Who’s up next for the SEC throne

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🤔 Rumors are swirling about who’s in line to be the following SEC Chair.

🔥 Cobie burned $17 million value of tokens.

🍊 Information drops: the Ethereum Basis launches Mekong, Detroit residents will be capable to pay taxes with crypto + extra

🍍 Market taste at the moment

The crypto market’s throwing a celebration, and everybody’s invited 🎉 The Concern and Greed Index is in “Greed” at a strong 75. Bitcoin is smashing information like they’re piñatas, leaping to almost $77K yesterday and lounging across the $76K mark ever since.

Over on the Federal Reserve, they did precisely what everybody anticipated: lower rates of interest by 25 bps. They’re nonetheless attempting to decelerate the unemployment fee, however not so onerous that inflation stops cooling. And apparently, Donald Trump’s grand entrance hasn’t modified their script. In accordance with CME FedWatch, there is a 67.8% likelihood we’ll see one other 25 bps fee lower on December 18.

Now, talking of Trump and the Fed, their relationship is about as fuzzy as hugging a cactus. In his final time period, Trump known as Fed Chair Jerome Powell – the man he appointed, thoughts you – an “enemy” for not slicing charges. However the factor is – the Fed’s been unbiased since 1951, and their job is to make the powerful requires the economic system’s long-term well being, even when it offers politicians a headache. So, when requested whether or not he’d resign if Trump tried to point out him the door, Powell merely mentioned, “No.” Mic drop.

Sliding over to the crypto crystal ball, Raoul Pal, CEO of Actual Imaginative and prescient, is serving some spicy predictions 🌶 He thinks we’re coming into the part the place Ethereum begins to outpace Bitcoin. Why? Laws are more likely to dramatically enhance for crypto, main to 2 massive developments:

As for crypto ETFs – these guys are persevering with their big influx streak. Yesterday, BTC ETFs noticed a document $1.37B in inflows, whereas ETH ETFs had $79.7 coming in.

So, hold that eye on the charts, tiger – these bulls aren’t going wherever quickly 🐯

💼 SEC #Hiring

We have already talked in regards to the US SEC Chair Gary Gensler situash. If you happen to’re new right here, to start with, heey 😏; second, you possibly can learn this version to atone for the tea.

Or if ya lazy, TL;DR: Gensler’s LinkedIn is getting this replace quickly:

‘Trigger Donald Trump needs him out ASAP.

Now, the massive Q: who’s subsequent in line to run the SEC? Properly, a bit birdie (Reuters) dropped some names, and this is the lineup to date:

So, who’s the one? Properly, y’all are gonna have to provide it a sec (haha, get it? 🤪 …pls do not depart). The method might drag out a couple of weeks, so it is nonetheless too early to say something.

However from the seems to be of it, the warfare towards crypto is coming to an finish. We made it, of us.

🎸 Smells like burnt tokens

If you happen to’ve been in crypto for some time, you already know Cobie. And in the event you’re new right here, to start with, heey 😏; second, he is one of the crucial fashionable crypto influencers, who’s been within the house since 2012. He additionally seems to be like Kurt Cobain (+rep massive time).

And he is not your common dealer. Cobie launched a celeb token in 2014 (again when memecoins had been barely a factor), he helped develop Lido (the biggest DeFi protocol), uncovered insider merchants at Coinbase (which led to an SEC investigation), had a podcast known as UpOnly the place he chatted with massive names like Michael Saylor and Vitalik Buterin… so, you realize, he is kinda an enormous deal.

Nevertheless, the notorious FTX collapse in 2022 hit him onerous, so he took a break… however guess what? He hinted that UpOnly may return.

Naturally, a memecoin known as UPONLY was launched. Cobie acquired 60% of the token’s 1B provide despatched to him, however he did not wanna become involved – so he burned all of the tokens, value a cutesy little $17 million. His parting phrases? “See you in hell.”

What a rockstar transfer.

📰 Information drops

🧑‍💻 The Ethereum Basis launched the Mekong testnet so devs can mess around with upcoming upgrades earlier than they hit the mainnet. It is a short-term testnet, full of all of the EIPs supposed for Ethereum’s Pectra fork.

🤔 Italy’s economic system minister mentioned he is open to rethinking the plan to hike crypto capital beneficial properties tax after some occasion members pushed again. The present proposal within the 2025 finances goals to bump the tax fee from 26% to 42%.

🧾 Detroit’s making ready to let residents pay taxes and metropolis charges with crypto via PayPal. This might make Detroit the the most important US metropolis to simply accept crypto funds.

🤨 Swiss Nationwide Financial institution’s acquired its eyebrows raised at crypto. Chairman Martin Schlegel mentioned that regardless of their progress, these currencies are nonetheless a distinct segment phenomenon… bro, outline area of interest.

🚀 Coinbase’s wrapped Bitcoin, cbBTC, is now stay on Solana. It is the primary token Coinbase has issued on this blockchain.

☁️ Sky introduced that its proposal to rebrand again to Maker acquired the thumbs-down. Solely 18.46% of voters had been in favor of bringing Maker again with a restricted model refresh.

🍌 Juicy memes