ChainCatcher news, according to Bloomberg, recent investor enthusiasm for the cryptocurrency industry under the leadership of elected President Trump has sparked a wave of speculation, with a series of small cryptocurrencies outperforming Bitcoin, among which Dogecoin (DOGE) has risen by about 50% in the past five days.Additionally, ADA has increased by over 60% during this period, driven by discussions from Cardano founder Charles Hoskinson about plans to collaborate with Washington lawmakers on a podcast. Meanwhile, Polygon (POL), Cosmos (ATOM), Solana (SOL), and Algorand (ALGO) have all surpassed Bitcoin's approximately 7% increase over the past five days.BTC Markets Pty CEO Caroline Bowler stated, "A rising tide lifts all boats; Bitcoin's rapid increase has affected altcoins. The entire cryptocurrency industry is expected to be a net beneficiary of the Trump administration."

ChainCatcher news, according to Channel News Asia, Singapore's Deputy Prime Minister Lawrence Wong stated in an interview during the Bloomberg New Economy Forum that Singapore maintains an open attitude towards digital innovation and digital asset innovation, but "will fundamentally not be open to crypto speculation." Even in the face of criticism, a firm stance must be taken against crypto speculation and trading, especially concerning retail investors.In addition, Singapore had already released a consultation document on tightening cryptocurrency trading regulations and the use of cryptocurrencies by retail investors even before the FTX incident. (source link)

According to Chain Catcher news and Bloomberg, Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore, stated that there will be a crackdown on cryptocurrency speculation. Sopnendu Mohanty mentioned that many project advertisements at TOKEN2049 in Singapore completely omitted any mention of risk-related issues, and the Monetary Authority needs to make the market aware that this asset class is not suitable for retail investors. (Source link)