Daily Crypto Signals: Markets Surge as Trump Administration Signals Major Policy Shifts

Major players from BlackRock to Ripple are positioning themselves for what appears to be a new era in digital asset regulation and adoption.

BlackRock BUIDL Expands Multi-Chain Presence

BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) announced a significant expansion beyond Ethereum, adding support for Aptos, Arbitrum, Avalanche, Optimism, and Polygon blockchains. The move, announced on November 13, marks a major step in institutional adoption of multi-chain architecture. According to Securitize, which partnered with BlackRock on the tokenization, BUIDL became the world’s largest tokenized fund by AUM in less than 40 days.

Trump Administration Creates DOGE, Appoints Tech Leaders

In a move that sent ripples through both traditional and crypto markets, President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead the newly created Department of Government Efficiency (DOGE). The agency aims to tackle the government’s $6.5 trillion annual spending and reduce regulatory burdens. The announcement has had an immediate impact on crypto markets, with Dogecoin surging approximately 150% since election day.

Market Response and Industry Consolidation

The cryptocurrency market has responded positively to the political shift, with Bitcoin reaching a new all-time high of $93,233 and Ethereum trading around $3,200. Ethereum has shown particular strength, rising 23% in the past week. Consensys CEO Joe Lubin suggested that Ethereum stands to benefit most from the new administration, citing previous regulatory pressures that may ease under Trump’s leadership.

Regulatory Landscape in Flux

With Trump’s victory and a Republican Senate majority, cryptocurrency firms are pushing for significant changes in regulatory approach. Ripple’s chief legal officer, Stuart Alderoty, expressed hope for a “more rational approach” to crypto regulation, particularly at the SEC. This sentiment was echoed by Coinbase’s chief legal officer Paul Grewal, who called for an end to crypto litigation.

Industry Consolidation Accelerates

The sector is seeing increased consolidation as major players seek to strengthen their positions. Arca and BlockTower Capital announced a merger to create a unified cryptocurrency investment platform, while Coinbase acquired Utopia Labs to enhance its on-chain payments infrastructure. These moves reflect a broader trend of companies seeking scale and additional capabilities in an increasingly competitive market.

Law Enforcement Actions Continue

Despite the optimistic market outlook, the sector still faces scrutiny from law enforcement. In a notable development, the FBI raided the home of Polymarket CEO Shayne Coplan, seizing electronics in what a company spokesperson called “obvious political retribution” for the platform’s election prediction markets.

International Developments

On the international front, Fireblocks has partnered with South Korea’s NongHyup Bank to pilot a blockchain-based tax refund system, demonstrating continued institutional interest in blockchain technology applications beyond cryptocurrency trading.

Looking Ahead

As the market processes these developments, attention is focusing on potential leadership changes at key regulatory agencies, particularly the SEC. While current Chair Gary Gensler’s term extends to 2026, industry speculation centers on possible replacements, with crypto-friendly Commissioner Hester Peirce mentioned as a potential candidate.