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The Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is under scrutiny for alleged noncompliance with federal recordkeeping requirements. This issue has sparked controversy in the crypto world due to the potential implications on regulatory transparency and accountability. (Read More)
United States Senator Ted Cruz has said he remains “incredibly bullish on bitcoin” which he described as the “alpha in the crypto sphere.” According to Cruz, people are attracted to bitcoin because they see it as a hedge against inflation and also as an “important check” against government spending. Bitcoin Is Still the ‘Most Dominant’
The post US Senator Ted Cruz: ‘I Like BTC for the Same Reason the Chinese Communist Govt Doesn’t Like BTC’ appeared first on BTC Ethereum Crypto Currency Blog.
The chairman of the State Duma Committee on the Financial Market says that an agreement on the BRICS currency can be reached in 2023 as BRICS nations ramp up their de-dollarization efforts to shift away from U.S. dollar reliance. “By linking its economy and currency to politics, the U.S. is practically undermining the foundations of [...]
The post Russian Official Expects Agreement on BRICS Currency This Year appeared first on Crypto Breaking News.
Federal Reserve Chairman Jerome Powell engaged with the Senate Banking Committee, signaling that the U.S. is just beginning to contemplate the introduction of a central bank digital currency (CBDC). Powell Assures No Direct Fed Accounts in CBDC Plans, Seeks Congressional Go-Ahead In his conversation with the Senate Banking Committee, Fed Chair Jerome Powell explored the [...]
The post Fed Chair Powell Eases CBDC Concerns: US Far From Direct Fed Accounts, Emphasizes Need for Congressional Approval appeared first on Crypto Breaking News.
Bitcoin has entered a period of relative calm, with its price oscillating between $81,000 and $89,000 over the past several sessions. This newfound stability has reassured many traders, as the odds of a sharp decline below $80,000 have diminished significantly. Selling pressure is starting to ease, buyers are gradually stepping in, and the market appears to be in an accumulation phase, which is often a precursor to another rally. Even with selling pressure easing, there’s still a risk of breakdown below $80,000 at any moment. However, dormer BitMEX CEO and renowned crypto investor Arthur Hayes recently shared a bold projection that Bitcoin will reach $110,000 before retesting the $76,500 price level. Arthur Hayes Predicts $110,000 Will Come Before Any Pullback to $76,500 As it stands, Bitcoin is closer to $75,000 than it is to $110,000, but popular crypto commentator Arthur Hayes believes the leading cryptocurrency will reach the latter before the former. A climb to $110,000 will translate to a new all-time high for Bitcoin, as its current peak is $108,786, set in January. Related Reading: Crypto Pundit Arthur Hayes Says Be Patient After Bitcoins 36% Crash, Reveals Possible Bottom At present, Bitcoin is trading about 20.3% below that high, and concerns about a deeper correction are valid. The possibility of a pullback to $76,500 is still a genuine concern, especially since that price sits just under this months local low, and it can be quickly retested before another bounce upwards. Hayes’ comments on social media platform X offered both a price target and a macroeconomic rationale. Hayes stated, I bet $BTC hits $110k before it retests $76.5k, clarifying that the momentum of the market and shifts in monetary policies are more likely to push the Bitcoin price up rather than another correction towards $76,500. He went further to suggest that once Bitcoin crosses $110,000, it may not look back until it starts approaching $250,000. This price target resonates with outlooks from other crypto analysts. Incoming Shifts In Monetary Policies Central to Hayes’ reasoning is the Federal Reserves changing stance on liquidity. He pointed out that the Fed is transitioning from quantitative tightening (QT) to a new phase of quantitative easing (QE), particularly in the Treasury markets. Although the Fed has been engaged in quantitative tightening (QT) since June 2022, there are now discussions about pausing or slowing down the balance sheet runoff. According to Reuters, some analysts predict a shift towards a more QE-like approach. Related Reading: Bitcoin Price Forecast: LTF Head And Shoulders Pattern Predicts Crash Heres The Target This shift could potentially inject more liquidity into the financial system, pushing assets like Bitcoin to higher price levels. Hayes also dismissed concerns about inflation, stating that the Fed Chairman appears to view it as “transitory inflation.” At the time of writing, Bitcoin is trading at $86,600, having traded at an intraday high of $88,713 in the past 24 hours. Featured image from Unsplash, chart from Tradingview.com
United States President Joe Biden said on Twitter that he is “firmly committed” to holding those responsible for the Silicon Valley Bank and Signature Bank collapse “fully accountable.”
