FameEX Morning Crypto News Recap | January 24, 2025

US President Signs Executive Order on Cryptocurrency, Creates Digital Asset Market Task Force

The US President signed an executive order on cryptocurrency, creating the Presidential Digital Asset Market Working Group to enhance US leadership in digital finance. The group will develop a federal regulatory framework, covering stablecoin regulation and evaluating the feasibility of a national digital asset strategic reserve.

Rumors of US Strategic Bitcoin Reserves Fuel BTC Volatility

On January 23, Bitcoin (BTC) saw fluctuations as rumors circulated about the U.S. potentially announcing a strategic Bitcoin reserve. Wyoming Senator Cynthia Lummis, anticipated to lead the House Financial Services Subcommittee on Digital Assets, hinted at "something big" in a tweet but provided no further details.

Trump Calls for Global Interest Rate Cuts as Attention Turns to Fed Meeting Outlook

At the World Economic Forum in Davos, Trump called for immediate interest rate cuts, citing falling oil prices, and urged global rate reductions. As the Federal Reserve’s first policy meeting since Trump’s inauguration approaches on January 28-29, it is expected that the Fed will maintain current interest rates.

JPMorgan CEO Warns Crypto Firms Could Face Millions in Fines

JPMorgan CEO Jamie Dimon stated in a podcast that crypto companies could face millions in fines if issues arise, despite JPMorgan providing banking services to some. He criticized banks for not informing customers when services are suspended and called for clearer regulations to define banks' responsibilities and liabilities, urging the federal government to intervene.

Crypto Czar David Sacks Talks Digital Asset Reserve Programs and Regulatory Frameworks

Crypto czar David Sacks stated that a decision on the digital asset reserve plan is still pending, with more research required. The Digital Assets Task Force will work on creating a regulatory framework, defining asset categories, promoting U.S. dollar dominance through stablecoins, and evaluating national digital asset reserves.

Analyst Forecasts Bitcoin Could Surpass 70 Historical Highs This Year

Analyst Van Straten predicts that Bitcoin will exceed 70 historical highs in 2025, drawing parallels to its performance in 2017. 

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