The incoming Trump administration is set to shape the future of cryptocurrency and blockchain technology in the United States with a wave of key appointments and nominations. As President-elect Donald Trump prepares to take office, crypto advocates are hopeful that the new leadership will take a friendlier stance toward the industry, marking a departure from years of lawsuits and enforcement actions.
Among the prominent appointees, billionaire hedge fund manager Scott Bessent, slated to be Treasury Secretary, has voiced strong support for crypto, calling it “about freedom.” Commerce Secretary nominee Howard Lutnick, who leads Cantor Fitzgerald, is an active bitcoin proponent, while Elon Musk, heading the new Department of Government Efficiency (DOGE), has a well-documented history of championing cryptocurrencies like bitcoin and dogecoin. Vivek Ramaswamy, a former presidential candidate, will work alongside Musk at DOGE, with a focus on integrating bitcoin into broader investment portfolios.
David Sacks, a former PayPal executive and crypto investor, was named the administration’s AI and crypto czar, tasked with creating a long-sought legal framework for digital assets. Vice President-elect J.D. Vance and members of the Trump family, including Eric Trump, Donald Trump Jr., and Barron Trump, have also signalled strong support for cryptocurrency, further solidifying the administration’s pro-crypto stance. With SEC Chair nominee Paul Atkins advocating for deregulation, the industry is optimistic about a more innovation-friendly approach.
The Trump administration’s apparent focus on fostering a robust US crypto industry has already garnered attention, including a sold-out crypto-themed ball in Washington. While critics voice concerns about conflicts of interest and regulatory gaps, supporters believe these appointments could position the US as a global leader in cryptocurrency and blockchain technology.
Meta, the parent company of Facebook, announced that its new ‘Community Notes’ feature will apply only to organic content, not paid ads, when it rolls out later this year. Similar to a feature on X, the platform formerly known as Twitter, Community Notes will allow users to add context to organic posts, which are posts that Meta has not been paid to promote. However, paid advertisements will be excluded from this feature.
Aspects of the program are still evolving, with brand and influencer organic posts potentially not being subject to Community Notes initially. Meta clarified that it is in the process of transitioning to this new system and will continue to evaluate and refine it throughout the year. The company recently scrapped its US fact-checking program and is now focusing on this new initiative, ahead of President-elect Donald Trump’s inauguration.
Meta emphasised that any further details about the Community Notes program, beyond what has been officially announced, are speculative at this point. The company will begin implementing the feature in the US over the next couple of months as part of a broader overhaul in how it handles political content.
As a potential US ban on TikTok looms, advertisers dependent on the platform are scrambling to prepare contingency plans. With a January 19 deadline for ByteDance, the Chinese parent company of TikTok, to sell its US assets or face a ban, many marketers are facing the reality that the app may soon be inaccessible. This has led to a sense of urgency, with some industry professionals describing the situation as a “hair on fire” moment.
TikTok, which has become a key player in US digital advertising, particularly among younger audiences, may lose over $11 billion in annual ad revenue if the ban goes through. Most of this ad spend would likely shift to platforms like Meta’s Instagram and Alphabet’s YouTube Shorts, where many advertisers are already established. Despite the uncertainty, TikTok continued to pitch new advertising features and planned its presence at major global events like the World Economic Forum in Davos.
In the face of potential shutdown, many influencers and brands are downloading their data in a last-ditch effort to preserve content and advertising materials. TikTok has offered favourable refund terms to advertisers, though some still question the platform’s future in the US. This heightened uncertainty marks a stark contrast to the optimism advertisers held just weeks ago, when many expected a resolution before the ban could take effect.
TikTok’s growing influence in US advertising, particularly in e-commerce, has been notable, with ad spending on the platform increasing rapidly. Despite challenges, the app’s powerful ability to drive sales through influencers and short-form video content has made it a favourite among advertisers looking to tap into the youth market. As the deadline approaches, all eyes are on whether the incoming administration will intervene to prevent TikTok’s shutdown.
Beijing-based AI company Zhipu Huazhang Technology has opposed the US government’s plan to add it to the export control entity list. The company argues the decision lacks a factual basis.
Zhipu issued a statement on its official WeChat account expressing strong opposition to the move. The firm criticised the US commerce department’s intentions, insisting the decision was unjustified.
Zhipu and its subsidiaries face restrictions on accessing US technologies if added to the list. The company maintains it operates lawfully and transparently in its business practices.
The US has been increasing scrutiny on Chinese technology firms, citing national security concerns. Zhipu emphasised its commitment to responsible technology development and cooperation with global partners.
US authorities, including the Commerce Department and the FBI, are investigating Baicells Technologies, a telecom hardware company with ties to China, over potential security risks. Founded by former Huawei executives, Baicells has supplied telecom equipment to 700 networks across the US since opening its North American branch in 2015. The investigations focus on national security concerns, particularly around the company’s Chinese origins and its equipment’s potential vulnerability to espionage. The FBI’s interest in Baicells goes back to 2019, and recent reports suggest that the Pentagon has added the company to a list of entities connected to China’s military.
While Baicells has denied any wrongdoing and pledged full cooperation with US authorities, the company faces mounting scrutiny amid fears that Chinese-made telecom equipment could be used for surveillance or cyber attacks. In particular, base stations and routers provided by Baicells have been flagged for vulnerabilities that could allow hackers to compromise sensitive networks. The FBI has already contacted local US entities, such as the city of Las Vegas, to raise security concerns regarding Baicells’ technology.
