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SEC Commissioner Caroline Crenshaw, known for her critical stance on cryptocurrency, will not be reappointed after the Senate Banking Committee canceled her renomination vote. This decision follows significant backlash from the crypto industry, which has labeled her as "more anti-crypto than Gensler." With her future uncertain, the industry anticipates a more crypto-friendly successor in 2025, potentially leading to a favorable regulatory environment for digital assets in the U.S.
Ethereum spot ETFs have seen a significant net inflow of $145 million, reflecting growing institutional interest, with BlackRock’s ETHA leading at $3.365 billion. Grayscale’s ETH also contributed, increasing its net inflow to $616 million, while cumulative net assets for Ethereum spot ETFs reached $14.04 billion.In related news, President-elect Trump met with Crypto.com CEO Kris Marszalek to discuss establishing a U.S. Strategic Bitcoin Reserve, aimed at enhancing economic security and consolidating government-held Bitcoin. This initiative follows Trump's engagement with other crypto leaders and coincides with Bitcoin hitting an all-time high of $108,268.45.
President-elect Donald Trump met with Crypto.com CEO Kris Marszalek at Mar-a-Lago to discuss cryptocurrency policies, including a proposed national Bitcoin reserve. This meeting coincided with Crypto.com dropping its lawsuit against the SEC, aiming to collaborate with the new administration on regulatory frameworks. Trump has also made key appointments favoring the crypto industry, including David Sacks as his “AI and crypto czar.”
President-elect Donald Trump met with Crypto.com CEO Kris Marszalek at Mar-a-Lago to discuss potential crypto appointments and Bitcoin reserves. The meeting aligns with Trump's strategy to appoint crypto advocates to key financial positions, aiming to establish clear regulations for the industry.As Trump transitions, he has already nominated Paul Atkins as SEC Chairman and is expected to announce the CFTC chair soon. Meanwhile, Crypto.com has filed a lawsuit against the SEC, challenging its jurisdiction over crypto assets and seeking clarity on regulatory oversight.
Bitcoin has surged to new heights, breaking above $105,000, driven by President-elect Donald Trump's influence on the markets. The cryptocurrency has gained over 140% in the past year, with potential national Bitcoin reserves being considered by several countries. Trump's administration is expected to focus on the crypto market, with proposals for tax policy changes and the appointment of a "White House AI & Crypto Czar" signaling a serious commitment to understanding digital assets' economic opportunities.
Catzilla ($CATZILLA) is a cat-themed meme token currently in presale, offering early investors a chance to secure tokens at attractive prices. With a unique narrative inspired by iconic cat memes and Japanese kaiju culture, it features a reward system that includes Meow Points for investments and referrals. The project aims to dominate the meme coin market through community engagement, gamification, and strategic partnerships, positioning itself as a leading opportunity in the rising trend of feline-inspired cryptocurrencies.
The Senate Banking Committee is set to vote on SEC Commissioner Caroline Crenshaw's renomination, a decision that has sparked fierce opposition from the crypto industry due to her stringent regulatory stance. Critics argue her confirmation could hinder innovation in digital assets, while supporters claim it would maintain a balanced regulatory environment. The outcome remains uncertain as the Senate navigates a packed legislative calendar, with potential implications for the SEC's future approach to cryptocurrency regulation.
Donald Trump’s transition team is considering consolidating or eliminating key banking regulators, which could create a more favorable environment for the cryptocurrency market. This potential reform includes merging the FDIC, OCC, and Federal Reserve, aiming to reduce regulatory burdens that some view as stifling innovation. As Trump prepares to appoint a new FDIC leader amid criticism of current oversight practices, the crypto sector is rallying behind pro-crypto candidates, marking a significant shift in regulatory dynamics that could enhance operational efficiency and investor confidence.
A Senate committee vote to re-nominate SEC Commissioner Caroline Crenshaw has been postponed, leaving her future uncertain. The delay, attributed to Republican opposition, raises the possibility of a Republican majority at the SEC following the upcoming Trump administration. Current SEC Chair Gary Gensler will depart on January 20, 2025, and Crenshaw's critics within the crypto industry are vocal about their desire for her removal.
Bitcoin's volatility decreased in Q3, with the Bitcoin Volatility Index peaking at 2.44% in November, down from 3.25% in August. Coinbase's stock has nearly doubled this year, reaching $310.52, driven by increased trading volumes and a favorable regulatory outlook under the new administration. Analysts predict further growth, with price targets for Coinbase shares rising to $420, fueled by expectations of record trading volumes in December.
Brian Armstrong
People
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