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SEC‘s ‘Demolition’ of Crypto Enforcement Met With Cheers as Well as Jeers

(Bloomberg) -- The US Securities and Exchange Commission has kicked off the new year with a makeover, wiping clean its slate of crypto enforcement actions and turning what was once a hostile landscape for digital assets into a potential haven.Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC Office Buildings See Resurgence as Inve

Why Bitcoin, Ethereum, and Dogecoin Crashed and Bounced Back Today

The crypto market went into a tailspin over the 24 hours before a sharp recovery midday Friday as investors begin to wonder how healthy the economy is and if the high valuations for risky assets are justified. Despite being sold as a hedge against inflation and the economy, crypto traded like a growth stock, and that's become a headwind in 2025. As of 2:00 p.m. ET, Bitcoin (CRYPTO: BTC) is flat over the previous 24 hours, but it earlier fell over 6% and broke below $80,000; Ethereum (CRYPTO: ETH) is off 4% but was down as much as 9.7% at midday; and Dogecoin (CRYPTO: DOGE) has fallen as much as 12.5% before recovering to a 3.9% loss.

Bitcoin Reserve Is Likely to Come First From States, Senator Lummis Says

(Bloomberg) -- Senator Cynthia Lummis, the sponsor of a bill calling for the US to set up a Bitcoin reserve, suggested that progress on the proposal is likely to take longer than many crypto advocates would like. Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC Office Buildings See Resurgence as Investors Pile Into BondsHong Kong