Crypto Week in Review: Donald Trump’s Bitcoin Moves, Ethereum ETF Trends, and New Treasury Leadership
Crypto Week in Review– This week, Bitcoin surged to $66,000, reaching its monthly highs, and the market sentiment began to shift bullishly. Donald Trump survived an assassination attempt and emerged strongly as the crypto President.
The German government has finally run out of Bitcoin, which comes as a relief to the crypto ecosystem. Additionally, the launch of the Ethereum exchange-traded fund (ETF) is just around the corner.
This Week in Crypto: Trump’s Near-Assassination and Market Reactions
The week in crypto kicked off with a dramatic turn of events—former US President Donald Trump narrowly escaped an assassination attempt while attending a campaign event in Pennsylvania. The attack, which involved a strike to the upper part of his right ear, led to Trump being swiftly escorted to safety and receiving medical attention for his injuries.
This shocking incident had a ripple effect on financial markets. Following the attack, Bitcoin saw a significant jump, rising from around $60,000 to $66,000. This surge is attributed to Trump’s strong ties to pro-crypto policies, which likely contributed to the increase in Bitcoin’s value.
At the same time, betting platforms like Polymarket are showing growing confidence in Trump’s prospects compared to Joe Biden. Biden’s odds of remaining president have dipped, particularly after his recent COVID-19 diagnosis.
German Government Concludes Bitcoin Sales
According to Arkham Intelligence, the German government has sold off its entire Bitcoin reserve. This action follows a previous seizure of 50,000 Bitcoin. Crypto expert Michaël van de Poppe explained that such liquidations are usually driven by legal requirements rather than market conditions.
While the crypto community might be breathing a sigh of relief, there are speculations that Germany could come to regret this decision in the future. Nonetheless, German officials assert that the sales were handled with care to minimize significant market impacts.
Potential US Treasury Leadership Shifts
Changes in the leadership of the US Treasury Department could have significant implications for financial regulations. Donald Trump hinted in a Bloomberg interview that he might nominate Jamie Dimon, the CEO of JPMorgan Chase, for the position of Secretary of the Treasury. This speculation follows a recent meeting with top business leaders, suggesting that Dimon may share favorable views towards Bitcoin.
At the same time, Christy Goldsmith Romero, nominated to chair the FDIC, has voiced support for banks that serve crypto companies. If confirmed, Romero’s position could represent a major policy shift, potentially easing current regulatory pressures on the cryptocurrency sector.
Crypto Exchange WazirX Loses $235 Million to Hackers
On Thursday, hackers stole approximately $234.9 million from the Indian cryptocurrency exchange WazirX. In response to the breach, the exchange halted withdrawals and launched an investigation into the incident.
Web3 security experts, including those from Cyvers, suspect that the notorious Lazarus Group may be behind the attack. This group is known for its sophisticated cyber operations and has been linked to previous high-profile breaches.
In a related development, cyber attackers targeting CDK Global reportedly received over $25 million in Bitcoin as ransom. This attack disrupted operations at around 15,000 car dealerships in the US, underscoring the ongoing cybersecurity threats faced by businesses.
Interestingly, the ransom payment was tracked through blockchain analysis, demonstrating that while cryptocurrencies offer some level of anonymity, transactions are still traceable and subject to investigation.
For the latest in crypto updates, keep tabs on Crypto Data Space.
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