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says the securities regulator is working with the Commodity Futures Trading Commission (CFTC) on crypto regulation. In addition, he said the SEC is “trying to work with various crypto platforms, exchanges, lending platforms” to ensure investor protection. SEC Chair Gary Gensler on Crypto […]
The US banking authorities are exploring ways for banks to hold the flagship crypto Bitcoin in the country. This development ...
Read Monday's breaking news in the daily digest!
FSC Chairman Koh Seung-boem spoke at the inauguration ceremony today. He stated that “We will minimize the damage to investors
Economist Peter Schiff says Federal Reserve Chairman Jerome Powell taking the March rate cut off the table “may have actually raised the probability that the Fed will indeed serve up the first rate cut in March.” Moreover, Schiff explained that the Fed’s job is actually to create inflation and then pretend to fight it. “The [...]
The post Economist Peter Schiff Discusses Likelihood of a Fed Interest Rate Cut in March appeared first on Crypto Breaking News.
In a recent development, an advisor to former President Trump has been reported to be meeting regularly with the Federal Reserve Chairman. This ongoing communication between a political figure and the head of the central banking system has raised eyebrows and sparked speculation about potential implications. The nature of these meetings is unclear, leaving many [...]
The post Regular Meetings Between Trump Administration Advisor and Federal Reserve Chairman Boost Policy Coordination appeared first on Crypto Breaking News.
A U.S. lawmaker has announced that he is introducing legislation to remove the Securities and Exchange Commission (SEC) chairman in order to “correct a long series of abuses.” The SEC, under Chair Gary Gensler, has been heavily criticized for its enforcement-centric approach to regulating the crypto industry. Lawmaker Seeks to Remove SEC’s Chairman U.S. Congressman
The post US Lawmaker Introducing Legislation to Remove SEC Chairman Due to ‘Long Series of Abuses’ appeared first on BTC Ethereum Crypto Currency Blog.
U.S. Securities and Exchange Commission Chairman Gary Gensler has stated that the regulator is “disappointed” with the SEC v. Ripple ruling on XRP regarding retail investors. “We are still looking at it and assessing that opinion,” he affirmed. Gensler also reiterated the SEC’s commitment to enforcing regulations on the crypto industry and ensuring compliance among [...]
The post SEC ‘Disappointed’ With XRP Ruling on Retail Investors — Chair Gensler Hints at More Crypto Industry Enforcement appeared first on Crypto Breaking News.
Warren Davidson, the Republican congressman who first introduced the legislation in mid-April, has filed the SEC Stabilization Act to remove Gary Gensler, the current chair of the U.S. Securities and Exchange Commission (SEC). Davidson insists the act aims to safeguard U.S. capital markets “from a tyrannical chairman.” Legislation Filed to Remove SEC Chair Gensler in [...]
The post Republican Congressman Seeks to Oust SEC Chair Gensler With SEC Stabilization Act appeared first on Crypto Breaking News.
Securities and Exchange Commission (SEC) Chairman Gary Gensler has warned that the U.S. Treasury defaulting on its debt obligations “would have very significant, hard to predict, and likely lasting effects on investors, issuers, and markets alike.” Gensler stressed: “We’ve already seen an effect in the pricing and liquidity of short-dated Treasury bills and continue to [...]
The post SEC Chair Warns US Default Would Have ‘Significant’ and ‘Lasting Effects’ on Investors, Markets appeared first on Crypto Breaking News.
