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The biggest crypto news of the past week
Monday May 13, 2024 ▪ 4 min reading ▪ by Luc Jose A.
Between revolutionary announcements, technological progress and regulatory upheavals, the crypto ecosystem continues to prove that it is both a landscape of limitless innovation and a field of regulatory and economic battles. Here is a summary of the most notable news from the past week regarding Bitcoin, Ethereum, Binance and Solana, among others.
Trump eyes favorable crypto future if re-elected
Donald Trump recently expressed strong support for the cryptocurrency industry at an event at Mar-a-Lago, criticizing the Biden administration for its hostility toward the sector. He promises to promote the adoption of cryptos in the United States if he is re-elected in 2024. Trump contrasts his economic vision and financial freedom with Democrats’ skepticism about the risks of cryptos. The 2024 elections are seen as crucial to the regulatory future of digital assets in the United States. Biden’s policies currently aim to curb the rise of decentralized cryptocurrencies.
Bitcoin ETFs are attracting pension funds!
Pension funds, traditionally cautious, are starting to show interest in Bitcoin ETFs. Large asset managers like Fidelity and BlackRock are now talking openly with these institutional investors. Interest from pension funds, with assets of over $4 trillion, could significantly propel the Bitcoin market. Even a small allocation of these funds to Bitcoin could lead to a massive influx of capital into the crypto market. This development could cement the adoption of cryptocurrencies by the general public and traditional institutional investors, marking a turning point towards the maturity of the cryptocurrency market.
VanEck launches the memecoin index!
VanEck introduced an index dedicated to memecoins, called Marketvector Meme Coin Index, focusing on six main memecoins with a maximum weighting of 30% each. This index aims to provide a structured approach to valuing these often volatile assets. The selection of memecoins for the index is based on various parameters such as current price and historical performance, with monthly reviews to maintain representativeness. VanEck’s initiative could attract more serious investors to the memecoin market. This innovation marks an important step towards the maturity of the cryptocurrency market by providing more sophisticated analysis tools for these digital assets.
Mastercard and banks are reinventing transactions!
Mastercard is partnering with banks like Citi and JPMorgan to transform crypto transactions through asset tokenization, using a shared ledger to improve the security and efficiency of transactions. Mastercard’s Regulated Settlement Network (RSN) project aims to establish a legal framework to integrate these innovations into the digital economy. Institutions like Swift and Deloitte are also involved, highlighting the importance of this global initiative. In the United States, the debate over central bank digital currencies (CBDCs) continues, with privacy concerns. The project aspires to a future where financial transactions are instantaneous and secure, thereby redefining the standards of global finance.
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Luc José A.
A graduate of Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I took the commitment to raise awareness and inform the general public about this constantly evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. I strive every day to provide an objective analysis of current events, to decipher market trends, to relay the latest technological innovations and to put into perspective the economic and societal issues of this ongoing revolution.
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.