Welcome to this week’s crypto and financial news digest. Tether has made a strategic move by investing in StablR to accelerate stablecoin adoption across Europe, signaling growing interest in digital currencies on the continent. Meanwhile, Arthur Hayes, co-founder of BitMEX, predicts a major crypto market sell-off coinciding with Donald Trump’s inauguration on January 20, 2025. In global financial developments, El Salvador has secured a $1.4 billion loan agreement with the IMF to boost its economy. On the regulatory front, Jerome Powell stated that the Federal Reserve cannot control Bitcoin, highlighting the increasing decentralization of cryptocurrencies. Finally, France’s Groupe BPCE, the second-largest bank in the country, is preparing to open access to Bitcoin for 35 million users, signaling a significant shift in traditional finance.
Review of the past week:
| December 17, 2024 |
Tether invests in StablR to promote stablecoin adoption in Europe. Crypto exchanges in EU must delist Tether’s USDT by Dec. 30. Read more |
| December 18, 2024 |
Arthur Hayes published a new article in which he stated that on the day of Donald Trump’s inauguration on January 20, 2025, the crypto market will experience a terrible sell-off. Arthur also doubts the possibility of creating a national Bitcoin reserve. Read more |
| December 19, 2024 |
El Salvador has signed a loan agreement with the IMF for $1.4 billion. They will make the adoption of Bitcoin voluntary, as well as reduce government involvement in BTC-related projects. Read more |
| December 19, 2024 |
Jerome Powell Says Federal Reserve Cannot Hold Bitcoin. Powell commented in response to a question on whether he saw any value in a Bitcoin strategic reserve. Read more |
| December 20, 2024 |
France’s second-largest bank, Groupe BPCE set to open Bitcoin floodgates to 35 million users. Clients will gain access to crypto assets starting in 2025. Read more |
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