Trump team plans to establish the first cryptocurrency position in the White House
On November 21, it was reported that the Trump team is evaluating whether to establish a dedicated position in the White House to serve the cryptocurrency industry, which would be the first of its kind since the birth of the cryptocurrency industry.
Increasingly clear regulation drives the crypto market towards a "DeFi Summer"
With clearer regulation and a crypto-friendly sentiment, DeFi and stablecoins are expected to experience rapid growth. Data shows that the total locked value (TVL) of the DeFi market has soared by 31%, while the stablecoin market has risen by about 4%. Institutional investors' interest in cryptocurrencies has reached a record high, and the inflow of Bitcoin ETF funds is expected to exceed that of gold ETFs, signaling a strong willingness of investors to shift to digital assets.
Grayscale conducts reverse stock split to improve the cost-effectiveness of crypto ETFs
On November 19, Grayscale Investments completed the reverse stock split of its two cryptocurrency ETFs: the Grayscale Bitcoin Mini Trust ETF and the Grayscale Ethereum Mini Trust ETF, with the aim of making the securities more cost-effective for investors. Grayscale emphasized that shareholders do not need to take any action, as the reverse stock split will be done automatically, and their holdings will remain unchanged.
Fed's Bowman expresses concern about rate cuts during persistently high inflation
On November 21, Federal Reserve Governor Bowman expressed concern about rate cuts while inflation remains above 2%. She emphasized that progress towards the 2% inflation target has stalled, and at this time, rate cuts should be cautious to monitor their subsequent impact, especially on the labor market.
Japan plans to approve an economic stimulus package with tax reforms by the end of 2024
Japanese Prime Minister Kishida has pledged to hold cross-party discussions to push for tax reform, with the goal of approving an economic stimulus package by the end of 2024. The proposed tax reforms include adjustments to income tax, corporate tax, and cryptocurrency tax. This move marks a significant shift in the ruling party's policy.
Phantom surpasses Google to become the most popular app in the US
On November 21, according to appfigures data, the Phantom crypto wallet has surpassed Google and topped the US App Store's Tools category.
