gensler, and Cipolaro suggests that this aggressive approach could be scaled back.
“A post-election leadership change may usher in a more accommodating regulatory philosophy,” he said. “This could lead to the SEC seeking settlements with these companies, allowing them to operate within a clarified regulatory framework or, in some cases, dropping certain lawsuits entirely, especially if they’re viewed as not serving the best public interest.”
According to Cipolaro, the SEC may also opt not to pursue any enforcement actions hinted at by Wells notices to firms including Robinhood, Crypto.com, Consensys, Uniswap, and Immutable.
With new heads of department set to be appointed, Cipolaro suggests that a more pro-crypto approach could be seen at the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Treasury, in addition to a new attorney general.
The new regulators may lean toward a more crypto-friendly stance, Cipolaro noted, “potentially supporting banks in providing custody services for digital assets including stablecoins.”
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- DeltaPrime Issues Attacker a Deadline to Engage in Conversation on Fund Retrieval, Threatens Legal Action
- Nov 14, 2024 at 12:25 am
- DeltaPrime, the decentralized finance borrowing protocol attacked by hackers in the amount of $4.8 million on Nov 11, issued an ultimatum to the attacker to respond by 8 AM CET on Nov. 14, in case it threatens to take legal action.
-
- Toncoin and Avalanche Showcase Immense Potential For This Bull Run, But New DeFi Gaming Powerhouse Rollblock Could Steal The Show
- Nov 14, 2024 at 12:20 am
- If there were any trepidations concerning the commencement of a new bull run, those have fully been put to rest. Bitcoin's weekly close clocked in above $80,000, and layer-1 alt-coins including Avalanche and Toncoin are experiencing value increases of their own.
-
- Solana and Injective Lead the Bull Market Rally as New Projects Like Lunex Network Emerge
- Nov 14, 2024 at 12:15 am
- SOL price predictions are forecasting a bull market for SOL, which is now retesting the $200 resistance level. Over the last 30 days, SOL's price has surged over 42% in a bull market rally that has seen meme coins on Solana's ecosystem reach new all-time highs.
-
- BlackRock's Bitcoin ETF (iShares Bitcoin Trust) Recently hit a new high, recording over $4.1 billion in daily trading volume
- Nov 14, 2024 at 12:15 am
- This achievement comes amid renewed interest in crypto assets, driven by the recent U.S. presidential election and market optimism around a pro-crypto administration.