Crypto
The Crypto Industry’s 2024 Election Spending Spree
Cryptocurrency companies are on an unprecedented spending spree to oust politicians opposed to their agenda and to help elect pro-crypto candidates in the 2024 election cycle.
The cryptocurrency industry — valued at $2.5 trillion worldwide — has lobbied extensively against regulations to hold its industry accountable for widespread fraud and mismanagement of customer funds following spectacular market failures in 2022 that left many Americans without access to their money.
One of the main political action committees receiving funds from crypto companies has raised more than $202 million since January 2023 — a number that dwarfs the $27 million donated by disgraced former cryptocurrency billionaire Sam Bankman-Fried to a similar political action committee in 2022. Crypto’s booming influence is already in effect: the industry notched wins against politicians who opposed their regulatory agenda during the primary elections, former president Donald Trump has been parroting lobbyists’ questionable data on crypto’s use among Americans, and Sen. J. D. Vance (R-OH), Trump’s running mate, has deep ties to the crypto industry. Vance introduced a bill in 2023 that would shield banks from regulatory pressure to cut ties with customers over reputational risks — allowing them to work more freely with the crypto, gun, and oil and gas industries.
Just this weekend, advisers close to Vice President Kamala Harris, the Democrats’ presumptive presidential candidate, and other Democrats signaled that they too were open to more pro-crypto policies — highlighting a reset in how Democrats, namely the Biden administration, have pursued crypto policy.
“If we don’t have bitcoin, if we don’t have cryptocurrencies, we’re going to cede leadership in financial innovation of the twenty-first century,” Rep. Ro Khanna (D-CA) said during the Bitcoin 2024 conference on July 27. “All the Democrats who have preached that we don’t want to be isolationists, well, isn’t rejecting cryptocurrencies and bitcoin being isolationists?”
The industry’s lobbyists and donors will likely push key provisions from a shelved bill that would strip oversight authority from the aggressive and heavily staffed Securities and Exchange Commission (SEC) and give it to the less-staffed and less-funded Commodity Futures Trading Commission. The bill could also undermine investor protections and reduce the ability for states to enforce their own securities laws for cryptocurrencies, experts told the Lever.
As regulations for the nascent industry are still taking shape, this election could define how the crypto industry will be regulated for millions of consumers going forward — and major crypto companies, such as Coinbase and Ripple Labs, as well as venture capitalist firms like a16z, formerly known as Andreessen Horowitz, have poured tens of millions of dollars into the fight. In a press release describing its political spending, Ripple said the 2024 elections “will be the most consequential in crypto’s history.”
“Ripple will not — and the crypto industry should not — keep quiet while unelected regulators actively seek to impede innovation and economic growth that millions of Americans utilize,” said Ripple CEO Brad Garlinghouse. “The crypto industry intends to remain heavily invested in this effort until we see meaningful change.”
Coinbase, the largest US-based crypto exchange, issued a “call to action” to the alleged fifty-two million Americans who own crypto to advocate for more pro-crypto policies, however most of the action, money, and enthusiasm is coming from just a handful of wealthy people.
“The bulk of the money and energy is coming from half a dozen people,” said Mark Hays, a senior policy analyst for Americans for Financial Reform, a nonprofit dedicated to consumer protection and strict Wall Street regulations. “It’s [Andreessen Horowitz], it’s Ripple, it’s Coinbase . . . and not to be crass, but kind of white, male, billionaire Silicon Valley folks who are really looking to shape political outcomes to serve their business objectives through policy.”
The crypto industry has also targeted Gary Gensler, chair of the SEC, who has staunchly enforced securities law. Crypto companies have often said that current law lacks clarity for cryptocurrencies, but Gensler has levied dozens of enforcement actions against the industry, accusing some companies of offering unregistered securities. “Breaking the law and not liking the law are different than lack of clarity and, with all due respect, I think that is what we have a lot of in this field,” Gensler said during a recent Senate hearing on June 13.
The crypto industry has promoted the internet-based currencies, claiming that cryptocurrencies are an alternative to government-issued currencies, like the dollar or the yen. Cryptocurrencies have exploded in popularity in recent years, growing into a $2.5 trillion global industry; although, many buying crypto treat these currencies like investments, rather than using them for everyday purchases.
