Crypto News: Trump's Take and ETF Delays

Trump's Crypto Pardon and the ETF Revolution: A Perfect Storm?

Okay, folks, buckle up because the crypto world just got a whole lot more interesting. We've got Donald Trump, who apparently has "no idea" who Changpeng Zhao (CZ), the Binance co-founder, is, despite pardoning him. And then, almost simultaneously, we see the potential for a flood of new crypto ETFs hitting the market thanks to some clever maneuvering around SEC delays. It's a wild ride, and I think it points to something HUGE.

The Winds of Change are Blowing

Let's start with the Trump pardon. "I don't know who he is," he said about CZ. Now, whether that's true or just political posturing, the impact is undeniable. CZ, who pleaded guilty to enabling money laundering, served time, and stepped down as Binance CEO, now has a clean slate, at least legally. White House Press Secretary Karoline Leavitt even spun the pardon as a correction of the Biden administration's "war on cryptocurrency." Is this a signal of a broader shift in how the US government views crypto? It certainly feels that way. 'I don't know who he is,' says Trump after pardoning crypto tycoon

But here's where it gets really interesting. While all this is unfolding, the SEC is dragging its feet on approving spot crypto ETFs. But the market always finds a way. Issuers are using a "no delaying amendment" loophole to potentially launch ETFs for Solana, XRP, and more. Remember October? It was supposed to be the month for crypto ETFs, but the government shutdown threw a wrench in the works. But now, November is shaping up to be a game-changer. Canary Capital, Bitwise, and Grayscale have already successfully launched ETFs using this approach.

This is where it hit me: the convergence of these two events – the pardon and the ETF workaround – isn't just a coincidence. It's a sign that the dam is about to break. The old guard, the regulators, the politicians who don't "know" crypto, are being outmaneuvered by innovation and market demand. It's like when Gutenberg invented the printing press, right? The established order tried to suppress it, but the power of information and accessibility was too strong.

Imagine a world where crypto ETFs are as commonplace as traditional stock ETFs. Imagine the influx of capital, the increased legitimacy, and the accessibility for everyday investors. That's the future we're glimpsing. Fidelity has already submitted an updated S-1 for its spot Solana ETF, and Canary Capital is doing the same for its XRP ETF. If the SEC doesn't step in, we could see the first XRP fund as early as November 13th! Crypto ETFs: November Could Be the New October for U.S. After Shutdown Delays SEC Decisions

Of course, there's a catch. James Seyffart, an ETF analyst at Bloomberg Intelligence, rightly points out that some funds haven't received any feedback from the SEC. So, not all will launch without the government reopening. But the momentum is there, and it's powerful.

And here's the thing that gets me most excited: the community is feeling it. I've been reading comments on Reddit, and the sense of anticipation is palpable. People are ready for this. They're tired of the gatekeepers and the delays. They want access to the future of finance, and they're not going to wait.

But let's not get too carried away. With great power comes great responsibility. As crypto becomes more mainstream, we need to ensure that regulation keeps pace with innovation, protecting investors without stifling growth. It's a delicate balance, but I believe we can strike it.

The Crypto Train is Leaving the Station!

This isn't just about ETFs or pardons. It's about a fundamental shift in power. It's about the democratization of finance. It's about a future where anyone, anywhere, can participate in the global economy. And frankly, after seeing the progress that has been made, I sat back in my chair, speechless. The future is arriving faster than we thought, and it's going to be an amazing ride.