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- Crypto market hits new heights, nearing $4 trillion, with Bitcoin, Ether, and XRP leading the charge.
- US House passes three crypto bills, boosting confidence with new regulations for stablecoins and digital assets.
- Trump’s family holds major crypto interests, with $58M earnings in 2024, sparking concerns over potential conflicts.
The cryptocurrency market is approaching the mark of $4 trillion, as substantial returns in the key currencies such as Bitcoin, Ether, and XRP are pushing the capitalisation. This rally is after the House of Representatives in the US approved important crypto-related bills. The bill will control digital currency and enhance investor confidence.
The market cap stood at $3.8 trillion according to CoinMarketCap. TradingView estimated a more significant number, which is around $3.9 trillion. These two figures are higher than the earlier record of $3.73 trillion in December. CoinGecko has affirmed that the market was past $4 trillion in a historic moment in the industry.
Crypto Surge Continues
The price of bitcoin is above $120,000 and it is on an upward trend. Ether climbed 8% to $3,600, the price first seen since January. Ether rose 40% in the past two weeks. XRP experienced an incredible surge and rose by 20% to a year-to-date high of $3.64. This expansion indicates the high interest in digital assets among investors.
The crypto market currently comes close to the market cap of Nvidia which had recently surpassed the $4-trillion point. The influx is a wider movement toward more confidence within cryptocurrencies. The new laws in the US have contributed greatly to this positive swing.
Three crypto-related bills have passed the US House of Representatives on Thursday. The GENIUS Act is one of the bills that proposes the first regulations to stablecoins, digital currencies pegged to stable assets such as the US dollar. The bill was enacted on a bipartisan basis with an aim of protecting consumers without stifling innovation in the field of digital payments.
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Digital Asset Regulation
There is another bill that explains the regulatory environment of digital assets. It differentiates between commodities, which are governed by the Commodity Futures Trading Commission (CFTC), with securities, which are determined by the Securities and Exchange Commission (SEC). This bill has now been sent to the Senate to be reviewed.
The third bill was passed by close margins and aims to prevent the launch of a central bank digital currency (CBDC). The bill would not allow the US to issue government-secured digital cash. It’s now pending in the Senate.
The Trump family has extensive crypto holdings, including in World Liberty Financial. This has created conflict-of-interest concerns. Last Friday, financial disclosures showed that the previous president made $58 million in crypto ventures in 2024. This was mainly through the sale of WLFI tokens.
This revenue is ranked second after his hospitality revenue and is expected to increase in 2025. There is an expected gain of his meme coin and the token sale that will bring about an estimated $390 million. His interests in Bitcoin mining, tokenized assets, and digital ETFs have added more fuel to the concerns.
Also Read: Trump Secures Key Support for GENIUS Act to Make U.S. Crypto Powerhouse
