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Bitcoin Breakthrough: New Milestone and Regulatory System Challenges
The cryptocurrency industry has witnessed a series of significant developments, from record-breaking price increases to advances in regulation and technology, marking a turning point for digital assets. Bitcoin reached a new all-time high of $108,268, according to CoinMarketCap, after surging 60% since the U.S. election. This surge is believed to be due to President-elect Donald Trump's pro-cryptocurrency stance, which has bolstered investor confidence in the market. Trump's administration is expected to implement more cryptocurrency-friendly policies, further driving institutional interest in digital assets.
In addition to regulatory changes, CryptoCom CEO Kris Marszalek recently met with Trump to discuss future cryptocurrency policies. The company has also announced the withdrawal of its lawsuit against the SEC, signaling the possibility of resolving regulatory barriers. These developments indicate that the upcoming government may prioritize creating a favorable environment for cryptocurrency businesses.
In terms of technology, Tether has announced that their Hadron encryption platform will provide full API access in February. This upgrade aims to streamline integration for institutional investors, enabling seamless access to real-world asset (RWA) encryption.
Meanwhile, the activity of Ethereum whales has reached a record level, with only 104 wallets controlling 57.35% of the total ETH supply. This concentration raises concerns about market manipulation and price volatility in the future. Analysts warn that such dominance could lead to significant price fluctuations, impacting retail investors. In addition to market dynamics, global law enforcement agencies are increasingly focusing on cryptocurrency-related crimes. In Nigeria, the Economic and Financial Crimes Commission (EFCC) has arrested 792 individuals involved in a cryptocurrency romance scam targeting victims in North America and Europe. This activity highlights the challenges in managing and protecting the cryptocurrency market.
In other developments, Grayscale has launched Horizen Trust, providing investors with recognized access to ZEN without the need to buy or custody cryptocurrencies directly. This service caters to the growing demand for managed cryptocurrency investment vehicles.
Outside the cryptocurrency market, SoftBank CEO Masayoshi Son has announced a $100 billion investment over the next four years, focusing on artificial intelligence and technology. This is expected to create 100,000 jobs, emphasizing the intersection of blockchain, AI, and technological innovation in shaping the future of the global market. DYOR! #Write2Win #Write&Earn $BTC {spot}(BTCUSDT)