Is Gary Gensler finally signing off

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📢 Gary Gensler updates.

🍊 Information drops: McDonald’s is collaborating with Doodles, Bitfinex hacker will get sentenced to 5 years + extra

🍍 Market taste in the present day

Seems just like the market’s getting a bit extra humble – the Concern and Greed Index slipped from “Excessive Greed” to “Greed” at 80. Bitcoin could not maintain the $90K line and is now hanging round $88K.

So, bear in mind when yesterday all of us obtained excited concerning the Fed presumably reducing charges in December? Nicely, Fed Chair Jerome Powell poured some chilly water on that concept, saying the financial system is not giving any alerts that they should rush into reducing charges. Cue Bitcoin taking a 3% dip after the information.

The ripple impact hit BTC ETFs, too. After a candy streak of big inflows, they noticed $400.7M head for the exit yesterday.

However do not let that freak you out. MicroStrategy’s foremost man, Michael Saylor, is dismissing any speak of Bitcoin sliding again to $60K – a worth stage that dominated a lot of 2024. Saylor says Donald Trump’s win has “very decidedly” set the long run for crypto and Bitcoin within the US, including, “I do not actually see any threats on the near-term horizon.” Oh, and he is already planning the $100K social gathering. Yo, M-Canine, we’re homies, proper? 😃 I am invited… proper? 😃

Backside line: The market may be catching its breath, however the massive gamers are nonetheless all-in. Perhaps it is time we take a web page out of Saylor’s e-book and hold our eyes on the prize. In spite of everything, in the present day’s dip may very well be tomorrow’s golden alternative 🏆

🔍 Maintaining with Gary Gensler

Final week, we talked about Donald Trump’s massive promise to kick out SEC Chair Gary Gensler, which might’ve taken endlessly with all the required procedures.

However what – and I gotta say, I do not actually consider in miracles, however there is no different clarification right here – Gensler may’ve simply performed the job for Trump. This is the closing line of his current speech:

“I have been proud to serve with my colleagues on the SEC who, day in and day trip, work to guard American households on the highways of finance.”

TELL ME THIS IS NOT A FAREWELL NOTE. Does this imply that the regulatory conflict towards crypto is over? Nicely, do not get too excited simply but – nothing’s confirmed. However the hopes are undoubtedly up.

In that very same speech, Gensler additionally took a visit down reminiscence lane to have a good time the SEC’s achievements for crypto – crypto ETFs, … umm…  I suppose that is just about it. Oh, he additionally appeared to be happy with classifying almost 10K tokens as “unregistered securities.” 

After this fast recap, Gensler then served the traditional: crypto unhealthy, investor lose and cry = rip-off. Truthfully, all of the speech was lacking was, “My time right here has been… wonderful.” 😈

Once all of the crypto bros have prayed sufficient and Gensler is basically out – somebody’s gonna must take the crown. We dropped some names for potential replacements final week, which you’ll try right here.

However guess what? Rumors additionally hinted that ex-CFTC Commissioner Chris Giancarlo, aka Crypto Dad, may be within the working. Besides these rumors stay simply that, because the man himself confirmed it is not gonna occur (sorry to interrupt it to you). He stated:

“I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess within the CTFC and do not wish to have do it once more.”

On one hand, it is a disgrace. However on the opposite – such sick bars are all the time a delight. Temper rn – this:

And if that roast wasn’t sufficient to quench that thirst for revenge, this is the cherry on prime: 18 US states filed a lawsuit towards the SEC and Gensler for overstepping their authority.

Mainly, the states are saying that they ignored division of energy, attempting to take full management over crypto regulation via enforcement.

If this lawsuit does not work, then idk, man. Can we simply… launch the hounds? Only a thought, only a remark, do not sue me for this.

📰 Information drops

🍟 McDonald’s is teaming up with Doodles – the artistic model that obtained its begin as an NFT venture. They’re launching a marketing campaign referred to as “GM Unfold Pleasure,” full with limited-edition McCafé cups that includes Doodles-inspired designs.

⛓ Ilya Lichtenstein, the mastermind behind the 2016 Bitfinex hack that stole $385.1M in crypto, was sentenced to 5 years. Prosecutors really useful a lighter sentence as he had no prior legal document, helped out in investigations, and did not pull off a profitable laundering job.

🏦 Hong Kong’s Financial Authority (HKMA) is asking out some crypto companies for sketchy practices. These firms have been utilizing the time period “financial institution” to make themselves look extra legit and acquire belief – regardless of missing the licenses to again it up.

🏈 Russell Okung, Carolina Panthers star, is ensuring gamers in his new flag soccer league – fittingly referred to as Bitball – receives a commission in Bitcoin. He is performed with middlemen taking a slice or shady offers behind the scenes, so he is making a league targeted on pure sport and actual alternatives for gamers.

💰 Pennsylvania lawmakers have launched a brand new invoice that might permit the state treasury to stash as much as 10% of its stability sheet in Bitcoin. Rep. Mike Cabell, who put the invoice ahead, says BTC may very well be a stable defend towards inflation.

🤖 Rumor has it that OpenAI is getting ready to launch a brand new AI agent, codenamed “Operator,” that’ll independently deal with duties for customers – writing code, reserving journey, and extra. It is reportedly set for a January debut as a analysis launch, plus it’s going to be accessible to builders via OpenAI’s API.

🍌 Juicy memes