Monday morning opens

Note from the Editor:

Thursday, Blockspace Media published an article related to the ongoing Swan and Tether litigation. Upon further review, the legal documents allege that Swan “[entered] into an unconditional secured guaranty with Ripple Labs Inc.” Blockspace attained UCC filings that list Ripple as a secured party and Swan as debtor, but these do not prove Ripple financed Swan.

After being made aware of an error, we corrected the headline and article and published a notice on Twitter.

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The Post-Election Pump

Two tweets. Over $330 billion added to the market.

That’s what happened Sunday for those who missed it. Trump reignited a sluggish digital asset market with just two posts on Truth Social.

Bitcoin surged nearly $10,000 in a day, climbing from $84,000 to $94,000—the fabled ‘God candle.’ Mentioned tokens ETH, SOL, ADA, and XRP all gained over 10% in the last 24 hours.

So, what happens next? As we’ve noted before, much of Trump’s crypto-friendly stance was likely ‘priced in’ leading up to the election. It’s been a bit disappointing since then.

Concerns over DOGE budget cuts–austerity measure by any other name–trade war speculation, and interest rate uncertainty have cast a shadow over the market. Bitcoiners were starting to ask the tired question: What have you done for me lately, Mr. President? Well, a few tweets changed that.

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Trader Nets $7 Million on Trump’s Crypto Reserve Tweets

A trader on blockchain-based platform Hyperliquid made $7 million after Trump’s tweet about a potential crypto reserve including XRP, SOL, and ADA—later clarifying ETH and BTC would be included - link

White House Invites Crypto Leaders to ‘Crypto Summit’

Crypto Czar David Sacks and Executive Director of the President’s Council of Advisers on Digital Assets Bo Hines will welcome select invitees this Friday - link

Tether Appoints New CFO Ahead of Promised Audit

The world’s largest stablecoin issuer has brought on Simon McWilliams, a financial audit veteran with 20 years of experience. “Simon’s expertise in financial audits makes him the perfect CFO to lead Tether into this new era of transparency,” said Tether CEO Paolo Ardoino - link

Coinbase Files FOIA Request on SEC Investigation Costs

Coinbase wants to know how much the SEC spent investigating the largest U.S. crypto exchange. “We think the American people deserve to know,” said Coinbase Chief Legal Officer Paul Grewal in an interview with CoinDesk - link

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