Bitcoin prices have jumped by a whopping 40% since the US presidential election and are within striking distance of reaching the $ 100,000 mark, hovering above $99,000 on November 22. The digital token received a further boost as Trump fulfilled his campaign pledge to replace US Securities and Exchange Commission chair Gary Gensler, a move many crypto enthusiasts and top-level executives were looking forward to.
Although Bitcoin exchange-traded funds were approved under Gensler's tenure, he spent much of his time as SEC chair clashing with and filing lawsuits against top digital asset companies, including Coinbase. According to the SEC press release published yesterday, Gensler will resign on January 20, 2025. The move is expected to make way for a deeper relationship between the SEC and the crypto industry as Trump's new administration works to create the first-ever White House post for overseeing crypto policies.
