Market News

By Tom Westbrook and Elizabeth Howcroft

Summary

• Bitcoin steadies after initial Trump-driven surge
• $TRUMP token faces scrutiny over potential conflicts of interest
• Trump says his children will manage his assets
• Executive order protects banking services for crypto companies
• Bans the development of a U.S. central bank digital currency

NEW YORK/SINGAPORE/PARIS, Jan 24 (Reuters) - Crypto markets crept up on Friday, still holding below recent highs even after President Donald Trump ordered a new working group to draw up crypto regulations long hoped for by the industry and explore the creation of a U.S. cryptocurrency stockpile.
Bitcoin has been broadly steady since Trump took office on Monday, pushing the world's biggest cryptocurrency to a fresh record of $109,071. It was last trading around $106,000 on Friday as some of the euphoria around a hoped-for revolution in cryptocurrency regulation ebbed.