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Crypto Rally Fueled by Policy Support: Ethereum Presents a Tactical Trade

Trump is delivering on his crypto promises.

Author

Markus Thielen
January 23, 2025

👇1-13) Trump has established the Presidential Working Group on Digital Asset Markets, a dedicated initiative to address and oversee the evolving landscape of digital assets. As anticipated, SAB 121 appears to have also been repealed.

👇2-13) This accounting bulletin previously required companies holding crypto assets (custodial platforms, exchanges, or fintech firms) on behalf of customers to recognize a liability on their balance sheets, reflecting their obligation to safeguard those assets—particularly against cybersecurity risks. Its implementation caused banks to hesitate in offering crypto-related services due to the added regulatory burden.

👇3-13) However, with the repeal of this guidance, banks may now be more willing to serve crypto customers. This could open the door to various services, including staking offerings, cross-margin borrowing using crypto assets as collateral, and broader crypto-related financial products.

Ethereum - triangle break?

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