Today in crypto, US President Donald Trump’s executive order opening the door for 401(k) retirement plans to invest in crypto has been met with cautious optimism in the crypto community, Ripple and the US Securities and Exchange Commission (SEC) have officially wound up their years-long court battle, and President Trump said he will nominate Stephen Miran to temporarily fill a vacant Federal Reserve seat.
Bitcoin likely to lead gains from Trump’s 401(k) crypto order
US President Donald Trump signed an executive order on Thursday opening the door for Americans to include crypto and other alternative assets in their 401(k) retirement accounts and other defined-contribution plans, a policy shift that has sparked optimism and caution from the crypto industry.
Trump’s executive order directs the US Labor Department to reevaluate restrictions on alternative assets like crypto, private equity and real estate in 401(k)s and other defined-contribution plans.
As of the first quarter of 2025, US retirement assets totaled $43.4 trillion, according to the Investment Company Institute and the Federal Reserve Board. Defined-contribution plans, including $8.7 trillion in 401(k)s, accounted for more than $12 trillion.
With billions of dollars potentially flowing into crypto, industry stakeholders shared their opinions and reactions to the executive order.
Bitwise chief investment officer Matt Hougan said that the change could transform the crypto markets by introducing a “slow, steady, consistent bid” from retirement contributions. “The result is higher returns and lower volatility,” Hougan added.
Joshua Krüger, head of growth at the dEURO Association, said the main short-term beneficiary is likely to be Bitcoin (BTC). With BTC having the strongest institutional acceptance, he predicts that it will be the first to be integrated into regulated pension products.
SEC, Ripple legal fight ends with agreement to drop appeals
The Securities and Exchange Commission and Ripple Labs ended their yearslong legal battle over XRP (XRP) on Thursday after a US appeals court recognized the regulator’s bid to abandon its appeal and the blockchain company’s move to stop its cross-appeal.
The Second Circuit Appeals Court recognized a joint dismissal of the SEC’s appeal and Ripple’s cross-appeal, noting each party will bear their own costs and fees.
The SEC sued Ripple in late 2020, accusing it of selling XRP as an unregistered security. A federal judge in July 2023 ruled that XRP sold on public exchanges did not meet the definition of a security, but XRP sold to institutional investors were unregistered securities — a decision the agency had appealed.
With the appeals process for the lawsuit abandoned — that ruling is now final. Ripple will also have to pay $125 million in fines, which the company and the SEC tried and failed to have reduced.
Trump picks top economic adviser to temporarily fill crucial US Fed seat
US President Donald Trump said he would nominate Stephen Miran, chair of the Council of Economic Advisors, to temporarily replace Federal Reserve Board of Governors member Adriana Kugler after her resignation becomes effective on Friday.
In a Friday social media post, Trump said Miran would serve at the Fed until Jan. 31, 2026, as the White House will “continue to search for a permanent replacement.” The president had reportedly been weighing economic adviser Kevin Hassett, former Fed governor Kevin Warsh and two other people to replace Kugler by the end of the week.
The next Fed board member will have significant influence over the country’s monetary policy, including federal interest rates. The incoming nomination, which must be approved by the Senate, follows Kugler’s resignation on Aug. 1. No reason was given for her departure.
Hassett, also director of the National Economic Council under Trump, disclosed holding a stake in Coinbase Global worth between $1 million and $5 million as of June. Warsh, who served as a Fed governor from 2006 to 2011, reportedly said that blockchain technology could benefit the US central bank with its payment systems.
