Yesterday Donald Trump selected the brand new president of the SEC.
Throughout the night time, the value of Bitcoin surpassed for the primary time in its total historical past the $100,000 mark.
The brand new Presidente della SEC
The brand new president of the SEC chosen by Trump will probably be Paul Atkins.
At the moment, the president of the U.S. company that oversees the inventory exchanges remains to be Gary Gensler, a Democrat appointed by Joe Biden in 2021.
Nonetheless, Gensler himself, after Trump’s electoral victory, acknowledged that he’ll resign on January 20, 2025, the day Donald Trump will take workplace as the brand new president of the USA.
Initially, the brand new president didn’t appear to have Atkins in thoughts as the brand new man to guide the SEC, so it was a tough selection.
Atkins himself had reservations about accepting the place, as a result of after a presidency like Gensler’s, which was closely criticized and stuffed with shadows, the function of the brand new SEC chairman could possibly be tough, as he must rebuild the company’s popularity.
The comunicato di Trump sul nuovo Presidente della SEC
Trump introduced the appointment of Atkins on his social community, Fact.
He wrote that he’s happy to announce the appointment of Paul Atkins as the following chairman of the Securities & Change Fee.
He added that Atkins is a confirmed chief for common sense laws, and that he believes within the promise of robust and revolutionary capital markets, which meet the wants of traders, and supply capital to make the USA the perfect economic system on the earth.
Moreover, he explicitly specified:
“It additionally acknowledges that digital property and different improvements are important to make America larger than ever.”
Digital property are cryptocurrencies, along with NFTs and tokenized property, and Trump himself shortly earlier than the elections launched his DeFi mission.
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Paul Atkins
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As revealed by Trump himself, Paul S. Atkins is the CEO and founding father of Patomak World Companions, a consulting agency for threat administration.
He’s additionally co-president of the Token Alliance of the Digital Chamber, since 2017, and has labored and studied the digital asset sector.
Much more importantly, he has already been a commissioner of the identical SEC from 2002 to 2008, underneath the Bush presidency, and at the moment he supported transparency and investor safety.
He was born in North Carolina, however he grew up in Florida.
He graduated in legislation and previously labored as a lawyer in New York. On the time, he handled company transactions, together with public securities choices (IPO), mergers, and acquisitions.
Earlier than being appointed as SEC commissioner in 2022, he had assisted varied monetary providers firms in bettering their compliance with SEC laws, and collaborated with legislation enforcement to research and rectify conditions the place traders had been harmed.
Due to this fact, he could be outlined in all respects as a person of expertise within the sector, and he doesn’t appear energetic in politics.
The results on the crypto markets
To inform the reality, yesterday, after Trump’s announcement, the crypto markets didn’t instantly react to this information.
Partly it’s as a result of the appointment of Atkins was already within the air, and maybe it had already been priced in by the markets, partly it’s as a result of the rise final night time can be because of different elements.
Probably the most vital elements that pushed the value of Bitcoin up yesterday was the statements of the present Fed chairman, Jerome Powell, who will in all probability not get replaced by Trump (it was Trump himself who appointed him in 2018).
Powell explicitly in contrast Bitcoin to gold within the monetary markets, clearly stating that Bitcoin isn’t a competitor of the greenback.
These two issues mixed have solid optimism on the crypto markets, however they haven’t instantly triggered the rise within the worth of BTC.
The surpassing of $100,000
To provide the ultimate push, the truth is, have been the Asian markets.
On the shut of the US inventory markets yesterday, the value of Bitcoin had solely managed to return to these $99,000 that it had already reached a few weeks in the past.
So the 2 excellent news objects coming from the USA have been solely capable of get better all of the losses of the previous weeks, furthermore decidedly gentle.
The turning level occurred throughout the night time, particularly simply after the opening of the Chinese language inventory exchanges.
Final night time the Dangle Seng index of the Hong Kong inventory change fell by about 1%, and on the Hong Kong inventory change there are ETFs on Bitcoin and Ethereum.
The important thing level is that exactly for right this moment, December 5, 2024, a turning level was anticipated for the pattern of the Bitcoin worth, and as quickly because the Asian markets opened, this turning level manifested itself.
The value of Bitcoin not solely broke via the 100,000$ barrier, however with momentum it pushed as much as attain a brand new all-time excessive virtually at 104,000$.
In different phrases, the information from final night time paved the way in which, which was then adopted by the Asian markets in a single day.