On Thursday, the XRP price soared to $1.41, marking its highest trading value in over three years. This surge coincides with a shifting regulatory landscape in the United States, spurred by the anticipated administration of President-elect Donald Trump. During his campaign, Trump pledged to position America as the “crypto capital of the world,” a promise that is beginning to resonate with market participants even before his inauguration on January 20, 2025. Gensler Sets Last Day At SEC For January 20 In recent weeks, the cryptocurrency market has seen a notable uptrend, with Bitcoin leading the charge and achieving consecutive all-time highs. This momentum is in part a response to the positive sentiment surrounding Trump’s pro-crypto promises, which is expected to facilitate a more favorable environment for digital assets. Related Reading: FTX Provides Details On $16 Billion Distribution Timeline For Customers And Creditors Central to this optimism is the expected departure of Gary Gensler, the current chair of the US Securities and Exchange Commission (SEC). Gensler has been criticized for fostering an unclear regulatory environment that many argue has stifled the growth of cryptocurrencies in the US. For XRP and Ripple Labs, this scrutiny has been particularly pronounced over the past four years under the Biden administration. Trump previously vowed to remove Gensler from his position, a move that many in the crypto community view as a necessary step toward clearer regulations. Yet, on the same day as Trump’s anticipated inauguration, Gensler confirmed that January 20, 2025, will be his last day at the SEC. His resignation preempts what many experts speculated could be a contentious conflict if he remained in office while Trump sought to replace him. XRP Price Surges Nearly 30% In 24 Hours This shift in the regulatory landscape in the US has contributed to a clearer outlook for digital assets, as reflected in XRP price movements. In the past 24 hours alone, XRP recorded gains of nearly 30%, and over the past week, it has increased more than 70%. Crypto analyst Ali Martinez recently shared his views on X (formerly Twitter), stating that Gensler’s exit could be highly beneficial for both Ripple Labs and the XRP price, which he believes is now targeting $2. Related Reading: Ethereum Sees Neutral Netflow On Binance: What Does This Signal? Another analyst, CrediBull, echoed this sentiment, noting that XRP’s monthly Relative Strength Index (RSI) is approaching overbought territory for the first time in three years. The analyst emphasized that a higher RSI typically indicates stronger momentum and bullish prospects for the asset, absent any bearish divergences. CrediBull suggested that the next significant target for XRP is $2, with aspirations for new all-time highs thereafter. Currently, the token’s all-time high stands at $3,040, which was reached nearly seven years ago in January 2018. This means that the XRP price could be in for a massive 150% uptrend in the coming months. Featured image from DALL-E, chart from TradingView.com
A potential shift in crypto regulation could be in the works as the US Securities and Exchange Commission (SEC) Chairman Gary Gensler hints at a possible resignation following President-elect Donald Trump’s recent victory on November 5. SEC Head Gensler Drops Resignation Clue In a recent statement to SEC staff, Gensler hinted at a possible resignation, which led to further discussions about his future as the agency’s head. His remarks, which carried a tone reminiscent of a farewell, expressed gratitude for the opportunity to serve alongside his colleagues, emphasizing the importance of their work in maintaining the integrity of US capital markets. Related Reading: Crypto Analyst Predicts Major Price Crash For Shiba Inu, But Its Not All Bad News The SEC chairman, who has long been criticized for his approach to the crypto industry, also dedicated a portion of the letter to his mom and dad, concluding, Ive been proud to serve with my colleagues at the SEC who work day in and day out to protect American families on the highways of finance. Despite the absence of any official confirmations from either the SEC or Gary Gensler regarding his future, the suggestive tone of his letter has sparked anticipation among crypto investors, hinting at the likelihood of his resignation. Policy Shift Towards Crypto-Friendly US Gensler’s leadership has been marked by numerous enforcement actions, lawsuits and Wells Notices against major players in the crypto space, including Binance, Coinbase and the most notorious case against Ripple Labs, while failing to provide a clear regulatory framework for digital assets. Related Reading: Buy Dogecoin Now Or Wait? Analyst Points To Key Technical Indicator The anticipation surrounding Genslers potential exit is compounded by Trumps promises to create a more favorable environment for cryptocurrencies, positioning the US as the “crypto capital of the world.” Trump’s administration is expected to prioritize policies that support innovation and growth in the digital asset sector, contrasting sharply with Gensler’s regulatory stance. Featured image from DALL-E, chart from TradingView.com
The U.S. Securities and Exchange Commission (SEC) answered the latest filing of Coinbase by shooting down the arguments presented by the exchange to throw out the ongoing lawsuit. The filing reaffirms the institution’s jurisdiction on securities laws, explaining that Coinbase misinterprets the Howey test and criticizing the “major questions doctrine” usage in the case. SEC
The post SEC States Coinbase Misinteprets Howey Test, Misuses Major Questions Doctrine appeared first on BTC Ethereum Crypto Currency Blog.
The buzz on Twitter suggests that Coinbase, a leading cryptocurrency exchange, has accused SEC Chairman Gensler of distorting the crypto market.
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