Welcome to our 205th issue of State of the Market, where we provide an overview of crypto market activity from January 16 – January 22, 2025.
This week in crypto markets:
- Donald Trump was sworn in as the 47th U.S. President, signing an executive order with pro-crypto initiatives aimed at making the U.S. the global crypto capital.
- The SEC launched “Crypto 2.0”, a task force to establish clear crypto regulations, and repealed SAB 121, allowing banks to custody digital assets.
- Trump launched the $TRUMP memecoin, briefly reaching a $70 billion valuation before pulling back.
- Circle acquired Hashnote, launched US Yield Coin (USYC), and announced plans for native USDC support on the Canton Network.
- MicroStrategy added $1.1 billion in Bitcoin to its holdings, reaffirming its status as the top corporate BTC holder.
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