Bo Hines Appointed as Crypto Council Chair
President Donald Trump has appointed former college football player and GOP House candidate Bo Hines as the Executive Director of the Presidential Council of Advisors on Digital Assets (Crypto Council). Hines will partner with David Sacks to drive innovation and growth in the digital asset sector and provide the resources needed by industry leaders. Hines, who has previously received support from crypto-backed PACs for his political campaigns, joins a team that emphasizes reducing the regulatory burden on the crypto industry. Trump has also appointed former Treasury official Stephen Miran, who is critical of financial regulation, to chair the Council of Economic Advisers. These steps show that the new administration is embracing a crypto-friendly and innovative approach.
Michael Saylor Proposes a Strategic Bitcoin Reserve
MicroStrategy founder Michael Saylor has proposed a “Digital Assets Framework” that supports President Donald Trump’s proposed strategic Bitcoin reserve idea to reduce the US national debt and strengthen the country’s role in the digital economy. The framework provides a universal taxonomy for digital assets, robust compliance standards, and a framework for rights and responsibilities in the sector. Saylor proposes to increase demand for US Treasury bonds by growing the stablecoin market and solidify the US dollar as the global reserve digital currency. These policies could unlock trillions of dollars in wealth, spur innovation, and potentially eliminate national debt, he says, positioning the U.S. as a leader in the global crypto economy.
Bitcoin Reserve Could Cut U.S. National Debt by 35%
Asset management firm VanEck suggests that creating a reserve of 1 million Bitcoins, as proposed by Senator Cynthia Lummis, could reduce the U.S. national debt by 35% by 2049. The report assumes that the value of Bitcoin will grow at a CAGR of 25%, reaching $42.3 million by 2049, while the U.S. debt will rise from $37 trillion in 2025 to $119.3 trillion in 2049. VanEck details potential financing methods, such as repurposing confiscated Bitcoins, reallocating gold reserves, or a combination of both. The proposal is in line with Donald Trump’s administration’s ideas, which include designating Bitcoin as a reserve asset.
Argentina Leads Lithium Tokenization with Cardano
Argentina is preparing to launch the world’s first lithium tokenization project in the lithium sector using the Cardano blockchain. The project, led by Atómico 3, Zengate, and Alto Grande, will convert lithium ownership rights into digital tokens, making trading more accessible and transparent. The initiative aims to increase traceability in the sector while supporting ethical mining standards. Lithium tokenization will provide economic benefits to local communities, while offering liquidity and lower transaction costs for global investors. The project is scheduled to launch in the first quarter of 2025.
Rumble Raises $775 Million in Investment from Tether
Video-sharing platform Rumble has raised $775 million in investment from Tether. As part of the deal, $250 million will be allocated to growth projects, while the rest will be used in a stock buyback offer. Tether CEO Paolo Ardoino emphasized that the partnership shares values of freedom, independence, and transparency. The investment is seen as a significant step for Rumble to integrate crypto payments and offer innovative solutions through assets like Bitcoin. The transaction is set to close in the first quarter of 2025.
Trump’s AI and Crypto Czar David Sacks Moves to Advisory Role
David Sacks has downgraded his role as the Trump administration’s AI and Crypto Czar to a general advisory role, eschewing a full-time position that would require Senate confirmation. Sacks’s role has been reduced as he chose not to leave his investment firm Craft Ventures. Sacks will work under Michael Kratsios, who heads technology policy, and will guide technology strategy. While a more prominent leadership role was initially planned, the change reflects Sacks’ decision to balance government commitments with business.
Google to Require FCA Registration for Crypto Ads in the UK
Google will require crypto exchange and wallet ads in the UK to register with the Financial Conduct Authority (FCA) starting January 15, 2025. The new policy only allows advertisers to promote crypto products and services if they comply with local regulations. Hardware wallet ads will be accepted as long as they do not offer a commerce service. The change comes as the FCA is cracking down on unauthorized promotions and is seen as part of Google’s call for global regulatory compliance.
