Bitcoin posts monthly candlestick, filing reveals Trump’s crypto platform: Finance redefined

On November 5, Bitcoin posted the biggest monthly candlestick in crypto history when it climbed to the $100,000 milestone, fueled by investor appetite fueled by Donald Trump's victory in the US presidential election.

Adding to the positive crypto industry outlook for the next four years, Trump's social media company is seeking a trademark for computer software used for cryptocurrency trading and digital wallet services, official documents have confirmed.

Bitcoin records 40% monthly candlestick as price crosses $99,000

Bitcoin price posted the biggest monthly candlestick in crypto history as the world's first cryptocurrency neared six-figure value for the first time.

Bitcoin (BTC) prices surged more than 40.8% in November, with BTC breaching $99,000 to set a new all-time high for the largest monthly candlestick, according to Bitstamp data.

Bitcoin's monthly all-time high was achieved by Trump in 2018. It comes two weeks after he won the 2024 US presidential election on November 5, sparking renewed investor appetite for risk assets like Bitcoin.

More and more analysts expect Bitcoin to breach the $100,000 mark.

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Trump's media hinted at crypto trading, payments in TruthFi's trademark filing

Trump's social media company has filed for a new trademark for “TruthFi,” revealing its ambitions for the cryptocurrency business and payment service.

According to a Nov. 18 filing with the United States Patent and Trademark Office, Trump Media is seeking a trademark for computer software such as digital wallets, payment processing for crypto, fiat, and trading in digital assets.

Other sections of the application refer to market analysis data and financial research statistics, and financial protection services, specifically “keeping financial assets for others for financial management purposes.”

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CFTC Commissioner urges reform of US crypto policy

At the North American Blockchain Summit on November 21st, CFTC Commissioner Summer Mersinger discussed the importance of U.S. standard crypto-related policies on notice and comment regulation.

The United States' Commodity Futures Trading Commission (CFTC), along with the current administration's Securities and Exchange Commission, has played a role in implementing the current “regulation by enforcement” strategy.

Mersinger said a recent lawsuit against a decentralized autonomous organization (DAO) required the CFTC to seek a court ruling for entity classification. In this case, the CFTC sought to classify The DAO as a corporation or association:

“I'm very troubled by this idea because of our enforcement issues and the fact that we're going to go to court and come up with some kind of policy. To me, how do you handle that part of the policy question.

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UK to provide a comprehensive crypto regulation framework by early 2025

A draft regulatory framework for crypto assets will be ready in the UK early next year, a Treasury official promised at the London City and Finance Global Tokenization Summit on November 21.

Some regulations were expected months ago, but a general election scrapped those plans with Prime Minister Rishi Sunak's conservative government. Keir Starmer's Labor government, which took office on July 5, will deliver the regulations.

Treasury Secretary of the Economy Tulip Siddique said the rules would cover stablecoins and staking services as well as cryptocurrency, according to Bloomberg. “It's easier and more meaningful to do everything at one level,” says Siddiq.

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AI and big data tokens surged 131% amid Bitcoin's run.

The artificial intelligence and big data token has seen its market capitalization grow by 131.4% since hitting the year's low on June 8, hitting the pace of Bitcoin's ongoing bull run.

In the year On November 19, the total volume of AI and big data crypto projects and tokens rose to $42.1 billion, led by Near Protocol (NEAR), Internet Computing (ICP) and Render (RENDER), according to Cointelegraph Markets Pro and data. CoinMarketCap.

Recent AI token valuations reflect overall positive investor sentiment, growing confidence in Bitcoin's regulatory transparency in several jurisdictions, and no major ecosystem collapse.

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Overview of the DeFi market

According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.

Out of the top 100, Mantra (OM) coin made the biggest gain of the week by over 122%, followed by Stellar (XLM) token which increased by over 114% on the weekly chart.

Thanks for reading this week's roundup of the most impactful DeFi developments. Join us next Friday for more stories, insights and lessons about this dynamic and evolving space.