Summary:

Bitcoin has experienced a rebound to $94,000 after reports emerged that Donald Trump is preparing to sign pro-crypto executive orders on his first day in office. These orders are expected to address key challenges faced by the crypto industry, including banking restrictions and the controversial SEC Staff Accounting Bulletin 121 (SAB 121). SAB 121, which requires companies to record cryptocurrencies as liabilities, has been subject to criticism and President Joe Biden vetoed attempts to repeal it. The news of potential pro-crypto policies under the Trump administration has led to a recovery in the crypto market, with Bitcoin and Ethereum seeing price increases. The executive orders may also improve banking access for crypto businesses and aim to counter "de-banking" practices. Additionally, Trump's inauguration will see the appointment of a Crypto Czar and a crypto-friendly leader for the SEC.



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