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Crypto industry execs approve of Trump’s pick to lead SEC

Executives from Bitwise, Ripple, and Coinbase voiced their support for former SEC commissioner Paul Atkins to lead the agency after Gary Gensler’s departure.

Many executives representing high-profile cryptocurrency companies in the United States have weighed in on President-elect Donald Trump’s pick for the next chair of the Securities and Exchange Commission (SEC), and the feedback has mostly been positive.

In a Dec. 5 Bloomberg interview, Bitwise Asset Management general counsel Katherine Dowling said former SEC commissioner Paul Atkins was a “great choice” to lead the regulatory body.

She hinted that he could be less “antagonistic” to members of Congress than Gary Gensler, the current SEC chair who will resign on Jan. 20.

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XRP Market Update: Price Teeters Between $2.35 and $2.50 Resistance

Bitcoin (BTC) Smashes Through $100,000 Following Trump’s Pick of Paul Atkins for SEC Chair

Bitcoin (BTC) Smashes Through 0,000 Following Trump’s Pick of Paul Atkins for SEC Chair

Bitcoin (BTC) shattered the $100,000 milestone for the first time after President-elect Donald Trump announced his new pick to chair the U.S. Securities and Exchange Commission (SEC). According to a new report by AP News, Trump has picked former SEC Commissioner and current Patomak Partners chief executive Paul Atkins to head the regulatory agency. As […]

The post Bitcoin (BTC) Smashes Through $100,000 Following Trump’s Pick of Paul Atkins for SEC Chair appeared first on The Daily Hodl.

XRP Market Update: Price Teeters Between $2.35 and $2.50 Resistance

Bitcoin is a competitor to gold, not the US dollar, reiterates Fed’s Powell

US Federal Reserve Chair Jerome Powell also dismissed the idea that people see Bitcoin as a symbol of a lack of faith in the US dollar.

United States Federal Reserve Chair Jerome Powell has reiterated his view that Bitcoin is a direct competitor to gold and isn’t a threat to the US dollar.

“People use Bitcoin as a speculative asset. It’s just like gold, only it’s virtual, it’s digital,” Powell said at The New York Times-hosted DealBook Summit in New York on Dec. 4.

The Federal Reserve Chair has made these comments before, comparing Bitcoin (BTC) to gold during an event hosted by the Bank for International Settlements in March 2021 when Bitcoin was trading at just $58,200.

Cryptocurrencies like Bitcoin are highly speculative, and “they’re not backed by anything,” Powell said at the time.

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XRP Market Update: Price Teeters Between $2.35 and $2.50 Resistance

Trump’s likely SEC pick fuels RSR token rally to multiyear high

The community has linked the 88% spike in the price of the Reserve Rights token to Donald Trump, who is likely to pick Paul Atkins as the next SEC chair.

The Reserve Rights (RSR) token saw a sharp increase in value as speculation built around former United States President Donald Trump’s expected nomination of a new US Securities and Exchange Commission chair.

Some members of the cryptocurrency community have linked the token’s rise to rumors that Trump may appoint former SEC Commissioner Paul Atkins, who has previously advised the Reserve Rights Foundation, the entity behind the RSR token.

Source: Henshaw Udowo

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XRP Market Update: Price Teeters Between $2.35 and $2.50 Resistance

Crypto Biz: A crypto policy expert may run the SEC

This week’s Crypto Biz explores Singapore Gulf Bank’s plans to acquire a stablecoin firm, Binance delisting tokens, Cantor Fitzgerald’s stake in Tether and the first DOGE ETP.

The future of cryptocurrency regulation in the United States could see a significant shift as Paul Atkins, a former commissioner of the Securities and Exchange Commission known for his pro-innovation views, emerges as a frontrunner to lead the agency under a new administration at the White House. 

Atkins previously served as commissioner and staffer under two chairs, Richard Breeden and Arthur Levitt, and is known as an expert in securities law and a balanced regulator. Most importantly, he holds a strong background in digital assets. 

According to his profile on Patomak Global Partners, where he serves as CEO, Atkins has been at the core of industry efforts to develop best practices for digital asset issuances and trading platforms since 2017. He co-chairs the Token Alliance, an initiative by the Chamber of Digital Commerce aimed at shaping policy for tokenized networks and digital asset issuers.

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XRP Market Update: Price Teeters Between $2.35 and $2.50 Resistance

Ether ETFs are beating their Bitcoin counterparts amid recent ETH rally

Spot Ether ETFs saw about $225 million in net inflows over four recent trading days, which was $190 million more than the spot Bitcoin ETFs.

Ether exchange-traded funds (ETFs) have seen more money from investors than their Bitcoin counterparts since Nov. 22, as Ethereum’s decentralized finance (DeFi) ecosystem scored a key victory in a US court this week.

Spot Ether ETFs took in $224.9 million in net inflows over the four trading days between Nov. 22-27, while spot Bitcoin ETFs tallied $35.2 million in net inflows due mainly to a heavy day of outflows on Nov. 25, Farside Investors data showed.

This followed an almost 8% Ether (ETH) price rally to more than $3,590 over the past seven days.

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XRP Market Update: Price Teeters Between $2.35 and $2.50 Resistance

‘Crypto Dad’ squashes rumors that he could replace Gensler as SEC Chair

Former CFTC Acting Chair Chris Giancarlo said he’s “already cleaned up earlier Gary Gensler mess,” shooting down speculation he’d replace the SEC Chair.

Chris Giancarlo, the former Commodity Futures Trading Commission Chair, has squashed rumors that he’s in the mix to take over Gary Gensler as head of the Securities and Exchange Commission.

“I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess [at the CFTC] and don’t want to have [to] do it again,” Giancarlo, widely known as “Crypto Dad,” said in a Nov. 14 X post. 

Giancarlo was a CFTC commissioner between June 2014 and April 2019, joining a few months after Gensler left his over four-and-a-half-year tenure as chair of the agency in January 2014. Giancarlo was later appointed as the CFTC’s Acting Chair from January to August 2017.

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XRP Market Update: Price Teeters Between $2.35 and $2.50 Resistance