Guys, Donald Trump’s inauguration speech didn’t mention Bitcoin or crypto, but that doesn’t mean he’s ignoring the digital asset scene. Coinbase CEO Brian Armstrong thinks Trump’s team will focus on stablecoin regs, and Bank of America CEO Brian Moynihan sees crypto payments on the horizon. 🎉🚀
Before Trump even took office, his name was on a memecoin that skyrocketed to $15 billion in value. And this week’s Crypto Biz covers Trump’s chaotic first few days, World Liberty Financial’s crypto shopping spree, and a new AI project that could put America back in the tech lead. 🛍️👨💼
TRUMP Memecoin Soars to Top 15 in 48 Hours 📈
On Jan. 17, the official TRUMP memecoin launched on Solana, causing a trading frenzy. In just two days, TRUMP became the 15th-largest crypto in the world. Its value peaked at over $73 but has since dropped below $40. 🤑📉
First Lady Melania Trump even got in on the action, minting her own memecoin that attracted 500,000 users within hours. Trump himself was clueless about the whole thing, saying, “I launched it, it was very successful.” 🙄👏
World Liberty Financial Snaps Up ETH and More 🙌
Trump-backed crypto venture World Liberty Financial spent $48 million on Ether (ETH) this week, hinting at a bigger role in the crypto market and Ethereum network. Eric Trump teased big plans, but so far, nada. 😅🤷♂️
World Liberty also bought Tron (TRX), Chainlink (LINK), Aave (AAVE), and Ethena (ENA), solidifying Trump’s crypto involvement beyond just memes. 🤔👀
US Asset Managers File for Memecoin ETFs 📋💰
The TRUMP memecoin craze might have inspired Osprey Funds and Rex Shares to apply for new crypto ETFs. They’re seeking approval for ETFs for TRUMP, Dogecoin (DOGE), and Boonk (BONK). 🐶🚀
With SEC head Gary Gensler now a “waste bin” resident, asset managers expect a green light for these ETFs. Bitcoin ETFs have been huge successes, so who knows what could happen with memecoin ETFs? 🤞💸
Trump Unveils $500B AI Infrastructure Venture 🏗️🤖
Just one day after his inauguration, Trump announced Stargate, a $500 billion AI infrastructure project. It’ll be funded by private investors like OpenAI, SoftBank, and Oracle, not taxpayers. 🙌🚫
Stargate aims to create jobs and keep AI innovation in the US. Trump sees China as a rival in the AI race, and Stargate is part of his plan to stay ahead. 🇨🇳💥
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2025-01-25 00:05