🚨 Breaking Web3 News: The Latest Game-Changing Updates You Need to Know!

Author

CoinGape Media
January 09, 2025

News

Gary Gensler, the outgoing Chair of the U.S. Securities and Exchange Commission (SEC), reaffirmed his stance on the need for stricter regulation of the cryptocurrency industry. Speaking during an interview with Bloomberg TV on Wednesday, Gensler described the crypto market as “rife with bad actors” and called for enhanced oversight to protect investors.

As President-elect Donald Trump prepares to take office on January 20, the cryptocurrency industry is closely monitoring his decision on appointing the next Commodity Futures Trading Commission (CFTC) chair.

With outgoing CFTC Chair Rostin Behnam set to step down on inauguration day, the new appointee is expected to play a crucial role in shaping the regulatory framework for the growing digital asset market in the United States.

The crypto industry has already started lobbying behind President-elect Donald Trump to approve a US Bitcoin reserve as soon as he takes office on January 20. As per the previous reports, Trump is willing to issue several executive orders starting from the first day, and the crypto industry leaders are pursuing key crypto orders as well.

👉 Elon Musk adopts “Kekius Maximus” on X, making people wonder : Who is Kekius Maximus, is it Pepe ?

Elon Musk, the visionary entrepreneur and owner of X (formerly Twitter), has once again showcased his unparalleled influence on cryptocurrency markets. In a recent update, he changed his profile name to “Kekius Maximus” and his avatar to Pepe the Frog, the iconic meme often linked to internet culture, depicted as a Roman soldier. This playful gesture caused a staggering 800% surge in the value of a meme-based cryptocurrency also named Kekius Maximus within just 24 hours.

Markets

The crypto market today remains in bearish territory as Bitcoin slipped below $95K, with major altcoins following suit and several tokens trading in the red. THORChain (RUNE) and Injective (INJ) were among the worst performers, both dropping 11% from their daily highs. The global crypto market cap declined by around 2%, settling at $3.33 trillion, though trading volume saw a slight 4% increase over the past 24 hours, reaching $168 billion. Let’s dive into the latest prices of the top cryptocurrencies by market cap.

Ethereum (ETH) has faced much criticism from the crypto investor community due to its lackluster performance. Moreover, the Foundation has also received harsh comments from investors due to their consistent sale of ETH. Regardless, this price analysis takes a look at how much the altcoin will be worth in 2025.

Bitcoin has had a dull start of the year, with its price moving further from its all-time high of $108,000. One potential catalyst for the coin will be Donald Trump’s approval of strategic Bitcoin reserves, a move that will benefit other cryptocurrencies. Here are some of the best BTC rivals to buy ahead of this approval.

The year 2024 was transformative for the Web3 ecosystem, witnessing rapid advancements, significant market shifts, and evolving regulatory landscapes. This analysis highlights the key crypto trends that have defined the year, supported by relevant data and insights, providing early to medium-scale crypto investors with a comprehensive understanding of what has transpired in the Web3 space.