A major revamp is coming to the SEC. For many reasons, this year’s US presidential elections have become the most consequential for cryptocurrency. Crypto and blockchain technology has become an election issue, with both the Republican and Democratic candidates teasing the electorate with their plans on how to handle crypto. Related Reading: Binance Coin Breaks $600! Is There More Upside Ahead For BNB? Between the two, incoming President Donald Trump offered a more friendly stance over crypto, promising to make the US a “crypto capital” and suggesting a change in leadership at the Securities and Exchange Commission (SEC). Now that Trump is the next president, all eyes are on the SEC and the expected reshuffle. And the latest political chatter suggests that the high-profile job will probably go to Dan Gallagher, Robinhood’s Chief Legal Officer. Many expect Trump to announce in January 2025 the next SEC chief, as the clamor for the agency’s Gary Gensler’s exit intensifies. Gensler In Hot Seat Before Elections Many expect Gensler to be one of the high-profile exits once Trump takes office. Gensler has waged legal fights against the crypto community for years, including Binance and Ripple’s XRP. His aggressive policies against crypto and its personalities have earned him plenty of detractors and enemies. With Gensler’s increasing unpopularity, many have demanded his resignation. Trump acknowledged the issue and promised a revamp of the SEC once he wins. Even Ripple’s Brad Garlinghouse has blamed Gensler for the Democrat’s loss this election. Now, Reuters reports that Robinhood’s Dan Gallagher is considered the top contender for Gensler’s post. Robinhood’s Dan Gallagher As Next SEC Chair? Dan Gallagher currently serves as Robinhood’s Chief Legal Officer. Gallagher was a SEC commissioner from 2011 to 2015 before joining the company. Also, Gallagher enjoys wide popularity among cryptocurrency bigwigs, especially among Trump donors. At least two sources have confirmed that the former SEC commissioner is in the running to become the next chair of the agency. Although the selection process is still open, Gallagher’s pro-innovation policies give him an advantage over other hopefuls. He advocates for tighter regulation of cryptocurrencies and supports market liberalization. Previously, Gallagher campaigned to treat digital assets like Bitcoin as a distinct asset class, not as securities. In short, the SEC can see a more crypto-friendly policy once Gallagher takes oath. Related Reading: Solana Rockets Past BNB To Claim Coveted 4th Spot In Crypto Ranks Other Candidates In Consideration Aside from Gallagher, a few other names are floated as Gensler’s replacement. For example, some in the crypto industry are looking at Hester Pierce, who is a SEC Commissioner, to become the next SEC chair. However, some insiders have shared that Pierce isn’t keen on taking the job. Another candidate in the running is Mark Uyeda, who was appointed as SEC commissioner on June 30, 2022. Multiple reports also mentioned Paul Atkins, former Republican SEC Commissioner, and Robert Stebbins – who was named SEC General Counsel in May 2017 — as possible Gensler replacement. Featured image from CNBC, chart from TradingView
They include options on Bitwise Ethereum ETF, Grayscale Ethereum Trust, and Grayscale Ethereum Mini Trust, as well as “any trust that holds Ether,” the filing said.
As President-Elect Donald Trump prepares to assume office, the crypto industry is closely watching his administration’s potential picks for key financial regulatory positions. With promises to end the “war on crypto” initiated under the Biden administration, Trump is expected to overhaul leadership at the Securities and Exchange Commission (SEC) and other financial agencies. Will Dan […]
Coinbase CEO Brian Armstrong has voiced his support for Securities and Exchange Commissioner (SEC) Hester Peirce‘s appointment to lead the agency during President Donald Trump‘s second term. Armstrong’s comments, shared on Nov. 8 through a post on X, described Peirce as “smart, fair, professional,” and capable of bridging both sides of the political spectrum. He […]
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Robinhood’s legal chief, Dan Gallagher, is reportedly one of the top picks to head the SEC under Trump, who promised to fire its current chair “on day one.”
In the wake of Donald Trump’s victory in the US presidential election, crypto industry giants like Ripple and Coinbase are anticipating significant regulatory shifts. Trump has expressed a pro-crypto stance and has indicated his intention to replace Securities and Exchange Commission (SEC) Chair Gary Gensler “on day one” of his administration. This move could lead […]
Kraken’s legal team, led by attorney Michael O’Connor, has criticized the US Securities and Exchange Commission (SEC) for its latest attempt to dismiss critical defenses raised by the exchange in their ongoing legal battle. On Nov. 6, O’Connor shared a statement on X, condemning the SEC’s approach as an attempt to “avoid discovery” into what […]
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The SEC argued that Kraken’s defenses about the major questions doctrine are a “due process fail as a matter of the law.”
