Trump focuses on Bitcoin price surge and regulatory clarity. Dalio warns of a looming debt crisis and shifts investments toward gold and Bitcoin over bonds. Goldman Sachs signals potential entry into the Bitcoin and Ether markets, contingent on regulatory changes. Raydium takes the lead in monthly DEX volumes, surpassing Uniswap, driven by Solana’s growth and an explosion in memecoin trading.
News
Donald Trump
Goldman Sachs
Ray Dalio
Because Bitcoin
December 11, 2024
News
Donald Trump
Goldman Sachs
Ray Dalio
Trump Focused on Bitcoin’s Price and Regulatory Clarity, Tasks Sacks with Shaping Crypto Framework
Axios reports that a senior transition source revealed Donald Trump will be highly focused on Bitcoin’s price, describing it as “another stock market” for him. The source added that Trump would be thrilled to see Bitcoin reach $150,000 early in his presidency. As part of his plan, Trump has tasked Peter Thiel’s ally, David Sacks, with creating a legal framework to provide the cryptocurrency industry with the regulatory clarity it has long sought.
Ray Dalio Warns of Debt Crisis, Prefers Gold and Bitcoin Over Bonds
Billionaire investor Ray Dalio, founder of Bridgewater Associates, stated that he would prefer to invest in “hard money” such as gold and bitcoin, while avoiding debt assets like bonds, amid rising global indebtedness. Speaking at a financial conference in Abu Dhabi, Dalio warned that the increasing debt levels in major economies like the U.S. and China are unsustainable, potentially leading to a debt crisis and a decline in the value of money. Dalio also emphasized the importance of focusing on long-term global forces, such as political and geopolitical tensions, disruptive technologies, and economic factors. He noted that gold and bitcoin are attractive as hedges against economic uncertainty and inflation.
Goldman Sachs CEO Signals Interest in Bitcoin and Ether If U.S. Regulations Evolve
Goldman Sachs CEO David Solomon stated that the firm would consider entering the bitcoin and ether markets if U.S. regulatory changes permit. During a Reuters Next conference, Solomon explained that the current regulatory framework limits their ability to engage in crypto, but they are closely monitoring potential shifts. He acknowledged the growing attention on these technologies, especially with the possibility of regulatory evolution under the new administration. While Goldman Sachs has expressed interest in crypto, Solomon reiterated that bitcoin remains a speculative asset. The firm has explored crypto products and seen increased interest from hedge fund clients.
Raydium Overtakes Uniswap in Monthly DEX Volumes, Dominates Solana Ecosystem
Raydium surpassed Uniswap in monthly DEX volumes for November 2024, with $124.6 billion compared to Uniswap’s $90.5 billion. Key drivers of its growth include dominance in Solana’s ecosystem, memecoin trading, and the launch of Raydium V3. Solana’s DEX volumes have also surpassed Ethereum’s, contributing to Raydium’s success. Memecoin trading alone accounted for 65% of its monthly volume in November, boosted by Pump.fun integration. Raydium’s user interface upgrades and Solana’s technical advantages have strengthened its position as a top DEX platform.
