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Paul Atkins is poised to replace Gary Gensler as chair of the SEC, sparking optimism in the crypto industry. Known for his understanding of cryptocurrencies, Atkins may initiate a "special study" on digital assets and potentially reshape regulatory frameworks to better align with industry needs. His appointment signals a possible end to the SEC's stringent crypto crackdowns.
Bitcoin has reached an all-time high of $100,000, sparking optimism among investors, but also raising concerns about potential corrections. Analyst Jane Adams warns against buying at this peak, citing historical patterns of sharp declines following significant rallies. In contrast, Coinbase CEO Brian Armstrong celebrates the milestone, emphasizing Bitcoin's long-term growth potential.
[Bloomberg](https://www.bloomberg.com) and [SEC]
Virgin Voyages has begun accepting Bitcoin for cruise bookings, aiming to attract tech-savvy travelers. Meanwhile, President-elect Donald Trump has nominated pro-crypto Paul Atkins as the next SEC chair, signaling potential regulatory changes. Bitcoin surged past $100,000 for the first time, driven by these developments, while Coinbase's CEO criticized law firms that oppose the crypto industry. Michael Saylor urged Microsoft to adopt Bitcoin, emphasizing its importance in the digital economy.
Pantera Capital's Bitcoin Fund has achieved a staggering 1,000x return since its 2013 launch, while Bitcoin recently faced a correction after nearing $100,000. Major acquisitions by firms like MicroStrategy and Jiva Technologies highlight ongoing institutional interest, despite bearish on-chain metrics suggesting potential consolidation ahead.
[Bloomberg](https://www.bloomberg.com) and [SEC]
In a significant political shift, the cryptocurrency industry funneled over $245 million into the recent elections, helping candidates like Bernie Moreno defeat long-standing incumbents and secure nearly 300 pro-crypto lawmakers in Congress. This strategic investment aimed to eliminate critics and bolster support for crypto-friendly regulations, particularly following the SEC's aggressive stance under Gary Gensler. With the backing of major crypto executives and PACs, the industry is poised to exert unprecedented influence over future legislative agendas.
Bitcoin surged past $88,000 in a record-setting rally, boosting related stocks like MARA Holdings and MicroStrategy, which saw significant gains. Meanwhile, traditional commodities like gold faced declines, while the transportation sector thrived, with the SPDR S&P Transportation ETF hitting a fresh high. Home Depot is set to report earnings, with its stock up 17% since its last results.
Coinbase CEO Brian Armstrong's wealth surged by over $2 billion following a 31% spike in the company's stock after the election, attributed to the success of pro-crypto candidates. Armstrong, a major investor in Coinbase, emphasized the election's significance for the crypto industry, while the company continues to advocate for a favorable regulatory environment amid ongoing legal challenges from the SEC. With substantial financial backing for pro-crypto PACs, Coinbase aims to influence future legislation and strengthen its position in Washington.
Crypto's political spending surged to over $245 million in the 2024 election cycle, with the largest super PAC, Fairshake, investing heavily in key races to support pro-crypto candidates like Steven Horsford in Nevada. Ads often focused on traditional issues rather than crypto, aiming to appeal to a broader voter base. Notably, $40 million targeted Ohio Sen. Sherrod Brown, a vocal critic of the industry, highlighting the strategic approach of crypto advocates in shaping electoral outcomes.
Brian Armstrong
People
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Paul Atkins nomination sparks optimism for crypto regulation reform
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18:35 09.12.2024
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12:51 09.12.2024
crypto market surges as bitcoin hits 100000 and new regulations emerge
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16:52 08.12.2024
bitcoin surges towards 100k as market dynamics shift and firms invest
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13:00 06.12.2024
ustin sun invests 30 million in trump's crypto venture world liberty financial
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01:11 26.11.2024
crypto funding reshapes political landscape as pro blockchain candidates emerge
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bitcoin surges to new highs as stocks rally across sectors
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23:47 11.11.2024
coinbase ceo brian armstrong gains over 2 billion after election success
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22:11 06.11.2024
crypto industry invests heavily in campaign ads to influence key elections
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