Luc Jose A.

As the global economy attempts to stabilize after years of uncertainty, American public debt is drawing renewed attention. Indeed, with a level reaching 125% of GDP in 2024 and a growing budget deficit, this issue concerns international institutions, particularly the European Central Bank (ECB). Thus, recent statements from its Vice President, Luis de Guindos, emphasize the urgency of the situation and its potential repercussions on the eurozone.

Amid revolutionary announcements, technological evolutions, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a realm of limitless innovations and a battleground of regulatory and economic conflicts. Here is a summary of the most significant news from the past week surrounding Bitcoin, Ethereum, Binance, Solana, and Ripple.

The idea of placing Bitcoin at the heart of American strategic reserves could disrupt global financial paradigms. This is the bold proposal of Senator Cynthia Lummis, a staunch supporter of cryptocurrencies, who suggests transforming a portion of the United States' vast gold reserves into Bitcoin. Such a debate, far from being trivial, is unfolding in a context of astronomical debts and rapid inflation, placing digital innovation in competition with traditional systems.

In a rapidly changing multipolar world, the strategies of major powers shape economic and political balances. Analyst Boris Mezhuyev, during a debate in Moscow, revealed a potential axis of Donald Trump's future foreign policy: directly targeting the BRICS. This strategic repositioning could profoundly redefine global alliances and impact key sectors, including finance and cryptocurrencies.

In a climate of rising nervousness, European stock markets closed the week sharply down, following the trend initiated by Wall Street. The markets, facing increased uncertainties regarding monetary policies and divergent economic indicators, seem to struggle to regain positive momentum. This situation, exacerbated by the statements of several central bankers, raises questions about future economic trajectories in both Europe and the United States.

The race for crypto ETFs is taking a decisive turn. While the United States struggles to approve funds other than those related to Bitcoin and Ether, cautious optimism now surrounds Solana. According to Matthew Sigel, head of crypto research at VanEck, the chances of approval for a Solana ETF before the end of 2025 are "significant." This issue goes beyond the technical framework, as it illustrates a potential change in regulatory attitude, driven by recent political upheavals and increasing market dynamics.

For years, the crypto sector has accustomed us to rapid changes, but 2024 marks an unprecedented shift with the extraordinary rise of memecoins. Originally regarded as curiosities or digital jokes, these assets have now exploded onto the global financial scene, attracting a massive wave of investors. With a market capitalization that has surged by nearly 400%, memecoins are no longer mere cultural phenomena, but genuine economic forces in their own right.

In a constantly evolving crypto universe, the competition among top tier blockchains continues to intensify. Ethereum, the undisputed leader for years, is facing a rise of challengers more determined than ever. Among them, Cardano is identified as the most serious contender to dethrone Ethereum in a poll conducted by Altcoin Daily.

As the world redefines its economic and political alliances, Turkey inserts itself at the heart of global dynamics. In search of increased influence on the international stage, Ankara is now moving closer to the BRICS, this bloc of emerging nations that is establishing itself as a strategic counterbalance to traditional Western powers. The recent Kazan summit was marked by the announcement of granting Turkey the status of "partner." This decision, filled with hopes for Ankara, opens up perspectives for cooperation but raises questions about the geopolitical and economic implications of this rapprochement.

The crypto market is undergoing a critical phase, with fluctuations between significant declines and unexpected rises. While Bitcoin and Ethereum continue their retreat, some cryptocurrencies like Ripple stand out with spectacular performances, fueling debates and speculation about the future of the sector. This climate of uncertainty, exacerbated by external pressures and increased volatility, calls for caution among investors.

The crypto market has been on fire in recent days, with a spectacular 39% increase in XRP, now valued at $0.80. This dizzying rally is driven by speculation related to a potential shake-up at the head of the Securities and Exchange Commission (SEC). As rumors of its chairman, Gary Gensler's resignation surface, investors seem to anticipate a regulatory easing that could transform the crypto ecosystem.

Gary Gensler, the current chairman of the SEC, has just thrown a stone into the pond as he hints at a possible departure. This announcement resonates like an earthquake in the crypto world. Indeed, his term has been marked by a strict and controversial approach to regulating these assets, with increased oversight and the application of sanctions against certain players in the sector. The announcement of this possible departure comes in a tense political context, as Donald Trump, currently re-elected, has expressed his firm intention to remove Gensler from office upon his return to the White House.

Elon Musk, a visionary entrepreneur and often provocative figure, has just brought unexpected attention back to Dogecoin, the famous meme crypto. A simple post on X was enough to rekindle the enthusiasm of DOGE supporters, illustrating once again Musk's influence in the crypto ecosystem. This tweet, both ironic and strange, echoes years of fascination and speculation about the relationship between Musk and Dogecoin. While some view him as a proponent of crypto, Musk has clarified his intentions, stating that he does not endorse any cryptocurrency, except in a humorous context. Nevertheless, his latest remarks further highlight his impact.