Cryptocurrency News Today TheBitTimes.com

Ripple’s XRP token surged and crypto market leader Bitcoin (BTC) is edging closer to the psychological $100K mark after US Securities and Exchange Commission (SEC) Chair Gary Gensler announced he will step down next month. Remittance token XRP soared more than 24% in the past 24 hours to trade at $1.38 as of 3:30 a.m. EST. Bitcoin climbed more than 1% to $98,772 after earlier hitting a new all-time high (ATH). Ripple CEO “Thankful” That Gary Gensler Is Stepping Down This came after Gensler shared his resignation announcement in a Nov. 21 thread on X. The SEC executive disclosed that he will step down as the regulator’s chair on Jan. 20, 2025, after Donald Trump is inaugurated as president.  On January 20, 2025 I will be stepping down as @SECGov Chair. A thread 🧵⬇️ — Gary Gensler (@GaryGensler) November 21, 2024 “It has been an honor of a lifetime to serve w/ them on behalf of everyday Americans & ensure that ou...

Crypto asset manager Grayscale has updated its S-3 filing for a spot Bitcoin (BTC) ETF. According to Bloomberg analyst James Seyffart, Grayscale filed an updated filing with the U.S. Securities and Exchange Commission (SEC) the same day Barry Silbert — CEO of parent company Digital Currency Group — announced his resignation from Grayscale’s board of directors. “Even Grayscale is accepting the SEC’s Cash-only creation/redemption edict. Looks like they’re bending the knee.” James Seyffart, Bloomberg analyst Some crypto market commentators have speculated that Silbert’s departure could significantly increase the chances of Grayscale successfully converting its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF, which is currently awaiting an SEC decision. Barry's resignation was @Sonnenshein's X-Mas gift. What to make of @bsilbert resigning from Grayscale? Grayscale has had 9 meetings with the SEC per the table below (h/t @JSe...

Following Zhao’s resignation, Binance Coin’s value dropped, reflecting significant market volatility and investor uncertainty. What’s coming next? The recent developments surrounding Changpeng Zhao, the founder of Binance, have brought significant changes to the cryptocurrency industry. Zhao has agreed to step down as CEO and plead guilty to federal money laundering charges. This plea is part of a broader settlement with the United States Department of Justice (DOJ) and involves several federal agencies. The total fees associated with this settlement exceed $4 billion, comprising a forfeiture of $2.5 billion, a fine of $1.8 billion, and personal payments from Zhao amounting to about $50 million​​​​. Zhao’s guilty plea pertains to a single count of failing to maintain an effective anti-money laundering program.  This lapse led to Binance facilitating nearly $900 million in financial transactions that violated sanctions against countries like Iran, Cuba, Syria...

John Reed Stark believes SEC chair Gary Gensler could throw in the towel, depending on a possible scenario to play out in 2024. The United States’ securities regulator could completely u-turn its approach to crypto enforcement, depending on a key election in the United States in 2024, according to former SEC official John Reed Stark. In an Aug. 13 tweet, the former SEC Office of Internet Enforcement chief predicted that a Republican President could drastically shift the crypto-regulatory tide, including the potential resignation of SEC chief Gary Gensler. There are currently a number of Republican candidates in the running. Former-President Donald Trump remains the most popular candidate among Republican voters, followed in a distant second by Florida Governor Ron de Santis and then by South Carolina Senator Tim Scott.  Should a Republican be elected as President, according to Stark, Gensler would likely be replaced by crypto-friendly Hester Peirce — often referred to as "Crypt...