2025.01.21 Daily Crypto News Update

according to HTX market data, Trump announced in his inauguration speech that he would establish the Department of Government Efficiency. In response, DOGE surged over 5%, now trading at $0.38.

According to market sources, a document from the White House indicates that cryptocurrency is not listed as an immediate priority.

Kamala Harris was officially sworn in as Vice President of the United States.

the U.S. Securities and Exchange Commission (SEC) issued an announcement stating, “Today is Chairman Gensler’s last day at the SEC.”
Chairman Gensler joined the commission in 2021, bringing with him a rich career in public service. He brought valuable experience and a deep understanding of the financial markets to the chairmanship, during which time we have worked together to advance the commission’s mission—to protect investors, maintain a fair, orderly, and efficient market.
Chairman Gensler has always been committed to bipartisanship and respectful exchange of views in the United States, which has helped us better serve the American public. For this, we are deeply grateful.
We have implemented rules to promote market integrity and corporate governance, streamlined disclosures for open-end funds, shortened settlement times, and enacted necessary reforms for insider trading plans, among many other policy changes. Together, we have helped investors recover billions of dollars in losses due to securities law violations and helped the public understand the risks and rewards of investing their savings. These accomplishments solidify Chairman Gensler’s steadfast commitment to public service and American investors, establishing his historical legacy.
We also want to thank Chairman Gensler’s hardworking team, who have taken on significant tasks and approached each one with diligence and creativity. Thank you for your professionalism and dedication to public service.”

the probability of Trump establishing a strategic Bitcoin reserve within 100 days of taking office on Polymarket has risen to 54%.

according to Semafor, one of the first executive orders that Trump plans to sign today will be aimed at establishing a Government Efficiency Department.

Aave founder Stani Kulechov posted on social media, stating, “I have read the Ethereum Foundation Annual Budget Report, and the following are the measures needed to make the Ethereum Foundation (EF) sustainable:
•Immediately reduce the burn rate from $130 million to $30 million;
•Reduce the number of employees to 80 people;
•Carefully review who can stay. Remove senior positions, advisors, any part-time roles, interns, freeloaders, roaches, and parasites;
•Prohibit advisors or any conflicts of interest;
•Ensure 80% of employees are technical personnel;
•All technical teams should be split into small 5-person teams, each focusing on a specific area and expertise;
•The leadership team should be a 5-person committee, selected based on performance, with one as the chair responsible for VB;
•Part of the non-technical team should focus on financial management (handled internally);
•Diversify the treasury investment in various long-term sustainable assets (LRSTs), as well as fundamentally sound and profitable DeFi and non-DeFi projects building on Ethereum;
•Diversify staking rewards into stablecoins and allocate funds into DeFi;
•Borrow Aave’s asset management finances and conduct timely sales when ETH outperforms other assets;
•Create a sustainable revenue model from transaction or staking fees to fund a reasonable EF budget.
Currently, the EF is facing expenditure and financial issues. Let’s address this matter.”

according to Cointelegraph monitoring, possibly due to the continued hype of TRUMP coin, the Solana network experienced congestion this afternoon, with no transactions reported for over 30 minutes at its peak, but has now returned to normal.

according to Polymarket data, the probability on the platform that “Trump will create a Bitcoin reserve within 100 days of taking office” has surged to 58%, compared to yesterday’s probability of only 43%.
Furthermore, the market expects a 42% probability that Trump’s number of executive orders signed on the first day will exceed 40; Kalshi’s implied market expectation is 40.4 executive orders on Trump’s first day in office. Among them, immigration, tariffs, diplomacy, and energy are expected to be the intensive focus areas of Trump’s policies on his inauguration day.
Additionally, the market broadly anticipates a significant increase in Trump’s presidential executive power in his second term. Kalshi indicates that the market expects a 77% probability of Trump declaring a national emergency within the first hundred days of his new administration.

former Coinbase CTO Balaji wrote that many startups in the future may explore raising funds by issuing tokens as explicit cryptographic equity. From a technical perspective, representing equity on the blockchain has clear advantages, as investors can hold it in their wallets, query pricing via APIs, and track it on a blockchain explorer.
From a financial perspective, the global crypto investor market has obvious advantages compared to any local market in a city. However, this does not mean that short-term behavior can be pursued. Founders can (and should) implement lock-up provisions, drag-along rights, tag-along rights, and other mechanisms. These agreements help align the long-term interests of investors and founders.
Perhaps we are finally entering the long-overdue era of cryptographic equity. This is also one of the downsides of regulation through enforcement. What the SEC has done is merely to attack the good guys rather than establish clear rules. Perhaps this situation is beyond their capabilities, and actual regulation may fall on the shoulders of cryptocurrency exchanges.