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The financial sector faces renewed pressure for deregulation as Donald Trump’s potential return to the White House raises concerns about the rollback of post-2008 reforms. Lobbyists have already influenced significant regulatory easing under President Biden, with the Basel III reforms being notably diluted. Experts warn that such relaxed capital rules could destabilize the banking system, as evidenced by recent crises involving major banks like Silicon Valley Bank and Credit Suisse.
Crypto markets are surging, driven by optimism surrounding the new US administration's pro-crypto policies, with Bitcoin reaching an all-time high of over $93,000. Asia, particularly Hong Kong and Singapore, is poised to benefit from this momentum, with increased licensing and trading activity in digital assets. However, some experts remain skeptical, viewing crypto as a speculative trade rather than a stable investment.
Annamite Capital, co-founded by former Citadel executive Tom Geary and Euith CEO Lucas Gaylord, is set to launch in January 2025, focusing on digital assets. The firm has already achieved impressive returns, with net gains of 27.8% in its U.S. dollar share class since March. With a more favorable regulatory environment anticipated under Donald Trump's presidency, Annamite aims to enhance legal and technical infrastructure to mitigate risks in the crypto market.
Gary Gensler, the SEC Chair, expressed pride in his tenure during a recent speech, highlighting key accomplishments such as new disclosure rules and market structure reforms. He defended the SEC's approach to crypto regulation, emphasizing the need for registration and oversight to protect investors from significant harm. Gensler's remarks hinted at a possible transition, though he did not announce his resignation.
Following Donald Trump's election victory, US stocks surged, with the S&P 500 closing above 6000 points and banking stocks seeing significant gains. Trump's protectionist policies are expected to benefit small businesses and the cryptocurrency sector, with bitcoin reaching over $87,000. However, concerns over renewed US-China trade tensions arise as Trump threatens tariffs, prompting mixed expert opinions on the potential for a trade war.
Donald Trump has publicly criticized Jerome Powell, the chairman of the US Federal Reserve, and expressed intentions to influence monetary policy, raising concerns about the Fed's independence. While Trump has suggested firing Powell and building a Bitcoin reserve, experts warn that such actions could harm the US economy. The likelihood of Trump successfully undermining the Fed's independence remains low, as Powell's term extends until May 2026, and significant changes would require legal adjustments.
Fintechs Upstart and Toast surged following strong earnings reports, with Upstart's stock jumping 46% and Toast rising 14%. Upstart's revenue increased 20% to $162 million, while Toast's adjusted earnings forecast exceeded expectations. Meanwhile, Coinbase shares soared 48% amid a favorable political climate for crypto, while Robinhood rose 27%. However, Block's stock fell slightly after disappointing revenue results.
With Donald Trump returning to the White House, the crypto industry anticipates a surge in digital-asset mergers, fueled by candidates aligned with the sector winning congressional seats. Advisors expect increased activity next year, particularly if Trump acts on his promise to remove SEC Chair Gary Gensler, who has enforced strict regulations on the industry, paving the way for more favorable legislation.
Bitcoin reached a record high following the US election and the Federal Reserve's recent interest rate cut, which adjusted rates to 4.50-4.75%. Fed Chairman Jerome Powell confirmed he would remain in his position despite potential pressure from Trump, who may influence crypto regulations if he replaces SEC Chairman Gary Gensler. Investors are optimistic about the possibility of strategic Bitcoin government reserves, although plans remain uncertain.
The potential exit of SEC Chair Gary Gensler following Donald Trump's presidential victory is fueling a surge in cryptocurrencies previously labeled as unregistered securities by the agency. This shift hints at a significant rollback of crypto enforcement under a Trump administration.
Gary Gensler
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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