Crypto

Bitcoin enthusiasm rides high as Trump prepares to take presidential office

Published

11 months ago

January 18, 2025

Bitcoin enthusiasm rides high as Trump prepares to take presidential office

Bitcoin adjacent stocks got a substantial lift after the cryptocurrency’s price jumped over $104,000 on Friday.

Bitcoin mining behemoth, Mara Holdings (NASDAQ: MARA) was the biggest and most vocal, climbing by 13 per cent. It was followed closely by Riot Platforms (NASDAQ: RIOT), MicroStrategy Inc (NASDAQ: MSTR) at 7 per cent and Coinbase Global Inc (NASDAQ: COIN) at 5 per cent.

The original cryptocurrency’s good fortunes have been at the behest of Donald Trump’s election victory, based on the optimistic take that the incoming administration will take a more favourable approach to crypto, and Bitcoin in particular.

In December, Trump appointed Paul Atkins to lead the Securities and Exchange Commission. Atkins, who previously served as an SEC commissioner under President George W. Bush, has recently focused on digital assets. He is set to replace Gary Gensler, widely regarded as a crypto critic. Trump will also likely replace several SEC commissioners whose terms are set to expire during his administration.

Furthermore, crypto advocates and holders will soon shape U.S. policy on the emerging technology, following a series of nominations and advisory appointments by President-elect Donald Trump, who takes office on Monday.

The crypto industry, after years of battling lawsuits and enforcement actions by the U.S. government, hopes the Trump administration will signal a policy shift. Officials will vet political appointees for potential conflicts, and some appointees have pledged to sell their interests.

The industry will host a sold-out black-tie ball in Washington on Friday, with ticket prices ranging from USD$2,500 to USD$10,000. David Sacks, serving as Trump’s artificial intelligence and crypto czar, plans to attend.

Read more: BlackRock launches Bitcoin ETF in Canada

Read more: Cryptocurrency fugitive Do Kwon extradited to US

Trump’s tenure will be cryptocurrency friendly

The reasons for the optimism surrounding the cryptocurrency’s future don’t necessarily begin and end with Trump either.

The president-elect has filled his inner-circle with a number of different cryptocurrency friendly personalities, most of whom are well-known and well-respected in the space.

Scott Bessent, a billionare hedge fund manager, is Trump’s pick for Treasury Secretary. He has expressed favourable views on cryptocurrency. According to a financial disclosure filed last month, Bessent holds shares in a BlackRock bitcoin exchange-traded fund valued between $250,001 and $500,000.

“Crypto is about freedom and the crypto economy is here to stay,” he said in July. “I think everything is on the table with bitcoin.” ‘

In a letter to the U.S. Treasury last week, Bessent stated he would divest his interests in the fund and other investments within 90 days of his confirmation.

Further, Trump selected Tesla’s chief and the world’s richest man to lead a government cost-cutting initiative called the Department of Government Efficiency (DOGE).

Elon Musk, a longtime advocate for cryptocurrencies like bitcoin and dogecoin, has significantly influenced their prices through his public comments and the actions of his companies. The acronym for Musk’s cost-cutting agency, DOGE, references dogecoin, now the seventh-largest cryptocurrency with a circulation value of $4.5 billion, according to CoinGecko.

In 2021, Tesla purchased $1.5 billion in bitcoin, making it one of the largest companies to invest in cryptocurrency before selling most of its holdings. By September 2024, Tesla reported holding $184 million in unspecified digital assets, according to a financial statement. Musk did not respond to a request for comment via Tesla regarding his personal cryptocurrency holdings.

Read more: Tether Limited sets up first brick and mortar office in El Salvador

Read more: Cryptocurrency fugitive Do Kwon extradited to US

Trump to encourage leadership in crypto

Vice President-elect J.D. Vance held between USD$250,001 and USD$500,000 in bitcoin as of August 2024, according to a financial disclosure.

Vance co-founded the venture capital firm Narya, which has invested in Strive, Ramaswamy’s asset management company, and the video platform Rumble, as indicated on its website. In November, Rumble announced plans to allocate its excess cash reserves to bitcoin. The company also received a USD$775 million investment from stablecoin firm Tether last year.

When asked for comment on the crypto stances of Vance and Trump’s sons, Trump-Vance transition spokesperson Brian Hughes stated—without providing evidence—that bureaucrats in Washington had attempted to stifle innovation with increased regulation and higher taxes.

“President Trump will deliver on his promise to encourage American leadership in crypto and other emerging technologies,” he said in a statement.

Finally, set to collaborate with Musk at DOGE, former presidential candidate and entrepreneur Vivek Ramaswamy is the founder of Strive Asset Management.

Strive reported managing over USD$1 billion in assets as of September, and filed last month to launch an exchange-traded fund (ETF) that invests in corporate bonds for bitcoin investments.

In November, the company launched a wealth management arm aimed at integrating bitcoin into Americans’ investment portfolios, according to a press release from Ramaswamy.

