Bitcoin News: Senator Cynthia Lummis to Lead New Senate Banking Subcommittee on Digital Assets

In a significant development for the cryptocurrency industry, Senator Cynthia Lummis has been appointed as the Chair of the newly established Senate Banking Subcommittee on Digital Assets. Known for her strong advocacy of crypto-friendly regulations, Lummis has been a vocal critic of overly stringent regulatory measures and has championed the idea of a US Bitcoin Reserve. Her new role is expected to bolster her influence in shaping policies that could have far-reaching implications for the future of digital assets in the United States.

Cynthia Lummis to Chair New Senate Banking Subcommittee on Digital Assets

Senator Cynthia Lummis has been appointed as the Chair of the new Senate Banking Subcommittee on Digital Assets. Lummis has been a long-time advocate for crypto-friendly regulations and has been a prominent figure in the legislative pro-crypto movement. She has consistently criticized harsh regulations and has pushed for the establishment of a US Bitcoin Reserve. Her new role as Chair of the Subcommittee will increase her influence in shaping the future of digital asset regulation in the United States. However, achieving these ambitious goals will require continued political support, including from former President Trump.

Presidents to Discuss Crypto Adoption: Trump and El Salvador's Nayib Bukele to Hold Call

President Trump is scheduled to hold a call with El Salvador’s pro-Bitcoin President Nayib Bukele today at around 8:30 PM GMT. This conversation follows their last discussion on November 7, shortly after Trump was announced as the winner in the US Presidential race. The topic of discussion is expected to revolve around the adoption of cryptocurrencies. Nayib Bukele, a strong advocate for Bitcoin, recently declared that 2025 will be a transformative year for Bitcoin. Former Binance CEO Changpeng Zhao also commented on the increasing likelihood of country leaders discussing crypto adoption in the NEAR future.

Bitcoin Liquidity Blocks Tell A Story: Here’s Why $96,000-$111,000 Is Most Important

Bitcoin's price action remains above the $100,000 level, despite a 2.5% decline in the past 24 hours. This decline led to $65.47 million in liquidations, predominantly long positions. Crypto analyst Kevin (Kev_Capital_TA) identifies the $96,000 to $111,000 range as a critical zone on Bitcoin’s liquidation heatmap, suggesting it could dictate the market's next direction after prolonged trading within this range.

Bitcoin Won’t Topple The US Dollar, Goldman Sachs CEO Says

Goldman Sachs CEO David Solomon has shared his thoughts on the role that Bitcoin plays in the global financial system. At a recent event, Solomon denied that Bitcoin or other cryptocurrencies might threaten the US dollar’s dominance. His remarks demonstrate how warily the conventional financial industry is reacting to the rising acceptance of digital assets. Solomon claimed Bitcoin’s high fluctuations make it unreliable as a means of exchange or a SAFE place to keep value. He acknowledged that cryptocurrency is well-known for being speculative in nature, but he pointed out that it can’t compete with traditional money like the dollar because it is too unstable. 'The dollar’s dominance is a result of trust and stability, which Bitcoin does not presently offer,' Solomon explained.

Donald Trump Signs Executive Order for US Digital Asset Stockpile

US President Donald Trump has signed an executive order to establish a digital asset stockpile, according to a Fox report. The order aligns with Trump's campaign promises to prioritize the cryptocurrency industry. During his campaign, Trump spoke highly of cryptocurrency and even addressed the 2024 Bitcoin Conference. Since his election in November 2024, he has engaged with multiple crypto industry experts. Additionally, lawmakers and state officials have introduced bills to create strategic state Bitcoin reserves, signaling a proactive approach to integrating digital assets into national economic strategies.