Crypto
Bitcoin price: Top cryptocurrency hit $80,000 as Trump don nearly sweep US Congress – BBC News Pidgin
Wia dis foto come from, Getty Images
- Author, Peter Hoskins
- Role, Business reporter
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Di price of bitcoin don rise above $80,000 (£62,000) for di first time ever, after Donald Trump victory for di US election last week.
E come as di Republicans dey closer to overall control of Congress after dem secure di presidency and a majority for di Senate.
On di campaign trail, di president-elect pledge to make US “di crypto capital of di planet”.
Di value of di world biggest cryptocurrency now don rise by more dan 80% dis year.
Other cryptocurrencies, including dogecoin – wey don dey promoted by high-profile Trump supporter Elon Musk – dey also make gains.
In di run-up to di election, Trump say e go create a strategic bitcoin stockpile and appoint digital asset-friendly financial regulators – e bring on expectations say e go pull back regulations on di crypto industry.
Trump don say one of im first actions as president go be to sack di current chair of di Securities and Exchange Commission (SEC), Gary Gensler.
Mr Gensler, wey Joe Biden appoint for 2021, do lead di SEC crackdown on di crypto industry.
“If Trump administration no deregulate crypto, e dey hard to see how e no dey bullish for di sector,” Matt Simpson, market analyst for StoneX Financial tell BBC, adding say such a move fit lead bitcoin prices to jump to as high as $100,000.
But “it e still dey vulnerable to bad selloffs along the way – wey fit dey less kind to smaller pockets,” e add.
Trump broader agenda, wey include cutting taxes and reducing regulations on businesses, don also driven increase in oda investments since e win di election.
With Republicans in control of di executive and potentially both di legislative branches of di government, dem go dey able to advance im ideas through each chamber and send those bills for am to sign into law.
Kraken Valued at $13 Billion After Deutsche Börse Stake
Deutsche Börse has taken a minority stake in crypto exchange Kraken, marking one of the clearest signs yet of Europe’s largest market operator deepening its exposure to digital assets.
The German exchange group said it invested $200 million in Payward, Kraken’s parent company, securing roughly a 1.5% fully diluted ownership. The transaction values Kraken at about $13.3 billion, according to reporting by Bloomberg.
The move builds on an existing relationship between the two firms and signals a broader push to integrate traditional financial infrastructure with crypto markets. The partnership is expected to focus on regulated offerings, including tokenized assets and derivatives, while improving liquidity for institutional clients.
As part of the collaboration, Kraken will integrate with 360T, Deutsche Börse’s foreign exchange trading platform. The connection is designed to provide Kraken users with access to bank-grade foreign exchange liquidity, potentially streamlining the conversion between fiat currencies and digital assets.
The companies also plan to expand the use of Kraken Embed, a service that allows institutions to offer crypto trading and custody under their own brands. The initiative targets banks, fintech firms, and asset managers seeking to enter the digital asset space without building infrastructure from scratch.
Further developments are expected, subject to regulatory approval. These include enabling trading of derivatives listed on Eurex, Deutsche Börse’s derivatives exchange, through Kraken’s platform.
The investment underscores a growing convergence between established financial institutions and the crypto sector. For Kraken, the backing from Deutsche Börse provides capital and strategic alignment with one of Europe’s most influential financial market operators. For Deutsche Börse, the stake offers a direct foothold in a global crypto platform at a time when competition for digital asset infrastructure is intensifying.
The deal also reflects a broader trend of legacy financial firms moving beyond exploratory partnerships toward equity investments in crypto companies. By combining trading, custody, and tokenization capabilities, both firms are positioning themselves to capture a larger share of institutional flows into digital assets.
Key Takeaways:
- Alameda moved $16 million worth of SOL to a wallet linked with repayment efforts, signaling ongoing FTX creditor payouts.
- Alameda still holds 3.5 million SOL ($294 million), meaning supply overhang may impact solana markets.
- FTX-era asset releases since 2022 suggest continued distributions could shape liquidity next.
Alameda Unstakes SOL, Signals Ongoing Creditor Distributions
Alameda Research has transferred roughly $16 million worth of solana ( SOL) tokens after unstaking the assets, in a move that points to continued creditor repayments tied to the collapse of FTX.
Blockchain data tracked by Arkham Intelligence shows the tokens were sent to an address previously associated with distribution efforts. The transaction follows a similar pattern observed in recent months, where unstaked assets were routed to wallets linked to reimbursing creditors.
While there has been no official confirmation that the latest transfer will be distributed immediately, the repetition of this process suggests it forms part of a structured repayment strategy rather than a one-off movement.
Unstaking allows previously locked tokens in proof-of- stake networks to be withdrawn and made liquid. In this case, it enables Alameda to free up assets that can be redirected toward obligations stemming from FTX’s bankruptcy proceedings.
The latest transfer comes about a month after a comparable transaction, when Alameda moved a similar tranche of SOL to the same destination address. That earlier move reinforced expectations that such transfers are tied to ongoing creditor payouts.
Despite the asset sales, Alameda retains a substantial position in solana. The firm still holds approximately 3.5 million SOL, valued at around $294 million, according to Arkham data.
Solana remains one of the largest digital assets by market value, with a capitalization of about $47 billion. The token has traded near $82 in recent sessions, significantly below its peak of $293 reached early last year.
Alameda, founded in 2017 by Sam Bankman-Fried, was once a dominant trading firm in the crypto market. It played a central role in providing liquidity across exchanges and operated extensively in spot and derivatives markets.
Its fortunes shifted dramatically following the collapse of FTX in late 2022, which triggered a wave of insolvencies and legal proceedings. Since then, asset recovery and creditor repayment have been central to the restructuring process.
The steady movement of funds such as SOL highlights the scale and complexity of unwinding Alameda’s positions. Each transfer offers a signal, albeit indirect, of progress in returning value to creditors.
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