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FRANCE – 2025/01/20: In this photo illustration, Trump Meme , Trump the Crypto president, is seen displayed on a smartphone screen. (Photo Illustration by Romain Doucelin/SOPA Images/LightRocket via Getty Images)

Romain Doucelin | Getty Images

Crypto executives, companies and investors are getting an early return on their investment in Donald Trump.

After pouring tens of millions of dollars into Trump’s 2024 campaign for president, the crypto industry has been paid back handsomely during his first week in the White House.

“I don’t think they could have imagined a better outcome than they just got in the past 48 hours,” Benchmark’s Bill Gurley, known for an early bet on Uber, told CNBC’s “Closing Bell” on Friday. Gurley said that while tech’s newfound influence in Washington may be harmful to some parts of the startup world, “it’s obviously good for crypto.”

The industry’s support for Trump was built on the Republican leader’s promise to stop the government’s crackdown on crypto and implement regulations favorable to those who wanted to develop new types of payment technologies while easing restrictions on investments in cryptocurrencies.

Industry heavyweights like Coinbase CEO Brian Armstrong and Binance CEO Richard Teng are lauding the start of a new era.

“You have to remember, the last four years, we really felt like we were being attacked by this administration,” Armstrong told CNBC at the annual World Economic Forum in Davos, Switzerland. Armstrong criticized the Biden White House for trying to “weaponize the lack of clarity in the rules,” punishing even the companies that were trying to be helpful.

“There were some bad actors too, to be fair,” Armstrong said. “But they even really tried to go after the good actors, I think, like us.” Coinbase was one of the leading corporate donors in the 2024 election cycle.

Bitcoin hit a record high of around $109,000 on Monday and hovered near $105,000 by the end of the week. It’s up more than 50% since Trump’s election victory in early November.

Trump’s crypto executive order

U.S. President Donald Trump holds a signed executive order on cryptocurrencies in the Oval Office of the White House in Washington on Jan. 23, 2025.

Kevin Lamarque | Reuters

The 48-hour stretch referenced by Gurley included an executive order signed by Trump on Thursday to promote digital asset adoption in the U.S.

Trump called on members of Treasury, the SEC and the Commodity Futures Trading Commission to join forces in a working group to evaluate the potential of stockpiling cryptocurrencies seized by the government.

The order outlined other key priorities, such as protecting bitcoin miners and software developers from what the president called “persecution,” and promoting U.S. dollar-pegged stablecoins, while banning a digital dollar from the Federal Reserve.

Venture capitalist David Sacks, who Trump tapped to be the White House AI and crypto czar, joined the president in the Oval Office for the signing of the order.

Later on Thursday, the SEC made a landmark announcement, withdrawing an accounting rule that made institutional crypto adoption more difficult by forcing banks to treat bitcoin and other tokens as a liability on their balance sheet.

The rule, known as SAB 121, was introduced in 2022 and subjected digital assets to strict capital requirements. It also raised the financial and regulatory risks of offering crypto custody services and boosted operational costs for financial institutions.

Efforts to overturn SAB 121 gained bipartisan support in Congress last year. But then-President Biden vetoed the proposed legislation, leaving the rule intact, further discouraging banks from adopting digital assets beyond derivatives trading and offering exchange-traded funds to wealth management clients.

The move was celebrated by SEC Commissioner Hester Peirce, who on Tuesday was tapped to lead a new “crypto task force” within the agency.

“Bye, bye SAB 121! It’s not been fun,” she wrote in a post on X.

Before the SEC’s announcement, Goldman Sachs CEO David Solomon told CNBC in Davos that from a regulatory perspective, the bank couldn’t own bitcoin and that it would revisit the issue if the rules changed. The CEOs of Morgan Stanley and Bank of America also said that President Trump’s pro-crypto tone could reshape their plans and potentially lead to expanded digital offerings.

Days earlier, Gary Gensler stepped down from his role as SEC chair. Gensler, who emerged as an adversary to the crypto industry, had defended the rule as necessary to protect investors in the event of crypto firm bankruptcies. Trump’s pick to succeed Gensler is former SEC Commissioner Paul Atkins, who is currently CEO at Patomak Global Partners.

