Dear Readers,
Ever since the cryptos are becoming the major talking points in the US Presidential elections, it was created many expectations around the world.
Donald Trump, the former US President and the Republic Party Candidate Donald Trump has taken advantage to change his mindset from his last Presidential term on cryptos and he openly supported the cryptos. He pointed out many times that he openly supports to the cryptos, collected donations through cryptos and also launched his own NFTs.
The highlight of all these is his participation and key note address in the BTC Conference 2024 in Nashville where his speech was historic. His statements on cryptos, his desire to create US the Crypto Capital, Build a BTC Stockpile, sack the current SEC Chairperson Gary Gensler were widely reached and made sure his crypto stand.
With this speech, Donald Trump has also gained some edges with Crypto enthusiasts.
On the other hand and to his opposition camp, the Democratic Party Candidate and the Current US President Joe Biden surprisingly stepped down from the Presidential Candidate and proposed Kamala Harris, his Deputy. Now Kamala Harris is the official Candidate for the US Presidential Elections from the Democratic Party. Known for their 'not to support so much' stand on cryptos there were various attempts by the crypto world to represent the expectations from the Crypto Industry.
In this aspect, a team of representatives are going to meet the White House Officials to represent their concerns and urge the policy changes on digital assets. While the industry executives have not been identified, they are expected to meet outgoing senior White House advisor Anita Dunn, National Economic Advisor Lael Brainard, and Deputy Chief of Staff Bruce Reed.
There was a virtual meeting organised by former US President Obama's administration officials and Blockchain Foundation's Executive Director, Cleve Mesidor.
But, this is not the first time.
They had a round table discussions in July last time too.
Amidst all these situations and developments, the global crypto market cap is down with 4.52% of and currently is valued at $2.2 Trillion.
BTC is currently trading at $61,884.70 with a decrease of -4.11% from yesterday.
ETH is trading below the psychological mark of $ 3000 mark and currently trading at $2979, a decrease of 5.86% from yesterday.
While we consider the ETFs of Both BTC and ETH shows steady inflow of funds from various AMCs.
As we see Grayscale ETF found major outflows of funds due to its fee was found significantly high in the market. Everyone was switched from Grayscale to other AMCs.
To adjust to this, Grayscale AMC newly launched Mini Bitcoin Trust (BTC) posted net inflows of $191.13 million on its second day of trading. The fund, which has the lower fee of 0.15% as against to its primary fund, which has 1.5%.
The unchanged interest range in the recent FOMC meeting and the geo-political tensions with Iran-Israel contributed and dragged the crypto market down as of now!
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