Trump, Bitcoin, and the SEC: A Complex Intersection in Washington

Washington, D.C. remains at the center of the cryptocurrency conversation, with recent headlines focusing on lobbying efforts, regulatory changes, and renewed optimism around Bitcoin's next major move.

California Governor Gavin Newsom has accused President Donald Trump of selling access to the White House, following the announcement of a dinner event for top holders of the Official Trump token.

Meanwhile, U.S. spot Bitcoin ETFs have seen a significant reversal, attracting $6.34 billion in net inflows during the third quarter, according to SoSoValue data. This marks a major turnaround from the approximately $5 billion in outflows seen in the second quarter.

The SEC has also turned its attention to cryptocurrency custody, with Chair Paul Atkins highlighting a new proposal designed to establish a regulatory framework for the asset class.

Bitcoin has seen a significant price increase, with a 42.7% gain for the quarter, and analysts and financial institutions are pointing towards higher price targets. Citigroup has raised its Bitcoin forecast to $113,000, joining other firms with bullish outlooks.

Crypto companies have spent approximately $8 million lobbying for the CLARITY Act, which failed a key Senate vote last month, according to a report published Wednesday.