Crypto has been marketed to everyday consumers as a way to fight back against large banks that have screwed regular people over. Crypto companies ran commercials during the Super Bowl, placed ads in key locations around Washington, DC, during the 2022 primary elections, and publicized that their products were a way to earn passive income.
But crypto’s boom came to a screeching halt in 2022 after three major exchanges — Celsius, Terra, and Bankman-Fried’s FTX — failed. With the collapse of these online platforms, where digital currencies were bought, sold, and traded, millions of Americans lost access to their funds. Some people lost their life’s savings, and because the funds are not thoroughly regulated, many of the funds cannot be fully recovered. Now, as the 2024 election looms, crypto companies have discarded their old messaging of fighting big banks and standing up for the little guy, by partnering with major banks, leaning into libertarian values, and casting their support for Trump.
This includes the founder of Kraken, an exchange that allegedly violated sanctions against Iran; the Winklevoss twins, two brothers who were former business partners with Mark Zuckerberg in the early days of Facebook, who went on to create their own crypto exchange called Gemini; and others.
“President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice,” Tyler Winklevoss posted on X. “It’s time to take our country back. It’s time for the crypto army to send a message to Washington. That attacking us is political suicide.”
Trump has reportedly raised more than $4 million in cryptocurrency donations for his reelection. When he spoke at a bitcoin conference on July 27, he pledged to fire SEC chair Gensler “on day one,” and promised to make the United States “the crypto capital of the planet.”
Trump later held a conference after the event that reportedly cost $800,000 to attend. Leading the crypto industry’s political movement is Fairshake PAC, a crypto-backed political action committee that has accumulated a staggering $202 million since January 2023. Fairshake has been supporting pro-crypto candidates and trying to oust candidates — mostly Democrats — who have pushed back on the crypto agenda.
The group has spent more than $12 million against Democrats so far this election cycle, according to OpenSecrets. Josh Vlasto, a Fairshake spokesperson, is also a former aide to Sen. Chuck Schumer (D-NY) and previously served as chief of staff to former New York governor Andrew Cuomo (D).
Defend American Jobs, another crypto-focused political action committee, has raised nearly $20 million and spent more than $17 million since September 2023, according to federal election data.
“The crypto industry is spending hundreds of millions of dollars to distract policymakers and the public from its long rap sheet of criminal convictions, predatory conduct, illegal behavior, bankruptcies, lawsuits, and scandals,” said Dennis Kelleher, president of consumer advocacy group Better Markets. “These crypto PACs are looking to make the crypto industry’s work in Congress even easier by trying to defeat elected officials who put the public interest first and are not crypto-lackeys.”
The amount of money that has poured into campaign coffers has seemingly convinced Vice President Harris to adopt a more friendly position on cryptocurrencies, as the Democratic Party’s presidential candidate tries to cozy up to the tech and investor industries by having her advisers meet with industry leaders. It’s a transition echoed by others on the Left. Fourteen current members of Congress, as well as other politicians, recently sent a letter to Jaime Harrison, the Democratic National Committee chair, urging the party to adopt a more pro-crypto platform, and to potentially fire SEC chair Gensler. The decision to send the letter appears to stem from the crypto industry’s outsize role in elections.
“There is a public perception that the party holds a negative viewpoint on digital assets, largely due to the current SEC’s approach to these transformative technologies,” the group wrote. “We believe this previous hostility does not reflect our party’s progressive, forward-looking, and inclusive values. From an electoral standpoint, crypto and blockchain technologies have an outsized impact in ensuring victories up and down the ballot.”
Coinbase and a16z did not respond to requests for comment.
Before he was charged and sentenced to prison for twenty-five years, Bankman-Fried, the mop-topped billionaire who fashioned himself as a leader for the crypto industry, frequently lobbied lawmakers and lavishly donated to politicians overseeing key committees governing the crypto industry.
The industry faced major setbacks in the spring of 2023, when Silicon Valley Bank and Signature Bank — two institutions that partnered heavily with crypto and tech companies — failed after funding for start-ups began drying up amid rising inflation, and depositors made a run to pull their money out. After the collapse of those institutions, many crypto companies began partnering with major traditional banks that were deemed “too big to fail” during the 2008 financial crisis. These banks include JPMorgan Chase, Citi, Bank of America, Wells Fargo, and other regional banks.