A motion filed earlier this week rejected several of Kraken’s defenses and complained that the exchange was "trying to re-litigate the same issues repeatedly."
Tron’s founder, Justin Sun, took X to congratulate the newly elected 47th president of the United States, Donald Trump. The pro-industry Republican candidate’s victory has ignited speculation about the sector’s new era, including the future anti-crypto regulators like Securities and Exchange Commission (SEC) chairman Gary Gensler. Related Reading: Spot Bitcoin ETFs Record Second Largest Single-Day […]
In the aftermath of Donald Trump’s election victory, Ripple’s top executives have outlined their expectations for the incoming administration, emphasizing the need for regulatory clarity in the crypto industry. On November 6, Ripple CEO Brad Garlinghouse congratulated Trump via X and presented a “first 100-day checklist” aimed at overhauling the current regulatory framework. Ripple Leadership […]
A Republican-led Senate is poised to pass clearer crypto regulations, signaling a shift toward industry-friendly policies in the US.
Coinbase chief legal officer Paul Grewal has urged the SEC to foster crypto innovation over litigation amid Trump’s pledge to fire Gensler.
Donald Trump was not always a cryptocurrency fan, but the community has rallied around him as a pro-crypto candidate in the 2024 US presidential election.
Cyrpus’ securities regulator has extended the suspension on FTX Europe for the fourth time, which stops trading on the platform but allows customers to withdraw funds.
Binance and its founder, Changpeng Zhao, have filed a motion to dismiss the US Securities and Exchange Commission’s (SEC) amended complaint. In a Nov. 4 court filing, Binance and Zhao’s legal team argued that the SEC has only superficially acknowledged a prior court ruling, which clarified that crypto is not inherently classified as a security. […]
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Lawyers representing Binance and former CEO Changpeng “CZ” Zhao have made a fresh attempt to dismiss the Securities and Exchange Commission (SEC) lawsuit against them.
Blockchain Association, a crypto-focused lobby group, announced that crypto companies have spent around $426 million fighting lawsuits filed by the US Securities and Exchange Commission (SEC) under its chief, Gary Gensler. Related Reading: Did YouTuber MrBeast Make $23 Million From Crypto Scams? Shocking Allegations Emerge In its October 31st report, in partnership with HarrisX, the […]
Asset management company 21Shares has joined the list of firms that have filed applications with the US Securities and Exchange Commission (SEC) for a spot XRP exchange-traded fund (ETF). On Nov. 1, 21Shares submitted an S-1 form to register its Core XRP Trust shares for listing on the Cboe BZX Exchange. Coinbase, the largest crypto exchange […]
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The US Securities and Exchange Commission (SEC) has filed a Wells Notice to Immutable over its sales of IMX tokens. The SEC’s contention is related to a 2021 blog post on the pre-launch investment made in the IMX tokens priced at $0.10 or a $10 pre-100:1 split. Related Reading: ADA Is The Star, Cardano Founder […]
The asset manager became the third firm to apply for listing and trading shares of a spot XRP ETF, following Canary Capital and Bitwise.
Crypto market volatility rises in reaction to Trump’s decreasing victory odds, with the technical setup hinting at a deeper correction.
Web3 gaming firm Immutable has been issued a Wells notice by the U.S. Securities and Exchange Commission, the company said in a statement on Friday.
Blockchain gaming platform Immutable says it received a Wells notice from the SEC over alleged securities law violations within "hours" of its first interaction with the regulator.
The advocacy group called for crypto voters to support a change in leadership at the SEC, given Gary Gensler’s “regulation by enforcement” approach since 2021.
The Blockchain Association, a leading crypto advocacy group, reported that its member firms have collectively spent over $400 million addressing enforcement actions initiated by the US Securities and Exchange Commission (SEC) under chair Gary Gensler. In an Oct. 31 statement, the association highlighted that Gensler’s SEC has filed 104 enforcement actions against players in the […]
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If the Ethereum network makes a few critical adjustments, ETH price could sustainably rally to $3,000 and above.
Coinbase chief executive Brian Armstrong publicly went on to criticize the US Securities and Exchange Commission, declaring its stance on cryptocurrency “confusing and inconsistent”. He pointed out the issue of regulatory uncertainty as something looming over the sector’s head, which is hurting innovation and investor trust. Armstrong’s criticism mirrors the growing industry frustration over ambiguous […]
Coinbase, a16z, Multicoin Capital, and Paradigm have filed an amicus brief supporting Beba LLC and DeFi Education Fund’s preemptive lawsuit against the SEC.
The bulk of Reddit’s cryptocurrency sales came from Bitcoin and Ether holdings, with the company reporting that gains from transactions were insignificant.