Trump Takes Credit for Surge in US Stocks and Recent All-Time Highs for Bitcoin

On January 19, Trump took credit for the recent surge in US stocks and all-time highs for Bitcoin. During his last speech before taking office, Trump attributed these market gains to himself. At a rally, Trump said, “You have seen results that no one expected. The stock market has soared since the election, and small business optimism has soared 41 points to a 39-year high. Bitcoin has broken new highs again and again. This is the Trump effect.”

Meanwhile, Trump's wife announced on social media early Monday that people can now buy the Meme coin MELANIA, which has a current market value of about $6.4 billion according to gmgn data. Trump forwarded the information. He had previously issued his own exclusive cryptocurrency TRUMP, which plunged after his wife announced the issuance of MELANIA, briefly fell below $40, and then rebounded. It has now risen to $46.

In other news, Michael Saylor has released information related to Bitcoin Tracker for the eleventh consecutive week, but this time is different from before. He said: "Things will be different tomorrow." (Note: Every time MicroStrategy buys BTC, the website will mark a green dot on the corresponding date, and the BTC price trend line will be blue.) According to previous rules, MicroStrategy always increases its holdings of Bitcoin on the day after the relevant news is released.

An Italian lawmaker is urging the country's banking foundation to invest in Bitcoin, arguing that such investments could accelerate the country's support for the leading cryptocurrency. However, he does not think Italy will establish similar reserves in the short term, despite the United States' push for strategic Bitcoin reserves at both the national and state levels.

In an interview last Friday, Italian lawmaker Marcello Coppo said that banking foundations should allocate a small portion of their income to digital assets such as Bitcoin to potentially obtain a significant return on investment; the foundation's investment in Bitcoin could inspire public support for the cryptocurrency, which has long been an object of "excessive distrust" in Italy; we can start from a very low risk place, and any positive test can serve as a case study and example.

Earlier on January 14, it was reported that Italian bank Intesa Sanpaolo purchased 11 BTC for about 1 million euros.

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Nova Labs, the creator of the Helium network, alleging that the company sold unregistered securities and misled investors. This is the latest and likely final enforcement action under outgoing Chairman Gary Gensler.

The lawsuit, filed last Friday, targets three tokens associated with Helium: the Helium Network Token (HNT), the Helium Mobile Token (MOBILE), and the Helium Internet of Things Network Token (IoT), which the SEC alleges were sold as unregistered securities. The lawsuit also accuses Nova Labs of misleading investors about multiple high-profile partnerships. Although the company told investors that companies such as Nestlé, Lime, and Salesforce were using the network, the lawsuit claims that these companies were neither customers nor "users" of the network. “In fact, when Nestlé and Lime learned that Nova Labs had publicly boasted about their alleged relationships, each company sent Nova Labs a cease and desist letter,” the lawsuit states. The lawsuit seeks fines against the company and a ban on it from buying, offering, or selling any crypto assets that are offered as securities.

Haleem posted a provocative message on X on Sunday, calling the lawsuit "the last gasp in America's failed crusade against crypto companies."

Haleem said: "The SEC wasted two years of our time and millions of our dollars pursuing any allegation they could think of... I don't get angry often, but this series of events is infuriating." Regarding the accusation that Helium misled investors, Haleem said: "We have addressed this issue in the past and worked with every company named in the complaint." Haleem concluded: "We will vigorously defend ourselves and continue the record of abject failures and blatant lies of the SEC led by Gensler. Not only for us, but for all DePin projects. If the Helium hotspot is a security, then all DePin is in jeopardy. We will not let this happen."

Later news came out that 10% of the MELANIA token team share will be unlocked on the 30th day and all will be unlocked in the 13th month .

Former Coinbase CTO Balaji Srinivasan wrote on the X platform that Meme coins are a zero-sum lottery. It does not create wealth. Every buy order is simply matched with a sell order. After the initial surge, the price will eventually plummet, and the last investor to buy will lose everything. If the platform also takes a commission, it is actually a negative-sum game. If you want to gamble moderately for entertainment, no problem. If you are a professional trader, no problem. But most people should buy assets that will maintain their value in the long term. Sometimes you can add