These setbacks also opened up space for Coinbase to essentially fill the void vacated by Bankman-Fried.
“[Coinbase has] tried to take a more conservative approach than some of the more Wild West firms out there, but they, like everyone else, have a business model set up that is at odds with basic financial regulatory standards,” Hays with Americans for Financial Reform said.
Coinbase has donated a staggering $51 million to just seven groups so far this election cycle, according to federal records. The exchange gave $500,000 to both the Congressional Leadership Fund and the Senate Leadership Fund — two political action committees dedicated to electing Republicans.
Coinbase also gave $500,000 to HMP and SMP, two political action committees set up to elect Democrats. Nearly $46 million of Coinbase’s spending went to Fairshake alone. Coinbase Commerce, a Coinbase subsidiary, also gave $15.5 million to Fairshake, according to election data, bringing the total that Coinbase gave to Fairshake to at least $61.5 million.
According to OpenSecrets, Fairshake has spent money supporting both Democrats and Republicans, but who the group opposes is much different. Fairshake has spent $0 opposing Republicans and more than $12 million attacking Democrats in tight primary races.
Fairshake spent the bulk of its money — more than $10 million — opposing Rep. Katie Porter (D-CA) during a primary race for a senate seat against Rep. Adam Schiff (D-CA), who received an A-rating from the crypto industry. The group also spent more than $2 million opposing Rep. Jamaal Bowman (D-NY) during his primary race earlier this year, according to Follow the Crypto, a website dedicated to tracking crypto industry campaign spending.
Both Bowman and Porter were deemed “strongly against crypto” by Stand With Crypto, a nonprofit dedicated to “common-sense regulations for the crypto industry.”
Besides Coinbase, other major donors to Fairshake include Ripple Labs; AH Capital Management, an investment arm of a16z; Ben Horowitz and Marc Andreessen, cofounders of a16z; Jump Crypto, a blockchain technology company; Tyler and Cameron Winklevoss; and Brian Armstrong, Coinbase’s CEO. Coinbase, Ripple Labs, AH Capital Management, Horowitz, Andreessen, and even Fairshake have also donated to Defend American Jobs PAC, another political action committee dedicated to pushing pro-crypto candidates that has raised nearly $20 million. The committee has spent more than $15.5 million supporting Republican candidates so far this election cycle, according to OpenSecrets.
Additionally, Defend American Jobs has spent more than $500,000 supporting Blake Masters in a Republican primary race for a seat representing Arizona in Congress. Masters previously ran against Sen. Mark Kelly (D-AZ) in 2022, in which Masters ran an infamous and disturbing ad highlighting his intense love of guns.
In addition to generous campaign donations, crypto companies have also zeroed in on the key agencies overseeing their industry.
For years, the crypto industry has lobbied lawmakers and regulators to allow the Commodity Futures Trading Commission (CFTC) to govern crypto, rather than the comparatively heavily staffed and well-funded SEC. The CFTC has only 725 employees, a budget of $365 million, and has traditionally regulated trades and futures contracts for the agricultural and resource-based markets.
“The weakness that we have, or the shortcoming, is that we have to rely on folks coming to us and providing tips or complaints,” said CFTC chair Rostin Behnam during a June 13 Senate hearing. “We don’t have those traditional regulatory tools — registration, custody, surveillance, oversight — that have really made American capital and derivatives markets so strong.” The CFTC has oversight authority of bitcoin because the agency considers it a commodity and, to a lesser degree, the agency oversees certain activity on crypto exchanges. But the bulk of crypto regulation has historically been handled by Gensler’s SEC — a sprawling agency with more than 4,600 employees, and a budget of $2.1 billion.
The SEC has been aggressive at times in issuing enforcement actions against crypto exchanges and developers who create new cryptocurrencies, with actions dating back to 2012. The agency views cryptocurrencies as a security — a financial product akin to a stock issued by a company — which has much stricter oversight and enforcement than commodities overseen by the CFTC.
In 2023, the SEC issued forty-six cryptocurrency-related enforcement actions, more than double the amount the agency issued in 2022, according to Cornerstone Research, a financial analysis and legal firm. Crypto companies have painted Gensler as an enemy of crypto, and Gensler has not shied away from that label.
