Cathie Wood Calls for SEC Shake-Up to Fuel Crypto Growth!

Cathie Wood believes a “changing of the guard” at the US SEC could turbocharge the economy.

Author

Danielle du Toit
November 11, 2024

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Here's what we've got for you today:

  • ‘Defanging the SEC’ Could Turbocharge the US Economy: Cathie Wood

  • Elon Musk Fuels Fed Debate After Reposting Senator’s Critique of Central Bank

  • Cardano Rallies as Trump Rumors Spark Investors Hopes

  • Spot Ethereum ETF Options Decision Delayed by SEC Ahead of Nov.11 Deadline

ARK Invest CEO Cathie Wood believes a “changing of the guard” at the United States SEC could turbocharge the economy.

  • Wood explained in a recent ARK Invest video that deregulation, agency defunding, tax cuts, and tech-driven innovation will accelerate U.S. economic growth.

  • She criticized the SEC as a barrier to the digital asset space, and also pointed out that many skilled professionals left the U.S. due to SEC Chair Gary Gensler's stance.

  • Wood is optimistic for the crypto sector under President-elect Donald Trump, especially because of his more favorable view of Bitcoin and his potentially broader support for crypto and DeFi.

Elon Musk very subtly revealed that he supports dissolving the Federal Reserve after reposting a statement from Senator Mike Lee.

  • Senator Lee criticized the Federal Reserve’s autonomy after Chairman Jerome Powell stated he would not step down if asked by President-elect Donald Trump.

  • Lee’s opinions reflect the much broader dissatisfaction with the Federal Reserve. Several critics, including Bitcoin advocates, argue that centralized monetary control causes inflation and weakens fiat currency.

  • Although Elon Musk’s repost was not a formal confirmation of his stance on the matter, it did amplify the debate about the Federal Reserve's influence and future.

Cardano rebounded in November due to speculation around founder Charles Hoskinson’s potential involvement in the Trump administration.

  • ADA’s price surge is part of a broader crypto market rally after pro-crypto candidate Donald Trump’s reelection on Nov. 6.

  • Speculation and rumors about Cardano founder Charles Hoskinson’s possible role in the Trump administration’s 2025 plans further fueled ADA’s rally.

  • Hoskinson clarified that while Cardano is opening an office to engage with government officials, there has been no formal invitation from Trump’s team. Trump has also not announced a dedicated crypto policy group either, which means that ADA’s price boost is mostly driven by speculation.

⏳️ Spot Ethereum ETF Options Decision Delayed by SEC Ahead of Nov. 11 Deadline

The U.S. SEC delayed its decision on allowing options tied to spot Ethereum ETFs to be listed on the NYSE American exchange.

  • If approved, the NYSE may soon list options for Ethereum-focused funds, including the Bitwise Ethereum ETF, Grayscale Ethereum Trust, and other Ether-holding trusts.

  • This could soon become a reality as the SEC recently approved options trading on Bitcoin ETFs across the NYSE American, Nasdaq, and Cboe Exchange.

  • Final approval for listing Ethereum ETF options will require clearance from both the CFTC and the OCC.

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