Ripple CEO Brad Garlinghouse revealed that the cryptocurrency-focused super PAC, Fairshake, was created in direct response to the SEC’s aggressive stance under Gary Gensler. Ripple donated $45 million to the PAC, which significantly influenced the 2024 election cycle.
Palantir’s Joe Lonsdale lauded President-elect Trump’s choice of Paul Atkins to head the SEC, contrasting Atkins’ approach with Gary Gensler’s allegedly unfair tactics towards the cryptocurrency industry. This follows a pro-crypto wave in the recent election, fueling optimism about a more favorable regulatory environment.
Bitcoin has hit a record high of over $103,800, fueled by Donald Trump’s pro-crypto stance, key appointments, and growing global interest. This follows a tumultuous period for the cryptocurrency market, marking a significant turnaround.
President-elect Donald Trump’s nomination of Paul Atkins to chair the SEC sends shockwaves through the crypto industry as Bitcoin surpasses $100,000 for the first time. Atkins’ pro-crypto stance contrasts sharply with the outgoing chair’s aggressive regulatory approach, sparking both celebration and concern.
Bitcoin and other major cryptocurrencies experienced a significant price surge following Federal Reserve Chair Jerome Powell’s positive remarks on Bitcoin and the nomination of Paul Atkins as the new SEC Chair. This rally saw Bitcoin break the $99,000 mark and Ethereum hit a six-month high, fueled by investor optimism.
A recent Bybit and Block Scholes report reveals Ethereum’s impressive outperformance against Bitcoin across key metrics. This shift is attributed to positive market sentiment following the announcement of SEC Chair Gary Gensler’s departure and growing institutional interest in Ethereum.
Former CFTC Chairman Chris Giancarlo urges a larger CFTC role in regulating cryptocurrencies, contrasting its approach with the SEC’s. While he highlights the CFTC’s potential, concerns about resource allocation and potential regulatory overlap are raised.
President-elect Donald Trump’s transition team is reportedly considering Paul Atkins, a prominent figure in financial regulation and a known advocate for digital assets, to lead the U.S. Securities and Exchange Commission (SEC). This potential appointment signals a significant shift in the SEC’s regulatory approach towards cryptocurrency and fintech.
United Parcel Service (UPS) will pay a $45 million penalty for misrepresenting earnings due to improper valuation of its Freight division. Separately, BIT Mining agreed to a $4 million SEC fine and a $10 million DOJ fine for bribery. These cases highlight the SEC’s crackdown on accounting fraud and bribery in the business world.
The Securities and Exchange Commission (SEC) has announced a record-breaking $8.2 billion in financial penalties for fiscal year 2024, a 67% increase from the previous year. This surge is largely attributed to a massive settlement with Terraform Labs and reflects a tough stance on cryptocurrency regulation under Chair Gary Gensler, who is set to leave office in January.