“It is a field that is rife with abuse and fraud,” Gensler said during a June 13 Senate hearing. “And some of the leaders of this whole field are either in jail, about to go to jail, or awaiting extradition. I mean tens of billions of dollars have been put at risk.”
According to lobbying disclosures, crypto companies, trade associations, and nonprofits associated with crypto have spent nearly $7 million in the first two quarters of 2024 lobbying lawmakers and regulators on a slew of crypto-related issues, including the Financial Innovation and Technology for the 21st Century Act (FIT21) — a bill packed with a number of crypto wish lists. Coinbase alone has spent more than $2.3 million so far this year lobbying lawmakers and regulators on the bill and other issues, disclosures show.
The FIT21 would create a new asset class specifically for cryptocurrencies, called “invest contract assets,” which exclude them from the definition of a security, and likely hands oversight from the SEC over to the CFTC, according to an analysis by Better Markets.
The bill would allow the CFTC to collect registration and annual fees from crypto exchanges, but those fees would be capped at $40 million annually and the ability to collect those fees would expire after four years.
“This fixed cap is especially problematic given the hundreds of exchanges currently offering bitcoins and the need for the CFTC to hire staff, draft regulations, acquire technology, and enforce the provisions of the bill and the new rules,” Better Markets wrote.
The bill would also, according to Gensler, adopt a structure that runs counter to decades of Supreme Court rulings that establish what is and isn’t a security. He’s concerned this could erode long-standing investor protections, and “undermine the broader $100 trillion capital markets.” “[Crypto exchanges] are choosing to not comply with US law that protects our capital markets,” Gensler said during Senate testimony. “Whether it is stored on an accounting ledger called blockchain or whether it is stored on a notepad, it doesn’t matter.”
The House of Representatives passed the crypto bill with two-thirds of lawmakers voting in favor. However, experts predict the bill will likely die in the Senate due to the Senate’s slower process of passing bills.
Currently standing in the way of the bill’s passage in the Senate is Sen. Sherrod Brown (D-OH), chairman of the Senate Committee on Banking, Housing, and Urban Affairs, which oversees the bill’s passage in the Senate. Brown has received an F-rating from Stand With Crypto, and has highlighted how cryptocurrencies have been used for illicit purposes.
Key provisions of the bill could still be attached to must-pass legislation before the year’s end.
Rep. Patrick McHenry (R-NC) has been one of crypto’s most important cheerleaders and is set to retire at the end of the current session. In an interview with CoinDesk, a crypto-focused news outlet, McHenry said that he is looking at “anything, and everything” to attach crypto legislation to before he leaves. “We basically have a consensus product out of the House of Representatives that gives us a fighting chance in every legislative product that makes its way to the President’s desk,” McHenry said.
Hays, with Americans for Financial Reform, said the bill offers a “patina of legitimacy” while undermining consumers and that the crypto industry is using the “Washington pay-to-play” rule book to push their agenda.
“The crypto industry has long claimed that it needs regulatory clarity to address crypto regulation for consumers and investors and that the old rules don’t work for them,” Hays said. “The problem is that this bill is really more of a cure that’s worse than a disease.”
Crypto
Bitcoin, Cerebras IPO mania, and the SpaceX speculation angle traders are watching | investingLive
Bitcoin is trading near $81,750, up around 2.5% at the time of publication, after rising almost 3.5% from today’s open to its session high. The move comes on the same day that Cerebras Systems (CBRS) delivered one of the most aggressive AI IPO debuts of the year, reinforcing a broader risk-on mood across speculative technology assets.
Cerebras priced its IPO at $185 per share, raising about $5.55 billion by selling 30 million shares, according to Reuters. The stock began trading on Nasdaq under the ticker CBRS, opened sharply higher, and traded as high as $385, more than 100% above the IPO price. (Reuters)
That matters beyond the semiconductor sector. A debut like this tells traders that the market is still willing to pay extreme premiums for scarce AI-related growth assets. When that happens, the same speculative psychology can spread into adjacent themes: AI infrastructure, private-market mega-valuations, Elon Musk-linked companies, and sometimes Bitcoin.
Why does the Cerebras IPO matter for Bitcoin sentiment?
The direct link between Cerebras and Bitcoin is weak. Cerebras is an AI semiconductor company, not a crypto company. But the sentiment link is more interesting.