Chinese Car Dealer Invests $256 Million in Bitcoin Mining
Shanghai-based car dealer Cango Inc. has joined the ranks of major players in the industry by entering bitcoin mining with a hashrate of 32 EH/s. The company, which operates from data centers in the U.S., aims to take its place among the leaders by increasing its hashrate capacity to 50 EH/s by 2025. Cango, which has multiplied its revenues with the rise in bitcoin prices, produced 363 BTC in November and doubled its share value. The company predicts that its new mining operations will dominate its total revenues. With this move, Cango both diversified its activities and increased its market value to $ 500 million.
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BITCOIN (BTC)
BTC is priced at $ 96,120 as of the morning hours with a 1.00% gain in value. The first green zone, the 104,000 – 102,000 range, previously worked as a strong support, but the price broke this level downward. This zone may now act as resistance. The price is currently trying to hold on to the lower support zone of 96,000 – 94,000. If this support zone is maintained, an upward recovery may occur and the price may be expected to target the 102,000 level again. However, if this area is broken, selling pressure may increase, causing the price to move towards the next support level of 90.757. For an upward recovery, the price must first demonstrate a sustained movement above the 102,000 level. Sustaining above this level may allow the price to target 104,000 and above 108,000 levels again. However, the current outlook shows that the selling pressure continues and the price is testing critical support levels.
ETHEREUM (ETH)
ETH is priced at $ 3,338 with a 1.71% loss in value as of the morning hours. The price continued its downward movement by breaking the important support zones at 3,671 and 3,443 during this decline. Currently, the price is trying to hold on to the green support zone of 3,260 – 3,180. This zone stands out as a demand area where the price has encountered strong buyers in the past. If this level is maintained, the price can be expected to recover and start an upward movement and first test the 3,443 level. If this support zone is broken, the price is likely to experience a deeper correction and retreat to the 3,025 level. Further below, the 2,950 – 2,900 range stands out as a strong support zone. In the event of an upward recovery, the price must first regain the 3,443 level. If this level is maintained, the price can be expected to move towards the 3,671 and 3,829 resistance zones, respectively. However, it should be noted that these resistance levels may face strong selling pressure.
RIPPLE (XRP)
XRP is priced at $ 2.20 as of the morning hours with a 0.10% loss in value. Although the weekend was active for XRP, XRP, which closed negatively, started the new week with a horizontal negative movement. For XRP, which is moving in the critical support zone of $ 2.2305 – $ 2.16, if the $ 2.2305 level is broken and maintained above it for a possible positive trend, $ 2.3645 and then $ 2.4935 levels may be met as resistance. In a possible negative trend, if the $ 2.16 support level is broken and candle closings are seen, $ 2.0741 and then $ 1.9580 levels may be met as support zones where buyers are concentrated. It will be important for investors to carefully monitor the identified critical support and resistance levels.
AVALANCHE (AVAX)
AVAX is priced at $ 36.90 as of the morning hours with a 0.90% gain in value. Having a negative weekend, AVAX is moving in the support zone of $ 37.29 – $ 35.60. If the $ 35.60 level is broken and remains below it in a possible negative movement, the $ 33.68 – $ 33 levels will be critical for support. Below these levels, $ 30 appears to be the support zone where buyers are concentrated. In a possible positive movement, it will be important to follow the candle closings above $ 37.29. Then, in the continuation of the positive movement, the $ 40.18 and $ 42.50 levels maintain their resistance positions. It will be important for investors to carefully monitor the determined critical support and resistance levels.
SOLANA (SOL)
SOL is priced at $ 184 levels with a 2.15% gain as of the morning hours. SOL, which closed the weekend negatively like other crypto assets, encountered purchases at the support level of $ 177 and broke the $ 183 resistance level and is showing movement above it, but it will be important to see candle closings above $ 183. Then, in a positive trend, $ 191.26 and then $ 200.13 levels can be met as important resistance levels. If it cannot hold on to the possible $ 183 level, the $ 177 – $ 173 band can be expected to work as the critical support zone. Therefore, it is important for investors to carefully monitor the determined critical support and resistance levels.
