Bitcoin (BTC/USD) is nearing its all-time high, fueled by positive market conditions and institutional interest. Conversely, XRP (XRP/USD) faces uncertainty due to the SEC’s appeal against Ripple. Experts predict a bullish future for Bitcoin, while XRP’s trajectory hinges on the regulatory outcome.
Bradley Tusk, CEO of Tusk Ventures, has launched a scathing critique of SEC Chair Gary Gensler’s handling of cryptocurrency regulations. He argues that Gensler’s approach is stifling innovation and creating uncertainty in the crypto space. Tusk, who holds significant stakes in major crypto companies, believes a change in leadership at the SEC could be a game-changer for the industry.
Billionaire entrepreneur Mark Cuban, a prominent supporter of Vice President Kamala Harris, has expressed his dissatisfaction with the SEC’s approach to crypto regulation, fueling speculation about his own potential candidacy for the position. Cuban’s comments have sparked a wider discussion on the future of crypto regulation under a potential Harris presidency and the influence of powerful voices like Cuban on such appointments.
Canary Capital has joined Bitwise Asset Management in seeking SEC approval for an XRP ETF, adding to the growing interest in the cryptocurrency. However, the SEC’s ongoing legal battle with Ripple Labs casts a shadow over the future of XRP ETFs in the U.S.
Robinhood Markets, Inc. (HOOD) shares are trading higher today after the company announced its first investor day, set for December 4th in New York City. The event will feature a discussion of the company’s vision for the next decade and a Q&A session with investors and analysts. Additionally, recent news regarding a potential leadership change at the Securities and Exchange Commission (SEC) has sparked interest in Robinhood. This news, coupled with positive technical indicators, suggests a potential bullish outlook for HOOD stock.
Cassava Sciences has settled SEC charges related to misleading statements about its Alzheimer’s drug, simufilam. The company paid $40 million and is now focusing on the drug’s development. HC Wainwright upgraded Cassava’s stock to ‘Buy’ due to positive expectations for the upcoming clinical trial results.
Cryptocurrency index fund manager Bitwise Asset Management has filed for an XRP ETF, potentially opening up a new avenue for investors to access the digital asset in the US market. The filing follows the SEC’s approval of several Bitcoin and Ethereum ETFs earlier this year.
Cassava Sciences, its founder, and former executives have agreed to pay over $40 million to settle SEC charges alleging they misled investors about the results of a Phase 2 trial for their Alzheimer’s drug, simufilam. The SEC found that the company manipulated trial data to falsely suggest the drug’s effectiveness. The settlement includes penalties and bans on serving as officers or directors for certain individuals.
SEC Chair Gary Gensler emphasized the critical need for investor protection in the cryptocurrency industry, stating that without it, the sector will struggle to survive. He also clarified that Bitcoin is not classified as a security, providing a crucial point of clarity amidst regulatory debates.
Senate hopeful John Deaton, known for his support of Ripple Labs in its legal battle with the SEC, has praised the efforts of Mark Cuban and Anthony Scaramucci in speaking out against SEC Chair Gary Gensler’s stance on cryptocurrencies. Deaton, who is challenging incumbent Senator Elizabeth Warren, believes Gensler’s policies are harmful to American entrepreneurs and consumers, and he has been vocal about his opposition to the SEC’s approach to digital assets.