A 108% intraday IPO move suggests that investors are again rewarding high-growth, high-narrative assets. Bitcoin often responds well when markets move into a risk-on liquidity environment, especially when the leadership is coming from technology, AI, and speculative growth.
This does not mean the Cerebras IPO “caused” Bitcoin to rally. It means the IPO may be part of the same broader market condition: investors are willing to chase upside when the narrative is powerful enough.
How does SpaceX fit into the Bitcoin story?
The confirmed SpaceX-Bitcoin connection is simple: Elon Musk said in July 2021 that SpaceX owned Bitcoin. During “The B Word” event with Jack Dorsey and Cathie Wood, Musk said he personally owned Bitcoin, Tesla owned Bitcoin, and SpaceX owned Bitcoin. (CoinDesk)
However, there is no confirmed operational SpaceX-Bitcoin integration. SpaceX does not appear to use Bitcoin for launches, Starlink is not known to be built on Bitcoin rails, and there has been no confirmed public disclosure showing that Bitcoin is central to SpaceX’s business model.
The stronger factual connection is treasury exposure, not infrastructure.
A second important point is that in 2023, the Wall Street Journal reported that SpaceX had written down the value of its Bitcoin holdings by $373 million across 2021 and 2022 and had sold Bitcoin, based on internal financial documents reviewed by the publication. (The Wall Street Journal)
So the clean timeline is:
| Year | SpaceX and Bitcoin development |
|---|---|
| 2021 | Musk publicly says SpaceX owns Bitcoin |
| 2023 | Reports say SpaceX wrote down and sold Bitcoin exposure |
| 2025-2026 | Crypto-market speculation continues around possible wallet activity and Musk-linked payment infrastructure, but wallet attribution is not audited corporate confirmation |
Why is the SpaceX IPO angle relevant now for crypto investors and traders?
SpaceX is widely viewed as one of the most anticipated potential IPOs in global markets. Some market commentary has discussed possible trillion-dollar valuation scenarios, although investors should treat specific valuation numbers carefully unless confirmed through official filings or reliable primary reporting. (Capital.com)
The connection for Bitcoin is not that SpaceX itself is necessarily buying Bitcoin today. The connection is more psychological:
-
Cerebras shows that AI and deep-tech IPO demand is extremely strong.
-
SpaceX would likely be seen as an even bigger narrative asset if it lists.
-
Elon Musk remains strongly associated with crypto markets.
-
Bitcoin can benefit when speculative capital rotates into scarce, high-conviction assets.
In other words, a huge Cerebras IPO does not prove anything about SpaceX or Bitcoin, but it does support the idea that the market’s appetite for mega-narrative assets is alive.
What is the most actionable Musk crypto angle?
For traders, the more actionable Musk-related crypto optionality may be X Money, not SpaceX.
Reuters reported in March 2026 that Musk said X Money would enter early public access in April, as part of the broader effort to turn X into a payments-enabled “everything app.” X previously partnered with Visa for payment functionality. (Reuters)
That does not confirm Bitcoin integration. But if X Money ever adds Bitcoin, Dogecoin, or broader crypto rails, that would likely be more directly relevant to crypto-market pricing than a speculative SpaceX IPO narrative.
Bitcoin trading read today
Bitcoin’s move to around $81,750 keeps the short-term tone constructive. The day is positive, the market is reacting well to broader risk-on signals, and the Cerebras IPO adds another data point showing that investors are willing to chase high-growth narratives.
Still, traders should separate confirmed facts from speculative fuel:
| Factor | Confirmed? | Bitcoin relevance |
|---|---|---|
| Cerebras priced IPO at $185 | Yes | Shows strong AI risk appetite |
| CBRS traded up to $385 | Yes | Reinforces speculative momentum |
| SpaceX has owned Bitcoin | Yes, based on Musk’s 2021 comments | Real but historical balance-sheet link |
| SpaceX sold or reduced Bitcoin exposure | Reported by WSJ in 2023 | Reduces certainty around current exposure |
| SpaceX IPO will directly lift Bitcoin | No | Speculative sentiment link only |
| X Money may eventually support crypto | Not confirmed | More actionable if verified |
Make or Break for Bitcoin: Inside the Psychological Battle at the 200-Day Moving Average and What It Means for the Broader Trend
BTSUSD (spot) daily chart with the 200 SMA indicator
Why Bitcoin traders watch the daily chart first
Short-term traders often live on the 1-minute, 5-minute, or 15-minute chart. That makes sense if they are scalping small moves. But for the bigger Bitcoin picture, the daily chart is still the main reference point.
