FameEX Morning Crypto News Recap | February 6, 2025

US Banking Sector May Strengthen Cryptocurrency Collaboration with Backing from Trump Administration

The U.S. banking sector is set to increase cryptocurrency collaboration with backing from the Trump administration. The FDIC plans to revise guidelines, enabling banks to engage in crypto activities without prior approval. Major banks like JPMorgan and Goldman Sachs are testing blockchain and crypto services, with the FDIC considering relaxed regulations for custody services and tokenized deposits.

Notable Changes in Bitcoin Trading Performance Following Trump’s Inauguration

A February 5 study by 10xresearch found that Bitcoin prices remained stable over the past month. Since Trump’s inauguration on January 20, significant buying occurred during European trading hours, while consistent selling was observed during U.S. trading hours.

MicroStrategy Rebrands as Strategy, Becomes World's Largest Bitcoin Finance Firm

MicroStrategy (NASDAQ: $MSTR) has rebranded to Strategy™, becoming the world’s first and largest Bitcoin financial company. It remains the largest independent listed business intelligence firm and is part of the Nasdaq 100 Index.

The US-China Tariff War Continues to Dominate the Crypto Market's Focus

QCP Capital noted that the recent meeting with cryptocurrency czar David Sacks disappointed the market. The ongoing US-China trade tensions continue to pose risks, especially amid global uncertainty. While the delay of tariffs on Mexico and Canada offered some relief, the US-China tariff conflict remains a key concern for the cryptocurrency market.

Crypto Asset Market Value Continues to Rise in 2024

Citibank's latest report highlights that as the crypto market matures, its correlation with stocks will lessen, with institutional involvement reducing Bitcoin's volatility in the long run. The report also suggests monitoring Bitcoin’s relationship with gold, as this could signal its growing value storage potential.

BlackRock Poised to Launch Bitcoin ETF in Europe

Bloomberg analyst James Seyffart suggested BlackRock could launch a Bitcoin ETF in Europe, potentially following the same strategy used in Canada, according to his colleague Emily Nicolle.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.