Trump’s Crypto Move Drives Market to $4 Trillion as Major Banks Embrace Bitcoin, Ether, XRP, Solana, SHIB, Cardano

Key Points

1. Bitcoin (BTC) traded near $115,512, close to its all-time high, while Ethereum (ETH) hovered around $3,619, and altcoins like XRP and Solana showed mixed momentum.

2. Donald Trump signed the Genius Act, the first U.S. federal law regulating the stablecoin market, which he hailed as a validation for the crypto community.

3. Trump's administration established a Strategic Crypto Reserve and appointed a 'Crypto Czar,' though reports of his family holding $2 billion in Bitcoin raised conflict-of-interest concerns.

4. Major U.S. banks, including JPMorgan, Citibank, Bank of America, and Morgan Stanley, are exploring crypto-backed loans and stablecoin services, marking a shift from past skepticism.

5. Pending legislation in Congress could shift crypto oversight from the SEC to smaller agencies, a move supported by the crypto industry but criticized by regulators.