The daily chart matters because it filters out a lot of the noise.
On smaller timeframes, Bitcoin can look bullish in the morning, bearish two hours later, and neutral by the end of the day. A single headline, a liquidation flush, or a short-term algorithmic move can distort the picture. The daily candle gives a cleaner view because it compresses the full trading day into one clear message: who controlled the session, buyers or sellers?
That is why the daily chart tends to carry more weight for serious market participants. Large funds, institutional desks, and longer-term crypto investors are not usually making major allocation decisions based on a 5-minute pattern. They are looking at the broader trend, the key daily levels, and whether Bitcoin is being accumulated or distributed over several sessions.
There is also a crowd psychology element. Because so many traders and investors look at the daily chart, the levels on that chart become important simply because everyone is watching them. When Bitcoin approaches a major daily moving average, a prior daily high, or a key daily support zone, it often attracts real order flow. Traders place entries there, stops gather there, and algorithms react there.
In crypto, that matters even more because Bitcoin trades 24/7. The daily chart gives the market a shared reference point in a market that never really sleeps.
Why the 200-day SMA matters more than a random moving average
There is nothing magical about the number 200 from a pure math perspective. A 157-day moving average, a 180-day moving average, or a 220-day moving average can sometimes fit price better during a specific period.
But markets are not driven by math alone. They are driven by human behavior, institutional habits, and widely followed reference points.
That is why the 200-day simple moving average matters.
It is one of the most watched long-term trend indicators in global markets. Stocks, commodities, crypto, ETFs, and indexes are all judged against it. When Bitcoin trades above the 200-day SMA, many market participants view it as healthier. When Bitcoin trades below it, the tone often becomes more cautious.
For many traders, the 200-day SMA acts like a macro line in the sand:
| Bitcoin vs. 200-day SMA | Common market interpretation |
|---|---|
| Above the 200-day SMA | Trend looks healthier, dips may attract buyers |
| Below the 200-day SMA | Market remains more defensive, rallies may be sold |
| Testing the 200-day SMA from below | A major trend-repair test |
| Rejecting from the 200-day SMA | Bears may still control the bigger structure |
This does not mean Bitcoin automatically becomes bullish the moment it touches the 200-day SMA. It means the market starts paying closer attention.
Why not use a 157-day SMA instead?
A 157-day SMA might look good on a backtest. It might even fit Bitcoin perfectly for a few months. But it does not have the same market weight.
The 200-day SMA has a network effect.
That means it matters because so many people use it. Retail traders watch it. Fund managers watch it. Analysts talk about it. Financial media report on it. Trading systems often include it. Risk models may also reference it.
A 157-day SMA does not have that same crowd behind it. If Bitcoin touches a 157-day SMA, most of the market will not notice. There are probably fewer orders around it, fewer stops around it, and less emotional reaction around it.
But when Bitcoin tests the 200-day SMA, the market notices.
That is why Bitcoin can often pause, reverse, accelerate, or consolidate around this level. It is not because the line itself has power. It is because the market gives it power.
Why the Golden Cross and Death Cross still get attention
The 200-day SMA is also important because it is part of two of the most famous long-term trend signals:
| Signal | What it means |
|---|---|
| Golden Cross | The 50-day SMA crosses above the 200-day SMA. This is usually viewed as a bullish macro signal. |
| Death Cross | The 50-day SMA crosses below the 200-day SMA. This is usually viewed as a bearish macro signal. |
These signals are not perfect. They can arrive late. They can also fail. But they still matter because they are widely followed and often reported by mainstream financial media.
In Bitcoin, these signals can influence sentiment, especially when they appear near major price levels, after a long correction, or during a broad risk-on move in tech and crypto.
What Bitcoin’s current 200-day SMA test means
Bitcoin is now testing the underside of its declining 200-day SMA. That makes this a major trend-repair moment.