Silk Road founder gets out of prison

Ross Ulbricht, the creator of the website Silk Road, appears in an undated photograph made from his computer and presented as an exhibit during his 2015 criminal trial in New York federal court. 

SDNY | Via Reuters

Trump’s first big nod to the crypto industry as president came earlier in the week and took a very different form.

On Tuesday, his second day in office, Trump granted a full pardon to Ross Ulbricht, the founder of Silk Road. Ulbricht, 40, had been serving a life sentence without the possibility of parole since 2015, after he was convicted in federal court on seven charges that included distributing narcotics and conspiring to commit computer hacking.

Silk Road operated from 2011 to 2013, serving as a dark web marketplace where users bought and sold a mix of contraband, including illegal narcotics like heroin. The platform facilitated more than $200 million in sales, according to federal prosecutors, and was tied to the death of at least six people.

At its peak, Silk Road functioned as a global drug bazaar, with transactions conducted largely in bitcoin, making it one of the earliest large-scale applications of a cryptocurrency. Prosecutors later argued that the anonymity afforded by bitcoin was instrumental in letting Silk Road vendors mask their identities.

Ulbricht had become a cult hero of sorts in the crypto community, and the “Free Ross” movement had gained resonance among conservative media personalities and politicians.

“I just called the mother of Ross William Ulbricht to let her know that in honor of her and the Libertarian Movement, which supported me so strongly, it was my pleasure to have just signed a full and unconditional pardon of her son, Ross,” Trump wrote in a post on Truth Social on Tuesday.

Changpeng Zhao, the billionaire co-founder and former CEO of Binance, commented on X with a clapping emoji after the pardon was announced. Zhao was sentenced to four months in prison in April, after pleading guilty to charges of enabling money laundering at his crypto exchange.

The Trump meme coins

Hakan Nural | Getty Images

Not all of Trump’s actions in the past week have been universally praised by the crypto industry.

Most notably, the president has been frolicking in a part of the market that’s notorious for scams. Last weekend, while crypto leaders and members of Trump’s family and inner circle were partying at the Crypto Ball in Washington, the $TRUMP meme coin was taking off online.

Then came the $MELANIA coin. Taken together, the Trump family made billions of dollars on paper due to their ownership of assets created out of thin air. Crypto enthusiasts worry that it’s a troubling sign of Trump’s real intent and is damaging to the credibility of an industry that’s trying to prove its legitimacy.

“Call me old fashioned but I think presidents should focus on running the country and not launching scam tokens,” wrote Nic Carter of Castle Island Ventures, in a post on X.

The website for $TRUMP says 80% of the supply is held by the Trump Organization and affiliates.

Lawmakers also have objections.

Sen. Elizabeth Warren and Rep. Jake Auchincloss, both Massachusetts Democrats, raised issues regarding the first couple using their positions for enrichment, along with the potential for “rug-pull” scams.

“We write with deep concern about the decision by President Trump and First Lady Melania Trump to launch two meme coins, $TRUMP and $MELANIA, that allow them to earn extraordinary profits off his Presidency,” the pair said in a letter obtained by CNBC.com. “These coins do not create new faster, cheaper, and safer payments rails. These coins do not help people borrow more affordably. They do not improve the financial system in any way for consumers.”

$TRUMP is now trading at under $30, down more than 50% from its peak shortly after launch. The $MELANIA token has plunged more than 80% from its high, and is currently trading below $2.50.

The meme coins are subject to a multi-year vesting schedule, ensuring that the majority of tokens cannot be liquidated all at once. Without selling any tokens, former Coinbase executive and crypto analyst Conor Grogan estimates that the Trump team still generated $58 million in trading fees on the first day.

Trump's crypto executive order paves the way for a digital asset stockpile

Skepticism isn’t limited to the meme coins.

In Trump’s executive order on Thursday, the president fell short of directing the U.S. to start buying bitcoin directly and holding it as a reserve.

