wNews: All Eyes on Biden, Bitcoin, and the Future of Index Funds

Key Takeaways

  • Biden finally moved into the White House, but what does this mean for Bitcoin and the crypto industry?
  • Both Bitcoin and Ethereum took steep dives this week, dropping through key support levels.
  • The future of index funds paints a bullish picture for the unique ways blockchain technology can improve finance’s favorite funds.

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This week’s wNews column dives into the nitty-gritty of what a Biden administration means for Bitcoin.

So far, many of his appointees and cabinet members appear to be far more tech-savvy than their predecessors. Some even boast experience working directly with cryptocurrencies.

Still, renewed attention, especially amid an eye-watering bull run, may not be as positive as some hope.

Markets took another steep tumble this week, as Bitcoin bottomed out just below the key $30,000 support. Not all altcoins followed the king crypto, however. Some even appreciated during the bloodshed.

Finally, this weekend’s crypto to-do list is all things decentralized index funds.

All that and more, below. 

An Economy in Tatters

President Joe Biden was officially sworn in this week. But after a contentious Trump presidency and the crushing effects of the pandemic, the new leader of the free world has his work cut out for him.

Naturally, he won’t be alone in rebuilding the economy. 

Throughout the week, crypto enthusiasts have kept close tabs on the various appointees, secretaries, and chairpeople that Biden is putting in place. The most important roles include the Chairman of the Securities and Exchange Commission (SEC), the Chairman of the Commodity Futures Trading Commission (CFTC), and the Secretary of the Treasury. 

There is a candidate for each of the three positions, but they have yet to be voted in officially. One can nonetheless glean much from each nominee’s relationship with cryptocurrencies. 

The current nominee for the Secretary of…

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