A clean daily close above the 200-day SMA would not guarantee a new bull market, but it would send an important message: Bitcoin is trying to neutralize the broader downtrend. That could encourage more buyers to step in, especially if the breakout is supported by volume, stronger risk appetite, and follow-through in the next few sessions.
On the other hand, if Bitcoin fails at the 200-day SMA and rolls over, the market may read that as a sign that the bigger trend is still not fully repaired. In that case, traders may treat the move as another rally into resistance rather than a confirmed bullish shift.
For now, the key point is simple: Bitcoin is not just testing another moving average. It is testing one of the most watched macro trend lines in the market. That is why the reaction around this level matters
Today’s takeaway for Bitcoin investors and traders
Bitcoin’s positive session is not only about crypto. It is happening during a broader moment of aggressive risk appetite, with the Cerebras IPO showing how much capital is willing to chase AI and scarcity-driven growth stories.
The SpaceX angle is worth monitoring, but it should not be overstated. The confirmed connection is historical Bitcoin ownership. The speculative connection is that a future SpaceX IPO, especially one linked to Elon Musk, AI, Starlink, space infrastructure, and private-market scarcity, could strengthen the broader “Musk premium” across speculative assets.
For now, Bitcoin bulls want to see today’s strength hold into the close. A sustained hold above the current acceptance area would support the view that buyers are still in control. A failure to hold the day’s gains would suggest that the Cerebras-SpaceX-Bitcoin narrative is more of a sentiment spark than a durable driver.
Always do your own research and trade Bitcoin at your own risk only. The above is for educational purposes only.
Join our free investingLive Telegram channel for more market updates, trade ideas, and other gems: https://t.me/investingLiveStocks
- ADI Foundation and Settlemint launched a digital securities hub under ADGM’s 2026 regulatory framework.
- BCG projects digital assets will grow to $18.9 trillion by 2033 as institutional RWA adoption accelerates.
- Van Niekerk says the Settlemint blueprint allows global exchanges to launch 24/7 tokenized trading next.
Integrated Infrastructure for Institutional Adoption
ADI Foundation and Settlemint announced a partnership on May 13 to launch a new digital securities infrastructure on the ADI Chain, aiming to streamline the tokenization of assets within the Abu Dhabi Global Market (ADGM) regulatory framework.
The collaboration integrates ADI Foundation’s compliance-ready Layer-2 blockchain with Settlemint’s digital asset lifecycle platform (DALP). The combined system is designed to handle the entire lifespan of a digital security, from initial token creation and on-chain recording to post-trade servicing and management.
The move addresses a primary hurdle for institutional investors: the difficulty of coordinating issuance, trading, settlement, and custody across fragmented jurisdictions. By providing an integrated architecture, the partners aim to offer a unified pathway for institutions to move traditional assets onto the blockchain.
“The future of investment and trading will not only be digitized, but also available 24 hours a day, 7 days a week,” said Andrey Lazorenko, CEO of ADI Foundation. “Our partnership brings together market infrastructure, institutional-grade blockchain, and a digital asset lifecycle platform to tokenize equities and trade them on secondary platforms.”
According to a media statement, the platform utilizes Settlemint’s implementation of the ERC-3643 standard—a protocol specifically designed for security tokens to ensure compliance with regulatory requirements. While the partnership is initially focusing on equity tokenization, the infrastructure is built to support a variety of other tokenized securities and financial instruments, pending regulatory approval.
The announcement comes as institutional interest in real-world assets ( RWAs) on-chain continues to accelerate. According to data from RWA.xyz, tokenized RWAs currently represent approximately $30.92 billion in on-chain value, with tokenized U.S. Treasuries accounting for roughly $15.20 billion of that total. Market analysts expect this trend to scale significantly. A 2026 analysis by BCG suggests the digital asset market could surge from $0.6 trillion in 2025 to $18.9 trillion by 2033.
Matthew Van Niekerk, co-founder and president of Settlemint, characterized the partnership as a “blueprint” for the broader financial industry.
“This partnership proves that regulated, multi-asset tokenization at national scale on public blockchains is not just feasible, but live,” Van Niekerk said. He added that the infrastructure is intended to be a model that central securities depositories (CSDs), exchanges, and clearing houses can adopt to integrate digital assets into existing operations.
