The crypto market’s center of gravity is back in the US as 2025 approaches, courtesy of Donald Trump’s reelection to the presidency and widening demand for the nation’s digital-asset funds and derivatives contracts.

Cryptocurrency markets have soared since Donald Trump won the U.S. presidential election in November. The asset climbed from $69,374 on Election Day, hitting as high as $106,490 last week, largely accelerated by Trump's win and his pledge to make the country "the crypto capital of the planet."

The crypto industry is urging Donald Trump’s team to begin his promised crypto policy changes when he becomes president next month. Industry officials say they want him to use executive orders to make cryptocurrencies more mainstream.

Singapore forged ahead with efforts to formulate a digital-assets hub in 2024, while rival financial center Hong Kong has struggled to gain traction.

Singapore solidified its status as a leading digital assets hub in 2024, granting 13 crypto licenses to a mix of major exchanges and global operators, more than doubling the previous year’s approvals,

Singapore stepped up its efforts to become a leader in digital assets in 2024, while Hong Kong struggled to keep pace in the race to attract crypto businesses. According to a Bloomberg report, Singapore issued 13 crypto licenses to various operators in 2024.