February 4, 2025 – The cryptocurrency market is experiencing a strong rally, with Bitcoin (BTC) nearing the $100,000 mark, currently trading at $99,476 after a 4.73% increase. Ethereum (ETH) has surged 10.24%, reaching $2,829.50, while Solana (SOL) and Cardano (ADA) are also seeing significant gains, rising 8.85% and 9.69%, respectively.
Trump’s Crypto Advisory Council Gains Attention
In a major political development, industry leaders are actively seeking positions on former U.S. President Donald Trump’s newly formed Crypto Advisory Council. The council is expected to shape the regulatory landscape, addressing key issues such as cryptocurrency classification and blockchain innovation. Notable figures vying for a spot include Ripple’s Brad Garlinghouse, Kraken’s Marco Santori, and Circle’s Jeremy Allaire.
Scaramucci Predicts Regulatory Clarity by 2026
SkyBridge Capital’s Anthony Scaramucci remains bullish on crypto’s future. He believes that institutional adoption and regulatory clarity will drive the market forward within the next three to five years, predicting that major political players will push for clear crypto regulations ahead of the 2026 elections.
Europe Stands Firm Against Bitcoin Reserves
While the U.S. is considering a national crypto reserve, European Central Bank (ECB) President Christine Lagarde has firmly rejected Bitcoin as a reserve asset. She stated that under her leadership, which lasts until 2027, Bitcoin will not be included in the ECB’s reserves.
Legal Developments: $400M Crypto Scam Conviction Upheld
In legal news, a federal appeals court in Manhattan has upheld the conviction of Mark Scott, a former Locke Lord attorney, for his role in a $400 million crypto fraud scheme. Scott was sentenced to 10 years in prison after being found guilty of money laundering and bank fraud in connection with the infamous OneCoin scam.
With Bitcoin nearing six figures and major regulatory moves on the horizon, 2025 is shaping up to be a defining year for the crypto industry.