This week’s crypto developments have been historic, with major changes in the SEC’s approach to crypto, an executive order on digital assets, and heated debate over Ethereum’s future. Meanwhile, Silk Road founder Ross Ulbricht has finally stepped free.
CoinDesk’s coverage this week took in a memecoin juggernaut, major changes in the SEC’s approach to crypto, an executive order on digital assets, and heated debate over Ethereum’s future. Meanwhile, Silk Road founder Ross Ulbricht finally stepped free, as Trump followed through on a big promise to the crypto community.
Executive Order on Digital Assets
The White House issued an executive order on digital assets, calling for a friendly approach to crypto across the administration and the creation of a “digital asset stockpile” (which may, or may not be, a Bitcoin Strategic Reserve). This move was seen as a significant development in the crypto space.
SEC Regulatory Changes
The SEC withdrew a controversial crypto accounting rule, started a crypto taskforce headed by Hester Peirce (aka “Crypto Mom”), and named crypto-friendly Commissioner Mark Uyeda as acting chair. These changes suggest a shift towards a more favorable regulatory environment for crypto.
Memecoins: A Wild Ride
CoinDesk’s Shaurya Malwa reported that 60 Solana Whales made off with at least $10 million each (many others gained a lot less). The paper wealth generated by these surprise tokens was staggering, even absurd. Despite the controversy surrounding memecoins, they encouraged filings for memecoin ETFs.
Ross Ulbricht’s Release
After serving ten years in prison, Ross Ulbricht, who created Silk Road about 12 years ago, educating thousands on bitcoin for the first time, went free. His release was a key promise of the Trump team on crypto.
Ethereum’s Future
The Ethereum community hotly debated its future (particularly that of the Ethereum Foundation). Amidst all the developments, it was hard to remember a week when more stuff of importance happened in crypto. Stay tuned for more big stuff happening next week.
- coindesk.com | Best of the Week: It’s All Happening!
