🇮🇳 Reuters reports that India is revisiting its stance on cryptocurrencies, driven by changing attitudes toward virtual assets in other countries.

Back in 2022, Indian authorities planned to impose a 30% tax on profits from digital assets. In 2024, the local regulator blocked the websites of major crypto exchanges, including Binance, Kucoin, Huobi, Kraken, Gate, Bittrex, Bitstamp, MEXC, and Bitfinex.

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🩸 Monday kicked off with a major downturn: amid rumors of a new trade war allegedly initiated by Trump and expectations of a “bloody” day on the U.S. stock market, the total cryptocurrency market capitalization plummeted by 10% overnight, with some altcoins losing up to 30%.

Over the past 24 hours, a colossal number of liquidations—714 660 trader positions totaling $2.18 billion—has been recorded. The overall liquidation volume is comparable to what was seen during the FTX collapse and at the onset of the COVID pandemic.

Analysts believe the market will recover soon, attributing the sharp decline to the Asian market’s inability to quickly react to negative news during the holiday lull. Once liquidity and sentiment return to normal, a swift rebound is expected.

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🇺🇸 Donald Trump and "Crypto Tsar" David Sacks will hold a press conference tomorrow to discuss how the administration and Congress can ensure U.S. leadership in the digital asset ecosystem.

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🇲🇽 Mexican President says tariffs from the United States are delayed for a month after a discussion with President Trump.

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🇨🇳 The new 10% U.S. tariffs on imports from China have come into effect.

Chinese manufacturers have stated that they will accelerate the relocation of production to other countries to minimize the impact of trade barriers.

In response, China is imposing retaliatory tariffs of 10–15% on U.S. oil, agricultural equipment, coal, and LNG. Additionally, Chinese authorities have launched an antitrust investigation into Google.

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🇺🇸 Donald Trump has signed an executive order to establish a sovereign wealth fund, which is reportedly expected to be used for purchasing crypto.

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🔥 "Crypto Tsar" David Sacks stated that they want to create a "golden age of cryptocurrency."

He also added that "the U.S. is emerging from four years of arbitrary prosecution and persecution of crypto companies."

David Sacks declined to comment on the crypto reserve.

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⚡️ Feasibilty of Bitcoin reserve being studied: Crypto czar Sacks

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🇺🇸 David Sacks stated that, in addition to the strategic reserve, the Sovereign Fund might also include cryptocurrencies.

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