10x Research Predicts SEC Chairman Gary Gensler May Resign In Early 2025
In Brief
10x Research reported that with Joe Biden stepping down from the US presidential race a crypto-friendly administration might take office.
Organization focusing on digital asset research for wealth managers and cryptocurrency service providers, 10x Research shared in its latest research reporting that with Joe Biden stepping down from the United States presidential race, there appears to be no prominent contender to oppose Donald Trump. This situation suggests that a cryptocurrency-friendly administration might take office, which could positively impact Bitcoin and other digital assets.
The company observed that historically when a new administration takes office, the chairman of the US Securities and Exchange Commission (SEC) typically steps down. Despite the current SEC Chairman, Gary Gensler, having a term that extends until June 5th, 2026, he is expected to resign in January or February 2025, according to the firm’s projections.
Bitcoin Gains Momentum Amid Continued ETF Inflows, Ethereum Holds Steady
As of the writing time, Bitcoin is trading at $67,670, registering an increase of over 1.04% in the past 24 hours. During this period, Bitcoin’s price ranged from a low of $66,087 to a high of $68,418. Additionally, Bitcoin’s market dominance is at 54.37%, marking an increase of over 0.17% in the last 24 hours.
The cryptocurrency sustained its rally over the weekend, driven largely by inflows into Bitcoin exchange-traded funds (ETFs). As per SoSoValue data, United States Bitcoin ETFs experienced their eleventh consecutive day of positive inflows on Friday. Notably, BlackRock’s IBIT has accumulated nearly $19 billion in net inflows since its inception, contributing to the ongoing momentum in the Bitcoin market.
Meanwhile, Ethereum has been trading close to the $3,500 mark. Currently, Ethereum’s price shows a decline of 0.32%, standing at $3,498. Over the past 24 hours, its lowest price was $3,436, and its highest was $3,558. As of now, Ethereum’s market capitalization is valued at $423 billion. This data highlights Ethereum’s relative stability and substantial market presence.
The global cryptocurrency market has experienced a 0.63% increase, bringing its total value to $2.45 trillion. In addition, the total trading volume for cryptocurrencies over the past day rose by 44.48%, reaching $71.57 billion, as CoinMarketCap data shows.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
