1/6 🧵NEW Weekly State of the Market Report:
Crypto markets saw major developments this week, highlighted by Donald Trump’s inauguration as the 47th President and his pro-crypto executive order. The SEC introduced "SEC Crypto 2.0" to develop a regulatory framework and repealed SAB 121, allowing banks to custody digital assets. @Circle strengthened its position in digital asset markets with the acquisition of @Hashnote_Labs and the launch of US Yield Coin ($USYC). @MicroStrategy expanded its Bitcoin holdings with a $1.1 billion purchase. Additionally, Trump’s launch of the $TRUMP memecoin briefly hit a $70 billion valuation, drawing mixed industry reactions. These events showcase the sector’s rapid evolution.

Explore more in the latest @coinmetrics' report. Link in replies.

Highlights:

- Donald Trump was sworn in as the 47th U.S. President, signing an executive order with pro-crypto initiatives aimed at making the U.S. the global crypto capital.

- The SEC launched "Crypto 2.0", a task force to establish clear crypto regulations, and repealed SAB 121, allowing banks to custody digital assets.

- Trump launched the $TRUMP memecoin, briefly reaching a $70 billion valuation before pulling back.

- Circle acquired Hashnote, launched US Yield Coin ($USYC), and announced plans for native $USDC support on the @CantonNetwork

- MicroStrategy added $1.1 billion in Bitcoin to its holdings, reaffirming its status as the top corporate BTC holder