Ahead of the order, Binance CEO Richard Teng told CNBC in Davos that he anticipated the U.S. would establish a strategic bitcoin reserve. Circle CEO Jeremy Allaire called it “prudent” for central banks to hold reserves in bitcoin.

Trump had floated the idea on the campaign trail, suggesting that a U.S. bitcoin reserve could be backed by crypto assets seized from hackers and fraud rings, a proposal that remains under consideration.

But in his 1,300-word executive order on Thursday, Trump didn’t just avoid calling for a bitcoin reserve. The word bitcoin was nowhere to be found.

— CNBC’s Ryan Browne contributed to this report.

SEC Commissioner Peirce: The logic for why we haven't approved a bitcoin ETF has always mystified me

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Hyundai is testing an interesting-looking new EV [Video]

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December 1, 2025

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Hyundai is testing an interesting-looking new EV [Video]

Hyundai-testing-new-Crater-EV

Is this our first look at the Hyundai Crater in action? A new Hyundai EV was spotted testing with a unique design.

Is Hyundai testing a new off-road EV?

Hyundai is at it again. At the LA Auto Show last month, Hyundai unveiled the Crater Concept, a compact off-road electric SUV.

According to Hyundai, the Crater Concept “explores the next evolution” of its extreme-rugged-terrain (XRT) design, sharing design elements with other XRT models, like the IONIQ 5 XRT and Palisade XRT Pro.

Hyundai designed the compact SUV with one clear goal in mind: to create a rugged, capable vehicle that can go anywhere. Hyundai’s design team in Irvine, California, crafted it as the company pushes further into off-road, extreme vehicles.

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Hyundai’s design team added wide skid plates, 33″ off-road tires, tow hooks, limb risers, rocker panels, and a roof platform to give it a truly rugged, go-anywhere attitude.

Although Hyundai has yet to confirm it, the Crater is expected to come to life as a production model. A test car based on the Hyundai Kona was spotted driving in Korea, believed to be an early Crater test mule.

Hyundai-testing-new-Crater-EV
The Hyundai Crater Concept, a compact off-road electric SUV (Source: Hyundai)

The video from our friends at Healer TV shows the vehicle with a unique device mounted on the back, a raised suspension, new wheels, added tow hooks, and a light on the side.

With features similar to those of the Kia EV9 and Genesis GV70 test mules, the reporter believes “there’s a very good chance” the vehicle is an early Hyundai Crater test car.

From the back, you can clearly see the vehicle’s higher ground clearance, and it also has a towing device installed. The test mule does have mufflers, but many automakers, including Hyundai, test new vehicles with fake mufflers and other disguises to hide the design from the public.

Is this our first look at the Hyundai Crater in real life? Let us know your thoughts in the comments. We’ll likely find out more info soon. Check back for updates.


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Up to $13,289 exclusive savings on DELTA Pro Ultra X power station + 18 other offers, MOD e-bike Cyber Monday sale, Lectric, more

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December 1, 2025

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Up to ,289 exclusive savings on DELTA Pro Ultra X power station + 18 other offers, MOD e-bike Cyber Monday sale, Lectric, more


Thanksgiving may be over, but that just means we’re moving into Cyber Monday savings! Today’s Green Deals are jam-packed with power station and e-bike savings, in particular, led by EcoFlow’s latest DELTA Pro Ultra X Portable Whole-Home Backup Power Station (as well as 18 additional series offers) with up to $13,289 exclusive savings to new low prices starting from $174 – plus, EcoFlow’s DELTA Pro Ultra solar bundle and the brand’s latest flash sale. From there, we have a rare sale from MOD Bikes, with the Easy 3 Cruiser e-bike back at a $2,199 low, among others, as well as Lectric’s Cyber Monday Sale, and new low prices on units from Anker SOLIX, Jackery, an EGO Multi-Head combo, and much more waiting for you below. And don’t forget about the hangover deals from last week alongside the latest deals from this week that are collected together in our Black Friday/Cyber Monday Green Deals hub, which we will continue to update through the rest of the week.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Score up to $13,289 exclusive Cyber Monday savings on EcoFlow’s DELTA Pro Ultra X power station + bundles, more from $174

