The crypto markets keep roaring. The total market capitalization of all cryptocurrencies notched a new all-time high of almost $4.15 trillion early Monday morning, according to data from CoinGecko. That beats the last record set in late July. The total value of the crypto market has since dipped but is still up almost 0.6% over the past 24 hours.
The surge in the digital assets market comes amid two crypto-friendly executive orders from President Donald Trump.
On Thursday, the 47th president instructed federal regulators to reevaluate their guidance on the allowance of alternative assets like crypto or private equity into employer-sponsored retirement plans.
The measure essentially reinstated a similar order Trump had issued in 2020 during his first term that Preisdent Joe Biden rolled back when he assumed office.
The crypto industry has long decried banks’ shuttering of their accounts, and some have alleged that there was a centralized conspiracy, known as Operation Chokepoint 2.0, to deny crypto businesses access to traditional financial institutions. Still, there hasn’t been a smoking gun, or discrete guidance from regulators that instructed banks to stop working with crypto firms.
Regardless, industry advocates cheered on the president’s order on debanking.