Crypto
BlackRock COO: Cryptocurrency Demand Surpasses Firm’s Expectations, Signaling a Shift in Value
BlackRock Chief Operating Officer Rob Goldstein revealed that demand for cryptocurrency has significantly exceeded the firm’s initial projections, marking a notable shift in institutional sentiment toward digital assets. Speaking during a Binance online stream, Goldstein addressed the market’s reception of BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, and outlined the asset manager’s broader strategic outlook on blockchain-based finance.
Demand Driven by Value Proposition, Not Speculation
Goldstein emphasized that the global demand for IBIT was stronger than anticipated, describing the interest not as fleeting speculative enthusiasm but as a recognition of a new value proposition rooted in emerging technology. He noted that investors are increasingly viewing cryptocurrency as a distinct asset class with potential for long-term portfolio diversification, rather than a short-term trading vehicle. This perspective aligns with BlackRock’s broader push to integrate digital assets into traditional investment frameworks.
Tokenization and the Future of Capital Markets
Goldstein predicted that the tokenization of capital market instruments remains in its early stages, with future growth expected to be measured in multiples rather than incremental percentages. He argued that blockchain infrastructure could fundamentally reshape how assets are issued, traded, and settled, reducing friction and increasing transparency. This view is consistent with growing industry interest in real-world asset (RWA) tokenization, a trend that major financial institutions are beginning to explore.
AI Agents and Digital Rail Transactions
In a forward-looking comment, Goldstein suggested that artificial intelligence agents will eventually conduct transactions directly via digital rails, or blockchain infrastructure, rather than logging into traditional bank accounts. This vision points to a future where automated systems interact with decentralized finance protocols, potentially streamlining operations across supply chains, payments, and asset management. While still conceptual, the statement underscores BlackRock’s attention to the convergence of AI and blockchain technologies.
The Education Gap Remains a Key Obstacle
Goldstein identified the primary barrier to broader adoption as a lack of investor education regarding the technical aspects of virtual assets and efficient portfolio allocation. Many institutional and retail investors remain uncertain about how to evaluate cryptocurrencies, assess risks, and integrate them into existing investment strategies. BlackRock’s emphasis on education suggests that the firm sees informed participation as critical to sustainable market growth.
Conclusion
BlackRock’s acknowledgment that cryptocurrency demand has exceeded expectations carries significant weight, given the firm’s status as the world’s largest asset manager with over $10 trillion in assets under management. Goldstein’s comments reflect a maturing institutional perspective that views digital assets not as a passing trend but as a structural evolution in finance. For investors, the key takeaway is that major financial players are moving beyond skepticism and actively building infrastructure for a tokenized future, even as educational gaps persist.
FAQs
Q1: What did BlackRock’s COO say about cryptocurrency demand?
Rob Goldstein stated that demand for cryptocurrency, particularly through BlackRock’s IBIT Bitcoin ETF, has exceeded the firm’s expectations, driven by a recognition of its value as an emerging technology rather than mere speculation.
Q2: What is BlackRock’s view on tokenization?
Goldstein described tokenization of capital market tools as still in its infancy, with future growth expected to be exponential. He believes blockchain infrastructure will play a key role in transforming how assets are managed and traded.
Q3: What is the biggest obstacle to cryptocurrency adoption according to BlackRock?
The main challenge is a lack of investor education on the technical aspects of virtual assets and how to allocate them effectively within a portfolio, according to Goldstein.
-
Cleveland, OH5 minutes agoNavy warship to be commissioned in Ohio for first time in 250 years
-
Austin, TX11 minutes agoNo. 3 Softball preview: NCAA Austin Regional – University of Texas Athletics
-
Alabama17 minutes agoAlabama’s Veterans Memorial Cemetery in Spanish Fort recognized as one of the best | WKRG.com
-
Alaska23 minutes ago
Governor Dunleavy Names Stephen Cox his new Counsel to the Governor – Mike Dunleavy
-
Arizona29 minutes agoHow to buy Arizona Cardinals tickets, 2026 NFL schedule release
-
Arkansas35 minutes agoBerlin Wall Segments Arrive in Arkansas for National Cold War Center
-
California41 minutes agoLive Updates: Candidates face off in the CBS News California and San Francisco Examiner Governor’s Debate
-
Colorado47 minutes agoFinal minute, full 2OT from Northwestern-Colorado lacrosse quarterfinal marathon