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Digital assets identified as unregistered securities by the US Securities and Exchange Commission are experiencing a surge following Chair Gary Gensler's announcement of his planned departure in January. Gensler, a vocal critic of the crypto industry, has faced opposition from crypto supporters, including Donald Trump, who pledged to remove him. His exit comes amid ongoing scrutiny of compliance and practices within the digital-asset sector, which has faced significant challenges in recent years.
Bitcoin is nearing $100,000 amid rising optimism as SEC Chair Gary Gensler announces his resignation effective January 20, paving the way for a Wall Street-friendly successor under President-elect Trump. Meanwhile, Alphabet shares dropped 4% following a DOJ proposal to split off the Chrome browser, and Citadel's Ken Griffin hinted at selling a minority stake in the future. Additionally, Archegos founder Bill Hwang received an 18-year sentence for fraud related to the firm's 2021 collapse.
Bitcoin approached the $100,000 mark, trading at $98,550, fueled by optimism over favorable US regulations and increased investor interest following President-elect Donald Trump's support for cryptocurrency. The market has surged by approximately $1 trillion since Trump's election win, with expectations that SEC enforcement actions will diminish after Gary Gensler steps down on January 20.
U.S. Securities and Exchange Commission Chair Gary Gensler will resign on January 20, coinciding with the inauguration of President-elect Donald Trump. His tenure was marked by significant confrontations with Wall Street and the cryptocurrency sector.
Bitcoin is nearing the $100,000 mark as SEC Chairman Gary Gensler plans to resign at the end of Biden's term, potentially paving the way for a more crypto-friendly regulatory environment under Donald Trump. The anticipated approval of Bitcoin spot ETFs has further fueled investor optimism, suggesting a historic price milestone could be within reach.
SEC Chair Gary Gensler will resign on January 20, allowing President-elect Donald Trump to appoint a successor. Gensler's tenure, marked by a rigorous regulatory approach, included increased disclosures for companies and disputes with the crypto industry and Elon Musk. Trump's administration may reshape the SEC further, with additional commissioner terms expiring soon.
Gary Gensler, the Chair of the SEC, is set to resign on January 20. He acknowledged the agency's mission-driven focus on protecting investors, facilitating capital formation, and ensuring market integrity, despite facing significant pushback from Wall Street and the crypto sector.
Bitcoin is experiencing a resurgence, with expectations that President-elect Donald Trump will position the U.S. as the "crypto capital of the world." However, regulators must implement safeguards to prevent potential pitfalls, as many crypto enterprises remain speculative and disconnected from real-world value. Under President Biden, the SEC has taken a hard stance against major trading platforms like Binance and Coinbase, aiming to enforce compliance with securities laws.
Bitcoin remains above the $90,000 mark as MicroStrategy invests an additional $4.6 billion to acquire 51,780 BTC, bringing its total holdings to 331,200 BTC. Investors are closely monitoring potential personnel changes in the Trump administration that could influence crypto regulations.
Bitcoin's price has surged above $91,000, approaching its record high of $93,500, with the psychological barrier of $100,000 in sight. As liquidity may decrease over the weekend, increased volatility is expected, influenced by private investors and potential changes in U.S. regulatory attitudes under President-elect Donald Trump. Investors are anticipating strategic moves that could favor the cryptocurrency market, including possible personnel changes at the SEC.
Gary Gensler
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