For Cyber Monday, we’ve secured a very special exclusive code from Wellbots that saves our readers an additional 10% on a large selection of offers on EcoFlow’s latest (and largest) backup power solution, with the DELTA Pro Ultra X Portable Power Station (1x inverter + 2x batteries) for $7,199.10 shipped, after using the exclusive code 9TO5CMDPUX at checkout. This is the latest release from the brand, having opened for pre-sale discounts mid-October and officially hitting the market at the top of November carrying a $10,597 MSRP, which starts off lower at $8,299 here at Wellbots. Aside from the initial $1,000 pre-sale promotional discount, we’ve only seen this model taken down to $7,999 in early and full Black Friday sales from the brand, with this exclusive deal giving you a larger-than-ever, combined $1,100 off Wellbots’ starting rate ($3,398 off its MSRP) for the lowest price we have tracked. Head below to learn more about it and check out the 18 other offers for this system.

The EcoFlow DELTA Pro Ultra X power station is an even more capable home backup solution than its predecessor, starting with a 12,288Wh LiFePO4 battery capacity that can expand to 180kWh, which is twice as large a maximum as its predecessor’s final expanded capacity. Its power output also expands along with the system, going from 12,000W to 36,000W, complete with all the port options you could need to power devices, appliances, RVs, EVs, and much more. Among those options, you’ll also gain the greatest of the brand’s home backup capabilities here when paired alongside the Smart Home Panel 3 (which is included amongst the offers below).

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You’ll have plenty of options to recharge the station, including the usual AC outlet option, as well as with up to its 10,000W solar input max, gas generators, with a level 2 EV charging station, and through a Smart Home Panel from the grid or solar – or both simultaneously. Speaking of the Smart Home Panel 3, it’s a 200A hub for your home systems that covers up to 32 different circuits once installed, giving you emergency options to cut non-essential loads across your home should the grid ever go down unexpectedly.

***Note: Be sure to use the exclusive code 9TO5CMDPUX at checkout to score the additional 10% discount that gives you the prices seen below.

Exclusive Wellbots EcoFlow DELTA Pro Ultra X deals:

man and woman riding MOD Easy 3 e-bikes down road

MOD Bikes offers rare Black Friday/Cyber Monday e-bike discounts to lows starting from $1,799 (Up to $400 off)

It’s the final day of MOD Bikes’ Black Friday/Cyber Monday Sale event with up to $400 rare discounts across its e-bike lineup, including one of my favorite rides of all time: the Easy 3 Cruiser e-bike at $2,199 shipped. There are also its sidecar counterparts, the Easy 3 SideCar e-bike at $3,499 shipped and the newer Easy SideCar Sahara also at $3,499 shipped – both down from $3,899. The standard Easy 3 e-bike dropped from its $3,499 MSRP to $2,399 during last year’s Black Friday season, which we stopped seeing the brand offer discounts for (alongside its entire lineup) back in spring, likely due to tariffs, but we’re getting a rare discount to its lowest tracked price here today, saving you $200 (and $400 off the SideCar variants to their lowest prices).

You learn more below and browse the entire sale lineup, as well as get my in-depth experience in my hands-on review here.

If you want to learn more about this particular model, you can get an in-depth experience in our hands-on review here, or check out our coverage of the full sale lineup here.

EcoFlow DELTA Pro Ultra power station outside next to solar panels

Get EcoFlow’s DELTA Pro Ultra power station + a FREE 400W solar panel at a new $3,449 Cyber Monday low ($2,350 off)

With Cyber Monday in full swing, over at Wellbots you can score the DELTA Pro Ultra Portable Whole-Home Backup Power Station with FREE 400W solar panel for $3,449.08 shipped, after using the code ECOBF8 at checkout, beating out the brand’s direct sale pricing that would cost you $4,178 with the event’s extra savings code. This monstrous bundle is dropping down from its $5,799 full price to $3,749, which already starts $50 under the previous low, but the deal gets all the sweeter thanks to the additional $300 that the extra savings code gets you. That’s $2,350 in total Cyber Monday savings, landing it at a new all-time low price.

