Also: Which is faster: humans or robots?
GM. Feeling a little heartbroken when you read the latest headlines? Let’s keep these market updates smooth and fresh.
🇺🇸What did Donald Trump do on his first day?
🍋 Newsdrop: Vitalik Buterin’s reaction to criticism, human vs robot competition in China and more
🍍Today’s Market Taste
Yeah, so yesterday was a little embarrassing for the people who told everyone at work, “Shit, I’m going to be leaving after January 20th anyway.” If you need it, hmmm).
The crypto community expected Donald Trump to shout about cryptocurrencies through his inaugural address or executive order. Spoiler: That didn’t happen.
Unsurprisingly, the glass is starting to look half empty for many investors, with Bitcoin retreating to just over $100,000 from the $109,000 level reached yesterday.
Still, the Fear & Greed Index shows investors remain pretty excited about what’s next.
Of course, just because cryptocurrencies weren’t mentioned yesterday doesn’t mean the topic is off the table forever. In fact, Macroscope noted that it would have generally been inappropriate to bring up Bitcoin in that speech.
And you know what they say – when in doubt, zoom out.
It’s the virtual currency market. Some days they give you a reason to be cocky. Then they see you tripping over your confidence.
But…what doesn’t kill you makes you stronger?.right?..
🥝 Harvesting meme coins
Today’s meme coin recipe: part joke, part hype, 100% submission 🚀
name
Can be changed 24 hours
Baron William Trump BWT
▲
15.3K%
Justice for ZachXBT ZACHXBT
▲
12.2K%
TrustInWeb3 T3AI
▲
198%
QudeAI Framework QUDE
▲
one two three%
Data is current as of 6:40 a.m. EST.
Check out these meme coins and other coins here.
…Anyway, someday.
As mentioned earlier, Trump did not do much regarding cryptocurrencies on his first day in office. Neither the strategic Bitcoin reserve announcement nor Ross Ulbricht’s pardon, basically nothing was promised to the industry.
However, I can’t say that anything interesting happened.
1/ Reaction to Trump meme coin
Remember the Trump and Melania fracas we talked about yesterday? (If you haven’t read it 🤨 please read it here).
Well, California Rep. Maxine Waters wasn’t amused. No, she was worried too. Her view:
It’s a cash grab in Trump’s name and has zero real value.
If insiders sell out, those participating in the buy could end up with worthless tokens.
The lack of transparency regarding who purchased the tokens could be a national security issue, as foreign adversaries or sanctioned individuals could send money to him anonymously.
This makes cryptocurrencies look even more untrustworthy.
2/ SEC bids farewell to Gary Gensler
It’s official: Yesterday was Gary Gensler’s last day as SEC Chairman.
In a farewell statement, the committee thanked him for his “diligence and creativity,” noting that “it really took a lot of outside-the-box thinking to bring more than 100 lawsuits against crypto companies. It means that there was a need.
Long time no see, Gary. I hope we never have to cross paths again! 🥰
3/ New face (something like)
Mark Ueda will temporarily replace Gensler as SEC chairman until Trump’s nominee, Paul Atkins, is confirmed by the Senate. We like Ueda 😃👍 – He was critical of Gensler’s strict approach to cryptography.
Meanwhile, Caroline Pham will be sworn in as acting CFTC chair. We like her too 😃👍 – She’s been calling for better cryptocurrency regulation for some time.
4/ DOGE update
Yes, Trump signed an executive order creating the Department of Government Efficiency (DOGE). And Dogecoin is listed on the official website 🥹
And you know what? They had already made their first “efficiency cuts”. Vivek Ramaswamy, who was supposed to co-lead DOGE with Elon Musk, resigned before anything started.
He now has an even bigger dream – running for governor of Ohio.
Also, the relationship between Vivek and Musk, especially after Vivek went on a rant about how American culture “values mediocrity over excellence” and why big tech companies tend to hire foreign engineers. There are also rumors that there is some tension.
Either way, all this drama has been great for Dogecoin.
Ah, that’s the tea for now. Yes, the first day didn’t bring about a cryptocurrency revolution, but it was off to a strange start. This is very on-brand for cryptocurrencies.
Do you like juice? 🍋 Don’t manage this. Share the Daily Squeeze and let your friends taste the sweetness of Web3! Fair warning, you’ll have to carry the weight of being a hero.
🍋 News drop
🗑 President Trump has yet to sign any crypto-related legislation, but he did rescind Biden’s executive order on AI. The order required AI developers to share safety tests with the government to avoid significant risks.
💬 People are asking the Ethereum Foundation to stake Ether and earn interest instead of selling tokens to cover expenses. In response, Vitalik Buterin said that he is working on ways to reduce the anxiety of staking.
🏃 China is preparing something like a science fiction fever dream. It’s a 21-kilometre race between an army of 12,000 humans and humanoid robots. And it’s not just for show. Whether it’s powered by muscle or a motherboard, the prize is on the line.
🤝 Hashgraph Association has partnered with Taurus, a digital asset infrastructure provider. These make it easy for banks and large corporations to safely stash, stake, and tokenize HBARs and other assets.
🇲🇹 Winklevoss twins’ crypto exchange Gemini has chosen Malta to set up its compliance hub. the goal? To ensure full compliance with Europe’s new MiCA regulations.
🧃 A tidbit of knowledge
Learn about the WhiteBridge project in the latest BitDegree mission, “WhiteBridge: AI Agent-Driven People Research.”
🍌 Juicy Memes
