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Faryar Shirzad, Coinbase's chief policy officer, anticipates swift cryptocurrency regulation in the U.S. following Donald Trump's election, citing a pro-crypto Congress and president. Key legislation, including the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act, is progressing, with hopes for passage in 2025. As Trump prepares to replace SEC Chair Gary Gensler, Shirzad expresses optimism for a change that aligns with the crypto industry's interests.
Bitcoin is poised for a nearly 40% gain in November, nearing the $100,000 mark, following Donald Trump's election victory, which has reinvigorated the cryptocurrency market. The month is set to be Bitcoin's best since February, driven by strong ETF inflows and bullish investor sentiment.As Trump’s presidency is expected to legitimize the crypto industry, factors like reduced supply from the recent halving and increasing institutional demand are anticipated to propel Bitcoin's price further, with bulls predicting it could reach $100,000 by the end of 2024.
President-elect Donald Trump’s transition team has interviewed Paul Atkins, a seasoned financial regulator, as a potential successor to SEC Chair Gary Gensler. Atkins is considered a leading candidate for the position, with a decision expected soon.
Bitcoin has reached an all-time high just under $100,000, driven by a surge in interest following Donald Trump's election victory and the resignation of SEC Chair Gary Gensler, signaling a potentially more favorable regulatory climate. Despite this rally, altcoins struggle to keep pace, with lingering concerns from the 2021 crypto bubble affecting the broader market.
President-elect Donald Trump is consulting the crypto industry on his selection for the new SEC chair, with top contenders including Paul Atkins and Brian Brooks. As he prepares to overhaul SEC leadership, Trump has pledged to support the crypto sector, promising to create a favorable regulatory environment and appoint a crypto czar to guide policy. The crypto industry anticipates a significant shift in regulatory dynamics following the resignation of current SEC chair Gary Gensler.
The crypto market experienced a significant downturn, shedding $182 billion in a single day as Bitcoin fell 6.2% to $92,446.38, moving further from the $100,000 mark. Other major cryptocurrencies also declined, with Ether down 4.2% and Solana's token dropping 8.9%. Despite this drop, Bitcoin has surged over 30% since the U.S. presidential election on November 5, fueled by optimism surrounding Donald Trump's pro-crypto policies and the anticipated resignation of SEC Chair Gary Gensler on January 20, coinciding with Trump's inauguration.
[Bloomberg](https://www.bloomberg.com) and [SEC]
Bitcoin's ascent towards the $100,000 mark has stalled, trading around $98,243.25 after a significant rally post-U.S. elections. Analysts attribute this pause to profit-taking by long-term holders and a recent surge in selling pressure, while some anticipate a potential correction amid high leverage in the market. Despite these challenges, there remains optimism for future gains, bolstered by a tightening supply and ongoing pro-crypto sentiment from political figures.
Bitcoin remains below the $100,000 mark, causing tension among investors, with a recent price dip to under $96,000. The resignation of SEC Chairman Gary Gensler may provide relief, as investors anticipate a more crypto-friendly successor. Upcoming Fed minutes and US price data could influence market movements, with profit-taking expected as the psychological barrier of $100,000 looms large.
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.
Gary Gensler
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
coinbase executive anticipates swift crypto regulation under trump administration
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