Despite Baicells’ claims that it no longer has ties to its Chinese parent company, its history and ownership structure continue to raise doubts. Many of its top executives and a significant portion of its staff have links to Huawei, further fueling suspicions about the company’s operations. In recent years, Baicells has attempted to distance itself from its Chinese roots, stating that its infrastructure is increasingly built in Taiwan, though much of its equipment still originates from China. The ongoing investigations highlight the broader concerns in Washington about the risks posed by Chinese-linked technology in critical infrastructure.
Users of the Chinese social media platform RedNote have welcomed an influx of American TikTok users, posting messages and selfies to greet the newcomers. The surge of over 700,000 users follows a looming US ban on TikTok, which has 170 million American users. Chinese foreign ministry officials have expressed support for greater cultural exchanges, while state media described RedNote as a “new home” for TikTok users.
The app, known as Xiaohongshu in China, has traditionally been used for lifestyle content but has now become an unexpected platform for US-China interactions. Many American users have asked about Chinese food, culture, and daily life, while Chinese users have eagerly responded. Some, however, have voiced concerns, with nationalist bloggers warning against Western influence.
Despite the warm reception from many, tensions have emerged over content and platform moderation. Some US users have tested RedNote’s censorship policies by posting about politically sensitive topics. Analysts believe the trend may be short-lived, as past instances of Western social media adoption in China, such as Clubhouse, ended with government restrictions. RedNote is reportedly working to improve its moderation of English-language content.
Washington has blacklisted over two dozen Chinese entities, including Zhipu AI and Sophgo, for alleged links to restricted chip technology in Huawei processors. The Commerce Department has also tightened export controls on chips that could be diverted to Huawei.
Zhipu AI, backed by Tencent and Alibaba, was accused of contributing to China’s military modernisation through advanced AI research. Sophgo faced scrutiny after a chip found in Huawei’s Ascend 910B AI system matched one it ordered from Taiwan Semiconductor Manufacturing Co (TSMC).
The measures impose stricter licensing requirements for chip exports, targeting semiconductors at 14 or 16-nanometre nodes used in AI applications. New restrictions also affect DRAM memory, crucial for high-bandwidth AI processing, which could impact Chinese chipmaker CXMT.
Zhipu AI denied the claims, while Sophgo stated it had no direct or indirect ties to Huawei. Huawei and TSMC declined to comment on the latest sanctions, which build on previous curbs against Huawei and its network of suppliers.
Sean Duffy, nominated to lead the US Transportation Department, stated he would allow the ongoing federal investigation into Tesla’s advanced driver assistance technology to proceed. The National Highway Traffic Safety Administration (NHTSA) launched a probe into 2.4 million Tesla vehicles with Full Self-Driving (FSD) software after multiple crashes, including a fatal 2023 incident.
Duffy affirmed he would not interfere with the investigation despite Tesla CEO Elon Musk’s ties to former president Donald Trump. During a Senate hearing, Duffy responded to Senator Ed Markey’s request for objectivity, assuring that the NHTSA would be able to operate independently.
NHTSA recently opened a separate investigation into Tesla’s Actually Smart Summon feature, following crashes where vehicles failed to detect obstacles while being moved remotely. The agency is also evaluating whether Tesla’s recall of over two million vehicles in December 2023 adequately addressed safety concerns, particularly drivers’ attentiveness while using Autopilot.
Duffy also indicated he would review the Federal Aviation Administration’s proposed $633,000 fine against Musk’s SpaceX, linked to launch license violations.
Disappointment and confusion swept across TikTok users in the United States as news broke that ByteDance, the app’s Chinese owner, plans to shut down the platform for its 170 million US users by Sunday. The move comes in response to a federal ban requiring ByteDance to sell TikTok’s US assets by January 19 due to national security concerns. While some users hold out hope for a last-minute reprieve, many are preparing for the worst.
Content creators, many of whom have built careers and followings on TikTok, expressed frustration and sadness. Some vowed to boycott rival platforms like Instagram, Facebook, and X, while others scrambled to save their content. True crime creator Amber Goode, from Colorado, criticised the government for “playing with us,” while other users shared instructions on migrating to alternative platforms, including China-based apps like RedNote.
TikTok has maintained that it does not and would never share US user data with China, arguing that the ban violates First Amendment rights. Unless the Supreme Court intervenes, users attempting to open the app on Sunday will be redirected to a shutdown information page. President-elect Donald Trump is reportedly exploring executive actions to delay the ban, but the outcome remains uncertain.
The shutdown has sparked mixed emotions globally, with some international users relieved that American social media issues may no longer dominate their feeds. However, for US creators like Ishpal Sidhu, who stands to lose her livelihood, the uncertainty has cast a shadow over what was once a thriving platform.
China’s Commerce Ministry announced plans to investigate US government subsidies to its semiconductor sector following requests from China’s mature node chip industry. The ministry stated on Thursday that these subsidies, introduced under the Biden administration, allegedly provide American companies with an unfair competitive advantage in the global market.
According to the Chinese government, US firms have exported mature node chip products to China at reduced prices, causing harm to the interests of China’s domestic semiconductor industry. Beijing views these practices as a threat to its industry’s rights and competitive balance.
The investigation reflects rising tensions between the two nations over technology and trade, particularly as both seek to bolster their semiconductor sectors amid growing geopolitical competition.
