Bitcoin is nearing the $100,000 milestone amidst growing optimism following the election of President Donald Trump.

This surge coincides with the announcement of Securities and Exchange Commission (SEC) Chair Gary Gensler's resignation, effective January 20. Gensler, who has been in this position since 2021, had the option to continue until 2026 but chose to leave early. This paves the way for a new SEC leader who is expected to have closer alignment with Wall Street and cryptocurrency interests.

In other news, Alphabet Inc. experienced a 4% drop in its shares after the Department of Justice proposed a potential separation of its Chrome browser from the company. Furthermore, Ken Griffin, the founder of Citadel, has expressed plans to sell a minority stake in the firm in the near future. Lastly, Bill Hwang, the founder of Archegos Capital, has been sentenced to 18 years in prison for fraud related to the collapse of his firm in 2021.