Chris Giancarlo Named First US “Crypto Czar”
Former CFTC Chairman Chris Giancarlo, known as the “Crypto Dad,” is one of the strongest candidates to become the first “Crypto Czar” under President-elect Donald Trump. Giancarlo has criticized the SEC’s failure to create clear crypto regulations, advocating for increased CFTC authority and more specific policies for digital commodity markets. Trump’s crypto-friendly agenda includes measures such as creating a Bitcoin reserve, enacting stablecoin legislation, and protecting personal wallets, aiming to make the U.S. a global crypto leader. Giancarlo and Trump may have different views on central bank digital currencies (CBDCs). Giancarlo supports private sector solutions in digitizing the dollar and emphasizes the importance of protecting financial privacy.
Tether’s Liquidity Pool Could Hit $5 Billion by 2026
Tether CEO Paolo Ardoino said the company’s commodity-focused liquidity pool, Tether Investments, could grow to $3 billion to $5 billion by 2026 and plans to generate interest income by financing commodity trades. In October, Tether entered the $10 trillion trade finance industry by financing a $45 million oil trade involving 670,000 barrels of crude. Ardoino noted that USDT’s use in commodity trading increases transparency and speed, and has seen significant interest, particularly in emerging markets. Tether Investments aims to continue its growth in traditional finance by supporting oil, natural gas and gold trades.
Brazil Plans to Establish Bitcoin Reserve
Brazilian MP Eros Biondini has introduced a bill to create a national Bitcoin reserve, called the “Strategic Sovereign Bitcoin Reserve” (RESBit), in an effort to diversify the country’s financial assets. The bill proposes that up to 5% of Brazil’s roughly $372 billion in international reserves be allocated to Bitcoin through a gradual purchase strategy. The bill draws inspiration from innovative strategies such as El Salvador’s adoption of Bitcoin as legal tender and the approval of spot Bitcoin ETFs in the US. Analysts compared Brazil’s proposal to similar initiatives in the US, noting that a global trend is underway for countries to create Bitcoin reserves.
Trump Administration Poised to Give CFTC Authority Over Crypto Regulation
The Trump administration is planning to expand the powers of the Commodity Futures Trading Commission (CFTC) in a bid to expand its authority over the $3 trillion crypto market, which could end years of regulatory disputes with the SEC. The move aims to give the CFTC more authority to oversee digital commodities like Bitcoin and Ethereum, as well as their trading platforms, providing lighter regulations to encourage blockchain innovation. Former CFTC Chairman Chris Giancarlo has expressed confidence that the agency is ready to effectively regulate digital assets. While the SEC has been criticized for its aggressive enforcement and alleged overreach, if Congress approves this change, the “crypto jurisdiction battle” between regulators could come to an end.
Ripple Donates Another $25 Million to Fairshake
Ripple Labs has pledged an additional $25 million to the crypto-focused Fairshake political action committee (PAC) to bring its total fundraising for the 2026 congressional elections to $103 million. Fairshake has helped elect more than 90% of crypto-friendly candidates, raising more than $200 million in 2024. Ripple CEO Brad Garlinghouse called Fairshake the most successful bipartisan PAC in U.S. history, emphasizing the importance of supporting crypto-friendly legislation. With the support of major donors like Coinbase and a16z, Fairshake remains a powerful political force in Washington, continuing to champion crypto innovation and growth.
Cardano Launches Zero-Knowledge Smart Contract
Cardano has achieved significant success by launching the Zero-Knowledge smart contract with the Plutus v3 ledger language to expand its blockchain capabilities. The ZK contract Halo2 provides secure transaction verification without exposing sensitive data and supports integration with public chains such as Midnight. Built on the PLONK protocol, Halo2 is a zk-SNARK system that has a modular structure, does not require a trusted setup, and supports progressive proofs for scalability. Validated by the Input-Output Research team, the system demonstrated advanced cryptographic applications that pave the way for more efficient and secure blockchain use cases.
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BITCOIN (BTC)
BTC is priced at 95,490 with a 0.38% loss in value as of the morning hours. The price is currently trading at 95,459.99 and is observed to be in a short-term recovery process. However, it is seen that the price has been rejected and pulled back from the previous peak area close to 100,000. This area appears as a strong resistance area. When we look at the support levels, it is seen that the price is currently holding above an important support level of 93,283.72. If a break below this level occurs, the next support area is at 86,628.74. This area can be considered a critical level where the price can encounter buyer demand. In upward movements, the price is likely to test the 100,000 level again. However, it is likely to encounter strong resistance at this level. If this area is exceeded, price movements can be expected to accelerate and create new peaks.
ETHEREUM (ETH)
ETH is priced at $3406 as of the morning hours, losing 1.75%. The price has broken previous resistance levels and continued its rise by exhibiting a strong upward movement. However, it is necessary to pay attention to the region where the price is currently located because the price has approached a resistance area within the expanding orange band above. When we look at the support levels, the levels of 3,248.52 and 3,175.47 appear to be important support areas in the short term. These areas can be evaluated as levels where the price can hold in the event of a possible pullback. Further below, the level of 2,819.69 stands out as a stronger support area. In upward movements, it should be kept in mind that if the price breaks the current resistance, the target may continue towards the levels of 3,800. However, this resistance area must be overcome with a volume break. Otherwise, the price may be rejected from the resistance area and retreat back to the support levels.
RIPPLE (XRP)
XRP is priced at $1.4680 with a 0.10% loss as of the morning hours. XRP, which ended its 4-day decline series as of yesterday, closed the day with an increase of around 5%. It seems to have been rejected from the resistance level of $1.4965. If it continues its negative trend, it can be expected that first $1.3824, then $1.3055 – $1.2737 will act as support. In a possible upward movement, it will be important to break the $1.4964 level and maintain it above. If it is maintained, the rise may continue to $1.6323. Therefore, it is important for investors to carefully monitor the critical support and resistance levels determined.
AVALANCHE (AVAX)
AVAX is priced at $43.10 with a 1.53% loss in value as of the morning hours. AVAX, which started the new day negatively after a 2-day series, seems to have been rejected from the critical resistance level of $43.72. If the negative trend continues, the $41.24 and $40.05 levels may work as critical support. If these levels are broken, a pullback to $37.75 may be seen. In a possible positive trend, breaking the 43.72 level and maintaining stability above it will be important. If this level is broken, the $48.25 levels can be tested with an increase in accordance with the OBO formation. Therefore, it is important for investors to carefully monitor the determined critical support and resistance levels.
SOLANA (SOL)
SOL is priced at $239.10 with a 1.18% loss in value as of the morning hours. SOL, which ended its 4-day decline series yesterday, closed with a 4.89% increase yesterday. For SOL, which started the new day negatively, if the downward movement continues, the 233.34 – 229.46 area can be expected to work as support. If it cannot hold on to these levels, it may face deeper sales up to the 221.68 level. In a possible positive trend, if it can stay above the $243.42 level, the rise to the $248.13 and $259.94 levels can be supported, respectively. Therefore, it is important for investors to carefully monitor the determined critical support and resistance levels.
