Bitcoin maintains a strong momentum despite whipsawing either side of $90k over the weekend, after briefly surpassing $93K last week. Meanwhile, Bitwise filed for a multi-crypto ETF and SEC Chair Gary Gensler hinted at resigning.

Bitcoin broke above $80K over the weekend after Donald Trump’s U.S. election win last week spurred a broad market rally. ETH is also up by over 30% since November 5, outpacing BTC for the first time in months. Meanwhile, a consortium of crypto companies launched a USD-backed stablecoin, and the U.S. SEC delayed its decision on spot ETH ETFs options.

Bitcoin’s price regained ground in the early hours of Monday after pulling back on Friday, following a WSJ report that U.S. regulators are investigating Tether, the issuer of the largest stablecoin. Meanwhile, Kraken announced plans to launch its own Layer 2 solution by 2025, and Robinhood debuted presidential election betting.

Bitcoin gained more than 5% last week despite Tesla moving $765 million of its BTC holdings to an unknown wallet. Meanwhile, DeFi protocol Radiant Capital halted lending after $50mn exploit, Singapore’s largest bank introduced tokenized banking services, and Robinhood announced it will launch BTC and ETH futures trading.

Last week saw significant regulatory developments in the cryptocurrency space. The U.S. Securities and Exchange Commission (SEC) charged Cumberland, one of the oldest liquidity providers in crypto, with operating as an unregistered broker-dealer. In a separate case, the SEC, in conjunction with the Department of Justice (DOJ), took action against several companies and individuals allegedly involved in wash trading.

Altcoins joined the rally last week after China announced its largest stimulus package since the pandemic, boosting risk-on demand. In other news, BNY Mellon has received approval from the US SEC to offer crypto custody.

Bitcoin neared $64K in the early hours on Monday after strong jobs data in the US dispelled recession fears. Meanwhile, Bitwise filed for a spot XRP ETF, while the U.S. SEC appealed the $125mn fine in its four-year legal battle with XRP’s issuer. Elsewhere, Kraken launched a derivatives platform in Bermuda.

Altcoins joined the rally last week after China announced its largest stimulus package since the pandemic, boosting risk-on demand. In other news, BNY Mellon has received approval from the US SEC to offer crypto custody.