In June 2023, Ramaswamy disclosed holding between $100,001 and $250,000 in bitcoin and between $15,001 and $50,000 in ether, a smaller cryptocurrency.

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Crypto

SEC Says Cryptocurrency Scam Took $14 Million From Retail Investors | PYMNTS.com

Published

3 hours ago

December 24, 2025

Press Room

SEC Says Cryptocurrency Scam Took Million From Retail Investors | PYMNTS.com

An investment scam allegedly took $14 million from retail investors by connecting with them on social media and convincing them to fund accounts on fake crypto asset trading platforms.

The Securities and Exchange Commission (SEC) outlined the scam in a Monday (Dec. 22) press release announcing that it filed charges against three purported crypto asset trading platforms and four so-called investment clubs.

The regulator filed the charges against the platforms Morocoin Tech, Berge Blockchain Technology, and Cirkor, and the clubs AI Wealth, Lane Wealth, AI Investment Education Foundation, and Zenith Asset Tech Foundation, according to the release.

The SEC’s complaint alleges that the clubs operated on WhatsApp, used social media ads to solicit investors to join the clubs, gained investors’ confidence in group chats, and lured them to open and fund accounts on the platforms.

It alleges that the clubs and platforms then offered “Security Token Offerings” that in fact did not exist and misappropriated at least $14 million from U.S.-based investors.

The regulator’s complaint charges the defendants with violating anti-fraud laws, seeks permanent injunctions and civil penalties against all the defendants, and seeks disgorgement with prejudgment interest against the three platforms.

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“This matter highlights an all-too-common form of investment scam that is being used to target U.S. retail investors with devastating consequences,” Laura D’Allaird, chief of the Cyber and Emerging Technologies Unit at the SEC, said in the release.

The SEC’s Office of Investor Education and Assistance issued an investor alert about this form of fraud on Tuesday.

The FBI’s Internet Crime Complaint Center (IC3) said in April that cryptocurrency fraud led to at least $9.3 billion in losses reported in 2024, a 66% increase over the previous year. These losses stemmed from investment scams, extortion, sextortion and fraudulent activity involving cryptocurrency ATMs and kiosks.

The Federal Trade Commission (FTC) said in March that consumers reported losing more money to investment scams than any other category of fraud in 2024. Consumers reported losing $5.7 billion to investment scams last year, a 24% increase over 2023.

Digital risk protection platform CTM360 said in July that it identified more than 17,000 fake news sites used by scammers to promote investment fraud. These sites are promoted through fake news articles posted through ad platforms or social media, are designed to look like legitimate news outlets, and publish fabricated stories designed to lure readers into scams.

The Justice Department said in June that it filed a civil forfeiture complaint targeting $225.3 million in cryptocurrency that it said was connected to the theft and laundering of funds from victims of cryptocurrency investment fraud schemes.

Crypto

Bitwise Turns ‘Really Bullish’ on Ethereum and Solana as Stablecoins Drive Structural Demand Shift

Published

15 hours ago

December 23, 2025

Press Room

Bitwise Turns ‘Really Bullish’ on Ethereum and Solana as Stablecoins Drive Structural Demand Shift

Bitwise says shifting crypto narratives are really bullish for Ethereum, Solana, and stablecoins, citing structural demand, ETF accumulation exceeding issuance, and regulatory momentum that could drive the market’s next growth phase into 2026 and beyond.

Crypto

Summit County Sheriff’s Office recovers over $100,000 in cryptocurrency investigation

Published

1 day ago

December 23, 2025

Press Room

Summit County Sheriff’s Office recovers over 0,000 in cryptocurrency investigation

SUMMIT COUNTY, Ohio (WOIO) – A City of Green resident reported being the victim of a cryptocurrency investment fraud in early October, resulting in a significant financial loss and opening an investigation.

The Summit County Sheriff’s Office Detective Bureau initiated an investigation utilizing detailed information and financial records provided by the victim.

According to a release from the sheriff’s office, there was assistance from Jackson Township Police Department’s cryptocurrency recovery “Trace Team” and detectives were able to successfully trace and recover $110,000 of stolen funds.

The sheriff’s office reminds the public to remain alert regarding cryptocurrency investment scams and fake investment platforms.

These schemes often begin by encouraging small initial investments that appear to generate returns, creating a false sense of credibility.

The sheriff’s office said once trust is established and larger investments are made, the funds are frequently transferred and become inaccessible.

For public safety, people are encouraged to thoroughly search any investment opportunity and exercise caution when dealing with unsolicited or online investment platforms.

The release from the sheriff’s office says that if anyone believes they may be a victim of cryptocurrency or investment fraud, they should immediately contact their local law enforcement agency and file an online complaint with the FBI’s Internet Crime Complaint Center at www.ic3.gov.

The Summit County Sheriff’s Office said it remains committed to protecting the community and working with partner agencies to investigate and combat financial crimes.