Donald Trump

Bitcoin

<p class="is-style-lead">Bitcoin claims the historic $100,000 milestone, President-elect Donald Trump picks former SEC commissioner Paul Atkins to replace Gary Gensler as agency chair, and more in today’s edition of the weekly recap.</p> 
<h2 class="wp-block-heading" id="bitcoin-breaches-100-000">Bitcoin breaches $100,000</h2> 
<ul class="wp-block-list"> 
 <li>Trump <a href="https://crypto.news/trump-celebrates-bitcoins-100k-milestone-in-truth-social-post/" target="_blank">congratulated</a> the crypto community when Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) <a href="https://crypto.news/bitcoin-hit-100000-for-the-first-time-in-the-history/" target="_blank">hit</a> the historic $100,000 milestone on Dec. 5, soaring to a new all-time high above $103,000. At last check Sunday, the top cryptocurrency was trading at around $99,554. </li> 
</ul> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="763" src="https://crypto.news/app/uploads/2024/12/chart30-1024x763.png" alt="Bitcoin milestone, Trump nominates new SEC chair, Solana ETFs, Cardano | Weekly Recap - 18" class="wp-image-14317389">
 <figcaption class="wp-element-caption">
  Source: <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="nofollow">CoinGecko</a>
 </figcaption>
</figure> 
<ul class="wp-block-list"> 
 <li>Meanwhile, defunct exchange Mt. Gox <a href="https://crypto.news/mt-gox-moves-24000-btc-following-bitcoins-100k-milestone/" target="_blank">moved</a> 24,000 BTC, triggering selloff fears.</li> 
</ul> 
<h2 class="wp-block-heading" id="trump-s-sec-pick-and-crypto-czar">Trump’s SEC pick and crypto czar</h2> 
<ul class="wp-block-list"> 
 <li>On Truth Social, Trump <a href="https://crypto.news/president-trump-confirms-paul-atkins-as-top-pick-for-sec-chair/" target="_blank">announced</a> his decision to nominate Paul Atkins, a former SEC commissioner, to lead the SEC as chairman. Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty <a href="https://crypto.news/ripple-executives-praise-trumps-pro-crypto-sec-head-pick/" target="_blank">supported</a> Atkins’ candidacy alongside the rest of the crypto community.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Shortly after, Trump’s team <a href="https://crypto.news/trump-pick-david-sacks-as-white-house-ai-crypto-czar/" target="_blank">confirmed</a> that venture capitalist David Sacks would lead the administration’s newly created White House artificial intelligence and crypto department.</li> 
</ul> 
<p> You might also like: <a rel="" href="https://crypto.news/why-paul-atkins-trump-sec-chair-gives-crypto-hope/"> Why Paul Atkins, Trump’s SEC chair pick, gives crypto a reason to hope again </a> </p> 
<h2 class="wp-block-heading" id="xrp-finally-breaches-2">XRP finally breaches $2</h2> 
<ul class="wp-block-list"> 
 <li>XRP (<a href="https://crypto.news/price/xrp/" target="_blank">XRP</a>), which began December at $1.95, quickly breached the $2 milestone on Dec. 1 for the first time in seven years. XRP soared to a peak of $2.9 before retracing.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Amid the uptrend, XRP’s market cap <a href="https://crypto.news/xrp-flipped-usdt-and-solana-after-price-surged-by-27/" target="_blank">surpassed</a> Tether (<a href="https://crypto.news/price/tether/" target="_blank">USDT</a>) and Solana (<a href="https://crypto.news/price/solana/" target="_blank">SOL</a>), as the altcoin secured the third spot among the largest crypto assets.&nbsp;</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>As XRP cemented its position in the limelight, leading asset manager WisdomTree <a href="https://thecryptobasic.com/2024/12/02/wisdomtree-officially-seeks-sec-permission-to-launch-xrp-etf-in-the-us/" target="_blank" rel="nofollow">filed</a> to launch an XRP ETF with the U.S. SEC, becoming the fourth firm to submit such filing.&nbsp;</li> 
</ul> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="763" src="https://crypto.news/app/uploads/2024/12/chart31-1024x763.png" alt="Bitcoin milestone, Trump nominates new SEC chair, Solana ETFs, Cardano | Weekly Recap - 19" class="wp-image-14317394">
 <figcaption class="wp-element-caption">
  Source: <a href="https://www.coingecko.com/en/coins/xrp" target="_blank" rel="nofollow">CoinGecko</a>
 </figcaption>
</figure> 
<h2 class="wp-block-heading" id="solana-etfs-hit-roadblock">Solana ETFs hit roadblock</h2> 
<ul class="wp-block-list"> 
 <li>Grayscale also <a href="https://crypto.news/solana-etf-proposed-by-grayscale-to-the-sec-today/" target="_blank">filed</a> with the SEC, seeking to launch a Solana ETF. The firm aims to convert its Grayscale Solana Trust, launched in 2021, to an ETF. But the filings <a href="https://crypto.news/solana-etfs-face-sec-rejection-roadblock/" target="_blank">reportedly</a> face delays until after Trump takes office. </li> 
</ul> 
<h2 class="wp-block-heading" id="tax-regulations">Tax regulations</h2> 
<ul class="wp-block-list"> 
 <li>South Korea <a href="https://crypto.news/south-korea-to-postpone-crypto-tax-bill-to-2027/" target="_blank">agreed</a> to postpone a proposal to enact a 20% tax policy on crypto investments. As a result of the decision, the proposal will take effect in 2027.&nbsp;</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Reports <a href="https://crypto.news/france-proposing-tax-on-unrealized-bitcoin-gains/" target="_blank">confirmed</a> that French lawmakers are mulling including tax on unrealized crypto gains. Meanwhile, Indian authorities are <a href="https://crypto.news/binance-tops-list-of-17-crypto-entities-probed-for-tax-evasion-in-india/" target="_blank">investigating</a> Binance and 16 other entities for possibly evading tax payments.</li> 
 <li>The Czech Republic <a href="https://crypto.news/czech-republic-exempts-three-year-old-bitcoin-from-capital-tax-gains/" target="_blank">passed</a> a law to relax its capital gains tax policy on Bitcoin held by investors for more than three years.</li> 
</ul> 
<h2 class="wp-block-heading" id="cardano-and-wallstreetbets-hacked-on-x">Cardano and WallStreetbets hacked on X</h2> 
<ul class="wp-block-list"> 
 <li>The X accounts of both <a rel="" href="https://crypto.news/wallstreetbets-hacked-meme-coins-2-2-million-stolen/">Wallstreetbets</a> and <a rel="" href="https://crypto.news/cardano-ceo-hackers-suffers-breach-x-social-media/">Cardano</a> were hacked. </li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Since Elon Musk’s acquisition of X (formerly Twitter), there has been growing concern about an increase in security breaches. High-profile incidents include the <a href="https://www.sec.gov/secgov-x-account" target="_blank" rel="nofollow">compromise</a> of the SEC’s official X account earlier this year.</li> 
</ul> 
<p> Read more: <a rel="" href="https://crypto.news/emerging-markets-ai-and-crypto-insights-from-ryze-labs-matthew-graham/"> Emerging markets, AI, and crypto: insights from Ryze Labs’ Matthew Graham </a> </p>

Bitcoin milestone, Trump nominates new SEC chair, Solana ETFs, Cardano | Weekly Recap

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