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Weekly Recap | News

UTB Weekly News Roundup (JAN 20th – JAN 24th, 2025)

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Rickie Sanchez

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3 mins
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Weekly News Roundup

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Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.

Here’s what happened in crypto this week:

Donald Trump’s New “Official” $TRUMP Memecoin Grips Crypto Market

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Just one day before his inauguration as the 47th President of the United States, Donald Trump recently launched an “official” memecoin that quickly topped a $10 billion market cap after nearly an hour.

Despite concerns over its concentrated ownership and political associations, the launch has resulted in significant profits for early investors. This move also marks Trump’s continued interest in the crypto space, adding a new chapter to his business ventures.

Melania Trump Launches $MELANIA Memecoin

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Melania Trump has announced the launch of a new memecoin named $MELANIA on her social media platforms, which Donald Trump has also endorsed through retweets on both X and Truth Social.

Following the announcement, there has been a reported significant drop in the market value of the existing $TRUMP memecoin, with prices falling from approximately $75 to $49 within minutes.

Crypto Not An Urgent Priority According To White House Document

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President Donald Trump closed his inaugural speech without mentioning Bitcoin or crypto. Moreover, a document sent by Republicans outlining the White House’s new priorities also fails to mention digital assets and Bitcoin.

The US President said he intends to designate crypto as a national priority, establish a crypto advisory council, direct agencies to review digital asset policies, pause or halt litigation against crypto companies, and create a national Bitcoin stockpile.

Instead, Trump’s priorities focus on border security, energy independence, government reform, and cultural issues. These include bold measures such as suspending refugee resettlement, withdrawing from the Paris Climate Accord, and enacting sweeping reforms to the federal bureaucracy. 

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The United States government’s official website for the Department of Government Efficiency (DOGE) has gone live and prominently displays the Dogecoin logo.

The DOGE website features the Dogecoin logo alongside the statement, “The people voted for major reform.” Notably, the site’s HTML includes an ASCII representation of the Dogecoin logo and a link to the Department’s official Twitter/X account.

Acting SEC Chairman Mark Uyeda Announces Formation Of New Crypto Task Force

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Acting SEC Chair Mark Uyeda has taken a first step towards a clearer regulatory process for the crypto industry following the launch of a crypto task force.

According to a press release from the SEC, the new initiative is geared towards developing a comprehensive framework for digital assets. SEC Chair Uyeda aims to use this to address the agency’s previous “regulation by enforcement” approach.

Pro-crypto Commissioner Hester Peirce will lead the task force and work with commissioners Richard Gabbert and Taylor Asher to set the agency on a “sensible regulatory path.”

The unit will also collaborate with federal agencies such as the Commodity Futures Trading Commission (CFTC) —under the watch of new acting chairman Caroline Pham— and will function within the statutory frame of Congress.

President Donald Trump Grants Pardon To Silk Road Founder Ross Ulbricht

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United States President Donald Trump has pardoned Ross Ulbricht, the imprisoned founder of the dark-web black market Silk Road.

Trump said on Tuesday that he had called Ulbricht’s mother to inform her he had signed a “full and unconditional pardon” for her son, who was sentenced to life in prison without the possibility of parole in 2015 for his role in operating the illicit marketplace.

Ulbricht, 40, was convicted of seven counts related to his operation of Silk Road, which facilitated the sale of illegal drugs and other illicit goods using Bitcoin, including distributing narcotics and engaging in a criminal enterprise.

Final Thoughts

So that’s it for this week!

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Have a fantastic week ahead!

Rickie Sanchez

About the Author

Rickie is a seasoned blockchain and cryptocurrency enthusiast with extensive experience dating back to late 2017. His crypto journey has taken him across the globe, where he has worked with clients from diverse backgrounds. Notable collaborations include ghostwriting for a media startup, contributing to a blockchain blog based in Zurich, managing a weekly newsletter for a client in Japan, and serving as a token review writer for a crypto blog headquartered in the Netherlands. He will not rest until every individual is empowered with the knowledge and insights needed to thrive in the crypto landscape.