You can learn more about this whole-home backup power solution in our original coverage of this deal here.

promotional Cyber Monday banner for Lectric e-bike sale
man and woman make coffee with power from Anker SOLIX C1000 Gen 2 power station
EcoFlow DELTA 2 power station surrounded by plants in window
man riding bike with Jackery Explorer 240D power station
EGO Power+ Multi-Head Cyber Monday deal

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.


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Lucid (LCID) calls out rivals as the 2026 Air remains the most efficient EV in the US

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December 1, 2025

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Lucid (LCID) calls out rivals as the 2026 Air remains the most efficient EV in the US

Lucid-Air-most-efficient-EV

Lucid Motors (LCID) is calling out the competition after the 2026 Air remains the most efficient EV in the US according to new EPA rankings.

2026 Lucid Air remains most efficient EV in EPA rankings

It has been 9 years since Lucid introduced the +400-mile-range Air, its first luxury electric sedan. Since then, the California-based EV maker has come a long way, introducing its first electric SUV, the Gravity, and plans to launch a series of more affordable midsize vehicles, starting later next year.

Lucid’s former CEO, Peter Rawlinson, who was a top engineer at Tesla before joining the luxury EV startup in 2013, promised the company’s innovations would be “the key to unlocking greater efficiency,” and ultimately, more affordable vehicles.

Rawlinson was not kidding. The 2024 Lucid Air Pure was deemed the “world’s most efficient car” with a record 5 miles of range per kWh and a 146 MPGe rating, the highest rating ever given to an EV by the EPA.

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Even with a slate of new EVs hitting the market, many claiming next-level efficiency, the Lucid Air is still ahead of the pack.

Lucid-Air-most-efficient-EV-2026
The 2026 Lucid Air (Source: Lucid)

According to new EPA rankings, the 2026 Lucid Air Pure RWD (with 19″ wheels) remains the most efficient EV in the US with a 146 MPGe rating.

The Air beat out the 2026 Tesla Model Y Standard RWD (138 MPGe), 2026 Tesla Model 3 Premium RWD (137 MPGe), 2026 Toyota bZ (131 MPGe), and the 2026 Mercedes-Benz CLA250 Plus EV (126 MPGe).

Lucid’s communications boss, Nick Twork, shared the news on social media, saying the Air “delivers “S-Class size with unmatched efficiency.”

While many automakers tout EV range using more lenient WLTP or CLTC test cycles, Twork said Lucid’s advantage “comes from a holistic engineering approach” that was designed years ago and “still ahead of any passenger car sold today.”

Electrek’s Take

By developing electric vehicle components from the ground up, including the powertrain, battery systems, and software, Lucid has an advantage over many legacy automakers that rely on third parties to outsource.

For one, Lucid’s innovations are already driving down costs. The first Lucid Air Dream Edition, launched in 2021, started at $169,000. Today, you can snag the Lucid Air for as low as $70,900.

Lucid is now ramping production of its first electric SUV, the Gravity. Last month, it launched the lower-priced Gravity Touring trim, starting at $79,900.

Starting later next year, Lucid will begin production of its midsize platform, which will spawn at least three “top hats” priced around $50,000. The first will be a midsize crossover SUV, followed by a more rugged SUV that will share design clues from the Gravity X concept. Although it’s yet to be confirmed, the third is expected to be a midsize sedan that could go head-to-head with the Tesla Model 3.

Rawlinson previously said Lucid’s midsize vehicles are aimed “right in the heart of Tesla Model 3, Model Y territory.”

After reporting Q3 earnings last month, Lucid said it had enough liquidity to fund it through the first half of 2027 and confirmed it’s on track to begin production of the midsize platform in late 2026.

Ready to test Lucid’s luxury EVs for yourself? Lucid is running a Cyber Monday Special, offering $2,000 toward an Air or $3,000 toward a Gravity. Check out the links below to find Lucid Air and Gravity models in your area.


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