US shutdown ends, crypto progress resumes as Trump signs bill
US President Donald Trump has signed off on a funding bill passed by the House of Representatives on Wednesday, officially bringing an end to the record 43-day government shutdown.
The funding bill went through the Senate on Monday and passed the House of Representatives on Wednesday, with Trump signing the bill just hours later to get the government back up and running.
Healthcare funding was one of the sticking points that halted the bill, with Democrats pushing to increase support, while Republicans sought to address the issue after the bill had passed.
After signing the bill, President Trump indicated that he may be willing to work with the Democrats to iron out these issues.
“I’m always willing to work with anyone, including the other party,” Trump said, adding:
“We’ll work on something having to do with health care. We can do a lot better.”
The latest shutdown, which has become an almost annual affair, was the longest on record at 43 days.
The bill itself enables funding to support government operations until Jan. 30, and gives more time for Democrats and Republicans to strike a deal for broader funding plans across 2026.
What does it mean for crypto
The reopening of the government will see staff return to crypto-related agencies, such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Crypto ETF issuers have been waiting for the SEC to approve a host of potential spot-crypto exchange-traded fund applications. Meanwhile, the CFTC has already pushed forward with plans for a Nov. 19 confirmation hearing of Mike Selig, Trump’s top pick to head the agency.
Related: SEC chair pledges no ‘lax enforcement’ on crypto under market structure
The Treasury should now also be positioned to sift through public feedback on the stablecoin-focused GENIUS Act, which was compiled between early October and the start of November.
Despite this, the crypto markets have responded flatly to the end of the government shutdown, with Bitcoin price action being minimal.
In past instances, the resumption of the US government has led to major rallies.
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Sir Keir Starmer has apologised to his health secretary after allies of the prime minister accused him of plotting a coup.
Sky News understands Sir Keir spoke briefly to Wes Streeting on Wednesday evening, though did not share details about the briefing campaign.
Politics Hub: Follow latest updates
Speaking at Prime Minister’s Questions earlier in the day, he denied authorising the attacks on Mr Streeting, who was accused of planning a leadership challenge after the budget later this month.
Mr Streeting said the allegations are “not true”, telling Sky News’ Mornings With Ridge And Frost that whoever was behind the briefings had been “watching too much Celebrity Traitors”.
He insisted he was loyal to the prime minister, who has been under mounting pressure as he and the Labour Party flounder behind Reform in the polls.
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Health secretary insists he’s ‘a faithful’
Downing Street went on the attack on Tuesday night to ward off any potential challenge to Sir Keir after the budget, which could see the government announce manifesto-breaking tax rises.
Sir Keir and Rachel Reeves have refused to rule out raising income tax, national insurance, or VAT.
One senior figure told Sky News political editor Beth Rigby while a post-budget challenge is unlikely, it could come if next May’s elections – including in London and Wales – go badly for Labour.
Labour face a challenge from Reform on the right and parties like the Greens and Plaid Cymru on the left.
Read more: How No 10 plunged itself into crisis
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Starmer backs Streeting at PMQs
Also under pressure is the prime minister’s chief of staff, Morgan McSweeney, after Mr Streeting hit out at a “toxic culture” inside Number 10.
Sir Keir failed to say he had “full confidence” in him at PMQs in response to questions from Kemi Badenoch, but the prime minister’s political spokesperson later insisted to journalists that he does retain his backing.
Sky News understands Mr McSweeney was not discussed when Sir Keir and Mr Streeting spoke last night.
Labour chairwoman Anna Turley said the prime minister will investigate the source of the claims against the health secretary, telling ITV: “This is not what he wants to see and he’s determined to drive it out.”
The longest US government shutdown on record is finally set to conclude, with the House of Representatives voting through a contested funding bill on Wednesday.
The bill is now headed to US President Donald Trump, who is expected to sign it Wednesday night.
Both Democratic and Republican lawmakers staunchly debated the bill in the House of Representatives, ahead of a final vote that ultimately ended in favor of the bill, with 222 votes in favor and 209 against.
According to a statement obtained by Fox News Digital, US President Donald Trump has already indicated that he will sign the bill, which would officially end the shutdown. The BBC reports that Trump plans to sign the bill at 9:45 pm local time during a private dinner with business leaders.
“The Administration urges every Member of Congress to support this responsible, good faith product to finally put an end to the longest shutdown in history,” the statement read.
Related: SEC chair pledges no ‘lax enforcement’ on crypto under market structure
The funding bill would cover most of the government’s expenses through to the end of January next year.
The bill saw neither side of the political aisle willing to budge. Democrats were pushing to halt the bill, demanding more funding for healthcare and the cost-of-living crisis. Republicans were not willing to address these concerns in the bill, instead calling for the government to reopen and promising to address these issues afterward.
The government shutdown has halted the progress of crypto bills and also left a significant number of spot-crypto exchange-traded fund applications sitting on the Securities and Exchange Commission’s desk.
Meanwhile, other bills — such as the comprehensive market structure bill — that have made some progress even during the shutdown, will now be able to gain more traction.
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Bitwise chief investment officer Matt Hougan is more confident that crypto markets will boom in 2026, particularly as there hasn’t been a late-2025 rally yet.
Speaking to Cointelegraph at The Bridge conference in New York City on Wednesday, Hougan said a crypto market rally at the end of 2025 would have fit the four-year cycle thesis, meaning 2026 would mark the start of a bear market, similar to 2022 and 2018.
When asked to revise his prediction about whether the crypto market will boom in 2026, Hougan said: “I’m actually more confident in that quote. The biggest risk was [if] we ripped into the end of 2025 and then we got a pullback.”
Hougan said interest in the Bitcoin (BTC) debasement trade, stablecoins and tokenization would continue to accelerate, while arguing that Uniswap’s fee switch proposal introduced on Monday would reinvigorate interest in decentralized finance protocols in the coming year.
“I think the underlying fundamentals are just so sound,” Hougan said. “I think these earlier forces, institutional investment, regulatory progress, stablecoins, tokenization, I just think those are too big to keep down. So I think 2026 will be a good year.”
Bitcoin can still set a new high before year’s end
Hougan is still optimistic that Bitcoin, Ether (ETH) and Solana (SOL) can set new highs by 2026, but not as far as Maelstrom Fund chief investment officer Arthur Hayes and Fundstrat managing partner Tom Lee think.
The pair predicted a few months ago that Bitcoin and Ether could reach $250,000 and $15,000, respectively, before the end of the year.
Related: Altcoins aren’t dead; long live altcoins
Bitcoin is currently trading at $101,762 and Ether at $3,416, meaning that they would have to rise 145% and 340% to reach those lofty targets.
Crypto-native retail is “depressed”
Speaking of the current market pullback, Hougan blamed it on “crypto-native retail,” arguing that many early investors have “compressed upside” with large sales lately.
And those who expected a repeat of the 2020-2021 bull cycle have been given a harsh reality check, Hougan said.
“Crypto native retail is depressed, they were beaten down by FTX, they were beaten down by the memecoin debacle. They were beaten down by the altcoin season not arriving. They got hurt on the 10/10 liquidation, and I think they’re just sitting this one out.”
On the other hand, “TradFi retail” is thriving, according to Hougan, who pointed to the rise in spot crypto exchange-traded fund inflows over the last two years.
“Traditional retail, like my uncle, he’s moving into crypto, that part of retail is still alive,” said Hougan.
Magazine: Big Questions: Did a time-traveling AI invent Bitcoin?
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