🔔 MARKET MOVING NEWS! (21/03/25)
1️⃣ Eric Trump Joins Metaplanet’s Strategic Board Of Advisers ‼️
Japanese investment firm Metaplanet Inc. has reportedly appointed US President Donald Trump’s son Eric F. Trump to its newly established strategic board of advisers for his “business expertise and passion for Bitcoin.”
The official statement reads,
As a globally recognised business leader and entrepreneur, Eric Trump brings a wealth of experience in real estate, finance, brand development, and strategic business growth and has become a leading voice and advocate of digital asset adoption worldwide [...] His business acumen, love of the Bitcoin community and global hospitality perspective will be invaluable in accelerating Metaplanet’s vision of becoming one of the world’s leading Bitcoin Treasury Companies.
2️⃣ Senate Hearing For Crypto-Friendly SEC Chair Nominee Paul Atkins Scheduled For March 27 🗓
Securities and Exchange Commission chair nominee Paul Atkins is reportedly scheduled to undergo a U.S. Senate confirmation hearing on March 27th. At the same March 27 hearing, the Senate panel is also weighing the nomination of Jonathan Gould to take over the Office of the Comptroller of the Currency and Luke Pettit's nomination to be the assistant secretary for the Treasury. Atkins was nominated by Trump to succeed former SEC Chair Gary Gensler.
3️⃣ SEC Says Proof-Of-Work Mining Does Not Implicate US Securities Laws 🛡
In a March 20 statement, the U.S. Securities and Exchange Commission’s division of corporation finance clarified its stance on specific proof-of-work mining activities. It argued that such activities do not constitute “the offer and sale of securities” as outlined in the Securities Act of 1933, so long as they meet certain criteria. Specifically, the division addressed the “mining of crypto assets that are intrinsically linked to the programmatic functioning of a public, permissionless network.” The statement applies to solo miners and mining pools participating in such networks.
It stated,
A miner’s Self (or Solo) Mining is not undertaken with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others. Rather, a miner contributes its own computational resources, which secure the network and enable the miner to earn Rewards issued by the network in accordance with its software protocol.
4️⃣ Canary Capital Seeks SEC Approval for ETF Holding PENGU and Pudgy Penguins NFTs 👀
Asset manager Canary Capital has reportedly filed an S-1 form seeking approval from the U.S. Securities and Exchange Commission to list its Canary PENGU ETF — an exchange traded fund that will hold both the PENGU token and NFTs from the Pudgy Penguins Ethereum NFT collection. Pudgy Penguins CEO Luca Netz told Decrypt that the project was "excited to be a part of crypto history with the first NFT and coin filing."
5️⃣ Pump.Fun Launches Own DEX, Drops Raydium ⚡️
Memecoin launchpad Pump.fun has announced the launch of PumpSwap – its native decentralised exchange which is set to rival the likes of Raydium. Pumpfun stated the launch is designed to improve the token migration experience as well as create the possibility for the launchpad to share project revenue with coin creators within the coming weeks. According to Pump.fun, PumpSwap “functions similarly to Raydium V4 & Uniswap V2” and is designed “to create the most frictionless environment for trading coins.”
6️⃣ Donald Trump Vows to Make America the 'Undisputed Bitcoin Superpower' 💸
During video remarks delivered to the Digital Asset Summit conference in New York on Thursday, US President Donald Trump reiterated claims to make America the "undisputed Bitcoin superpower and crypto capital of the world." Notably, this marks the first time ever that a sitting U.S. president would address a crypto industry conference.
Trump stated,