News Roundup — Trump Launches Cryptocurrency With Price Rocketing

Major news stories this week;

1. Trump Launches Cryptocurrency With Price Rocketing‍
2. Coinbase Endorses Strategic Bitcoin Reserve in US‍
3. EU’s New ‘DORA’ Rules Come Into Effect: What Does It Mean For Crypto?
4. Dubai to Open World’s First ‘Crypto Tower’ by 2027
   
5. Malaysia Mulls Crypto Policy After Talks With UAE And Binance Founder CZ

Story Summaries;

1. Ahead of his inauguration, Donald Trump launched a meme coin called $Trump, which quickly soared to a market value of nearly $5.5 billion. The coin, coordinated by CIC Digital LLC (a Trump Organization affiliate), issued 200 million tokens, with 800 million more planned for release over the next three years. While marketed as a celebration of Trump’s leadership, critics argue he is exploiting the presidency for profit, especially since he owns 80% of the tokens. Concerns have arisen that, like other meme coins, its value could crash once the hype fades.
2. Coinbase CEO Brian Armstrong endorsed a U.S. strategic Bitcoin reserve, stressing its role in economic growth and innovation. He called for pro-crypto regulation, digital asset zones, and greater government efficiency. Armstrong argued that cryptocurrency is key to the future digital economy and global prosperity, as U.S. interest in crypto rises ahead of Trump’s second inauguration.
3. The EU's Digital Operational Resilience Act (DORA), effective January 17, extends the Markets in Crypto-Assets Regulation (MiCA) to require enhanced cybersecurity and risk management for crypto businesses. DORA mandates better oversight of third-party vendors and aims to boost market integrity and investor protection. MiCA-licensed firms must comply, with smaller providers facing potential challenges in meeting the new requirements.
4. Dubai is set to build the world’s first Crypto Tower, a 17-story hub for blockchain, DeFi, and Web3 companies, opening in 2027. The tower will feature 150,000 square feet of office space, an NFT gallery, gold bullion shop, and exotic car dealership. This project aims to solidify Dubai as a global leader in digital assets and blockchain innovation.
5. Malaysia is exploring cryptocurrency regulations after Prime Minister Anwar Ibrahim met with Abu Dhabi leaders and Binance founder Changpeng Zhao. Anwar stressed the need for crypto-friendly policies to modernize the financial system. The government will conduct detailed studies with key authorities to address regulatory concerns. This follows recent scrutiny by Malaysia’s Securities Commission, which shut down unregistered exchanges like Bybit.

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And that’s all for last week’s news! Wishing you a great week ahead!