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SEC Chair Expected to Resign After Biden Exit!
10x Research predicts Gary Gensler will resign by January/February 2025 if Trump wins the election.
Danielle du Toit
July 22, 2024
Here's what we've got for you today:
Gary Gensler Will Likely Resign in 2025 After Biden Exit, Says 10x Research
US Bitcoin ETFs Shatter Records with $17 Billion Inflows
Mt. Gox Wallet Transfers Small Amount of Bitcoin to Bitstamp: Arkham
Metaplanet Shares Up 20% as Company Buys Another 20 BTC
10x Research predicts that SEC Chair Gary Gensler will likely resign within the first two months of 2025 after President Joe Biden finishes his term at the White House.
10X Research founder Markus Thielen predicts that Gensler will likely resign by January/February 2025, despite his term only ending on June 5 of 2026.
Thielen pointed out that SEC Chairs typically resign when a new administration takes office, suggesting that Gensler’s role would be in jeopardy if Trump gets elected.
Trump’s running mate, J.D. Vance, has openly criticized Gensler and even called him the “worst person” to regulate crypto assets because of his backward and overly politicized approach to crypto policy.
Farside Investors data reveals that the 11 US spot Bitcoin ETFs have cumulatively netted more than $17 billion in inflows.
BlackRock's IBIT accumulated $18.968 billion, with Fidelity’s FBTC also contributing $9.962 billion in inflows.
BlackRock's Bitcoin holdings have surged above $20 billion in value, which was in part driven by the firm’s recent purchase of 4,004 additional Bitcoin.
Bitcoin whales are also easing off their selling pressure as Bitcoin gained some strength over the past week.
Mt. Gox transferred 0.021 BTC, worth approximately $1,400, to a new wallet earlier this morning.
One of the recipient addresses is labeled by Arkham as belonging to the centralized crypto exchange Bitstamp.
Bitstamp previously announced that it plans to distribute its portion of the Bitcoin repayments to Mt. Gox creditors "as soon as possible" once it is received.
Kraken received its share of the repayments on July 16, while Japanese exchanges Bitbank and SBI VC Trade have already received and distributed their allocated funds.
Japanese investment firm Metaplanet spent more than $1.2 million to buy more Bitcoin.
Metaplanet announced on X that it bought 20.38 BTC for ¥200 million, or $1.2 million, increasing its total Bitcoin reserves to 245.992 BTC.
After the news, Metaplanet’s shares on the Tokyo Stock Exchange surged over 20%, reaching $1.1.
This acquisition came after the firm's recent purchase of an additional 21.8 BTC to protect the company from Japan’s economic challenges.
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