Breaking News: SEC – Market Insights, Analysis & Latest Updates

The Daily: Solana hits new all-time high, XRP surges after Gensler announces SEC departure and more

Solana surged 11% on Thursday to reach a new all-time high above $263 by the end of the day amid a broader market rally fueled by Donald Trump’s election victory, sparking optimism about a more crypto-friendly U.S. administration. XRP has had one of the strongest crypto rallies over the past 24 hours, surging 32% to around $1.47 — reaching its highest price since May 2021. Ethereum futures open interest jumped 12% to a fresh high of $20.8 billion on Friday, signaling short-term bullish momentum in the derivatives market, according to analysts at CryptoQuant. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 22/11/2024 - 18:46 PM

SEC Commissioner Jaime Lizárraga to leave agency following Chair Gensler's exit

Jaime Lizárraga, one of three Democratic commissioners at the SEC, said he let President Joe Biden know of his plans to leave. Lizárraga’s announcement comes a day after SEC Chair Gary Gensler said he also plans to step down in January.

theblock.co • 22/11/2024 - 18:43 PM

Robinhood exec Dan Gallagher rules out leading SEC

Dan Gallagher was on the list of potential chairs to lead the SEC in a new administration. Gallagher said he is dedicated to Robinhood and said he is “eager to work with the incoming administration” and the next SEC chair in an emailed statement to The Block.

theblock.co • 22/11/2024 - 16:18 PM

SEC
XRP

XRP surges to hit 3-year high as Gensler announces SEC departure

The price of Ripple’s XRP token has rallied over 27% in the past 24 hours to hit its highest level since May 2021. The surge comes amid Gary Gensler’s announcement of his departure from the SEC.

theblock.co • 22/11/2024 - 03:45 AM

Texas judge tosses out SEC's expanded 'broker' rule, which broke with 90 years of legal tradition to rope in crypto traders

A Texas court has order the U.S. Securities and Exchange Commission to throw out a controversial rule that broadly redefined the term “dealer” in a move that impacted both crypto-focused and traditional finance firms. The Blockchain Association and Crypto Freedom Alliance of Texas lodged a lawsuit against the agency in April, the month the expanded rule took effect.

theblock.co • 21/11/2024 - 20:07 PM

The Daily: Gary Gensler to leave SEC on Jan. 20, regulator now 'engaging' on spot Solana ETFs and more

SEC Chair Gary Gensler will step down on Jan. 20, 2025, coinciding with the start of President-elect Donald Trump’s term, according to a statement released by the agency on Thursday. The SEC is now “engaging” with applicants on spot Solana ETFs, Fox News reporter Eleanor Terrett first reported, citing two people familiar with the matter, and confirmed by The Block with a source at one issuer. U.S. spot Bitcoin ETFs surpassed $100 billion in combined assets under management on Wednesday — representing around 5% of bitcoin’s total market cap — driven by the cryptocurrency’s ongoing price rally. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 21/11/2024 - 19:06 PM

SEC Chair Gary Gensler to step down as Trump signals pro-crypto agenda

Gary Gensler plans to leave on January 20, 2025, according to a statement released by the agency on Thursday. During his time at the SEC, Gensler led efforts to push for central clearing in Treasury markets, implemented changes on executive pay versus performance and forged on with work to shield investors in crypto markets.

theblock.co • 21/11/2024 - 18:00 PM

SEC

'Checks in the mail': SEC to partially reimburse investors in online advertising blockchain startup BitClave

The SEC is distributing millions of dollars to investors in a failed online advertising blockchain startup. BitClave raised over $25 million in an unregistered initial coin offering in 2017.

theblock.co • 20/11/2024 - 23:51 PM

The Daily: FTX co-founder Gary Wang avoids prison time, BlackRock's Bitcoin ETF sees unprecedented first-day options trading and more

FTX co-founder Gary Wang avoided prison time at a sentencing hearing on Wednesday, according to Inner City Press and Reuters. BlackRock’s IBIT spot Bitcoin ETF achieved nearly $1.9 billion in notional exposure during its first day of options trading on Tuesday. Bernstein analysts named Robinhood the top “crypto deregulation trade,” following Donald Trump’s election win this month, raising their HOOD share price target to $51 — around 45% upside potential. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 20/11/2024 - 18:54 PM

Bernstein names Robinhood as top 'crypto deregulation trade,' raises price target to $51

Analysts at Bernstein named Robinhood the top “crypto deregulation trade” following Donald Trump’s win in the U.S. presidential election. The analysts rate HOOD stock as outperform, raising their price target to $51.

theblock.co • 20/11/2024 - 10:34 AM

Currency