Trump’s top pick for SEC chair

Find out who it is and why he may be reluctant to take the job

Author

Daniel Akpobare
December 04, 2024

In partnership with

GM Explorer,

Change is brewing at the SEC, and the crypto world is buzzing! With Trump eyeing pro-crypto candidates to replace Gensler, could this be the fresh start crypto needs?

Here’s what we got for you today:

  • 👨‍💼 Trump’s top pick for SEC chair!

  • 📉 Bitcoin plummets amid political chaos in South Korea!

  • 🔎 Market Insight

  • 🧱 Around the Block: Coinbase CEO says he will not work with firms hiring crypto opposers.

👨‍💼 Trump’s Top Pick for SEC Chair!

Exciting developments are brewing in the world of finance!

President-elect Donald Trump is reportedly considering former SEC Commissioner Paul Atkins as a potential successor to Gary Gensler at the SEC.

And it looks like this could be more than just talk.

In fact, sources say Atkins has already been interviewed and even offered the position at Trump’s Mar-A-Lago resort, where he was spotted earlier this week.

And you know what makes this particularly thrilling for crypto enthusiasts?

It's the fact that Atkins has been and still is a vocal supporter of cryptocurrencies, and many are already celebrating the prospect of a fresh start.

After all, Gensler’s tenure was pretty much an unforgettable nightmare for crypto lovers.

But here’s the thing:

While the crypto crowd eagerly hopes Atkins will take the reins, it turns out Atkins isn’t exactly rushing to accept the offer just yet.

Word on the street is that he’s hesitant about taking on the monumental task of cleaning up the mess left behind by Gensler.

And honestly, who could blame him? The SEC’s crypto drama is no small headache.

But hey, Atkins isn’t alone in his hesitation.

Former CFTC chair Chris Giancarlo, another potential replacement for Gensler, has also expressed his reluctance to dive into the SEC’s crypto troubles.

If Atkins ultimately passes on the role, fear not – There are still a number of intriguing candidates in the running.

Names like former Binance U.S. CEO Brian Brooks and seasoned securities law expert Teressa Goody Guillén are both said to be strong contenders.

And that’s not all

Current SEC Commissioners Mark Uyeda and Hester Peirce are also in the conversation, although crypto lawyer Jake Chervinsky isn’t too optimistic about them.

And let’s not forget Dan Gallagher, a former SEC official who seemed like a frontrunner but dropped out last month.

Despite the uncertainty, the crypto world is cautiously optimistic that Trump will appoint someone who truly understands the space.

His team has even been discussing the innovative idea of establishing the first-ever U.S. crypto czar to oversee this burgeoning field.

So, while the identity of the next SEC leader remains a mystery, one thing is crystal clear: the SEC's future is gearing up to get a whole lot more dynamic and exciting!

Stay tuned for more updates and yes, you can get the full report here.

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 📉 Bitcoin Plummets Amid Political Chaos in South Korea!

Bitcoin just experienced a wild rollercoaster ride on South Korea's Upbit exchange!

In an unexpected twist, Bitcoin plummeted by a staggering 30%, briefly touching $62,000 on Upbit, according to data from TradingView.

The cause?

President Yoon Suk Yeol suddenly declared emergency martial law on December 3, a move aimed at tackling rising political unrest and escalating tensions with North Korea.

This shocking news sent ripples through the crypto markets, not just in Asia but across the globe.

But just when it seemed like Bitcoin might be down for the count, it staged an impressive comeback, soaring back to $89,000 on Upbit. 

The tension didn’t end there:

This dramatic shift created a $4,000 arbitrage gap with prices elsewhere, leaving traders scrambling to capitalize on the opportunity.

Major exchanges like Upbit and Bithumb struggled to keep up with the surge in activity and even faced brief trading outages.

Aside from Bitcoin, other tokens like XRP, DOGE, and ADA also experienced their own volatility.

This incident serves as a powerful reminder of how geopolitical events can sway the crypto markets.

And for investors, it’s a wake-up call to stay on top of global developments and their profound impact on digital assets.

🔎 Market Insight

TIA is making a significant upward move.

It has successfully broken through the resistance range of $7.9918 to $8.6383 and is now targeting $11.80.

We believe TIA will reach this target quickly.

TIAUSDT Weekly Chart

What’s remarkable about TIA is that it initially retraced closely to its support level of $0.728. This provided those who read yesterday’s newsletter one last opportunity to buy in before the price rallied back up again.

TIA's 4-hour chart shows this clearly

TIAUSDT 4hr Chart

Yesterday, we mentioned this could happen, and when it does, you should treat it as an opportunity to acquire more TIA.

Here is a snippet from yesterday's newsletter.

A snippet from yesterday's newsletter.

We remain optimistic about TIA and believe that TIA will get to $50 by next year.

🧱 Around The Block

That's all we've got for you today.

Did we miss anything? Or just want to say hey? We'd love to hear from you! You can

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.

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