Is Gary Gensler finally signing off

GM. It is the Every day Squeeze, the place we crush crypto complexities right into a wealthy, fruity mix of reports and evaluation.

📢 Gary Gensler updates.

🍊 Information drops: McDonald’s is collaborating with Doodles, Bitfinex hacker will get sentenced to 5 years + extra

🍍 Market taste at this time

Appears just like the market’s getting a bit extra humble – the Concern and Greed Index slipped from “Excessive Greed” to “Greed” at 80. Bitcoin could not maintain the $90K line and is now hanging round $88K.

So, keep in mind when yesterday all of us received excited concerning the Fed probably chopping charges in December? Nicely, Fed Chair Jerome Powell poured some chilly water on that concept, saying the economic system is not giving any indicators that they should rush into reducing charges. Cue Bitcoin taking a 3% dip after the information.

The ripple impact hit BTC ETFs, too. After a candy streak of giant inflows, they noticed $400.7M head for the exit yesterday.

However do not let that freak you out. MicroStrategy’s important man, Michael Saylor, is disregarding any speak of Bitcoin sliding again to $60K – a value degree that dominated a lot of 2024. Saylor says Donald Trump’s win has “very decidedly” set the long run for crypto and Bitcoin within the US, including, “I do not actually see any threats on the near-term horizon.” Oh, and he is already planning the $100K celebration. Yo, M-Canine, we’re homies, proper? 😃 I am invited… proper? 😃

Backside line: The market is perhaps catching its breath, however the large gamers are nonetheless all-in. Possibly it is time we take a web page out of Saylor’s e-book and hold our eyes on the prize. In any case, at this time’s dip could possibly be tomorrow’s golden alternative 🏆

🔍 Maintaining with Gary Gensler

Final week, we talked about Donald Trump’s large promise to kick out SEC Chair Gary Gensler, which might’ve taken without end with all the required procedures.

However what – and I gotta say, I do not actually consider in miracles, however there is not any different rationalization right here – Gensler may’ve simply finished the job for Trump. This is the closing line of his latest speech:

“I have been proud to serve with my colleagues on the SEC who, day in and time out, work to guard American households on the highways of finance.”

TELL ME THIS IS NOT A FAREWELL NOTE. Does this imply that the regulatory struggle towards crypto is over? Nicely, do not get too excited simply but – nothing’s confirmed. However the hopes are undoubtedly up.

In that very same speech, Gensler additionally took a visit down reminiscence lane to have fun the SEC’s achievements for crypto – crypto ETFs, … umm…  I assume that is just about it. Oh, he additionally gave the impression to be happy with classifying practically 10K tokens as “unregistered securities.” 

After this fast recap, Gensler then served the traditional: crypto dangerous, investor lose and cry = rip-off. Actually, all of the speech was lacking was, “My time right here has been… wonderful.” 😈

Once all of the crypto bros have prayed sufficient and Gensler is admittedly out – somebody’s gonna have to take the crown. We dropped some names for potential replacements final week, which you’ll try right here.

However guess what? Rumors additionally hinted that ex-CFTC Commissioner Chris Giancarlo, aka Crypto Dad, is perhaps within the operating. Besides these rumors stay simply that, for the reason that man himself confirmed it isn’t gonna occur (sorry to interrupt it to you). He mentioned:

“I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess within the CTFC and do not wish to have do it once more.”

On one hand, it is a disgrace. However on the opposite – such sick bars are at all times a delight. Temper rn – this:

And if that roast wasn’t sufficient to quench that thirst for revenge, here is the cherry on prime: 18 US states filed a lawsuit towards the SEC and Gensler for overstepping their authority.

Principally, the states are saying that they ignored division of energy, making an attempt to take full management over crypto regulation via enforcement.

If this lawsuit would not work, then idk, man. Can we simply… launch the hounds? Only a thought, only a remark, do not sue me for this.

📰 Information drops

🍟 McDonald’s is teaming up with Doodles – the artistic model that received its begin as an NFT mission. They’re launching a marketing campaign known as “GM Unfold Pleasure,” full with limited-edition McCafé cups that includes Doodles-inspired designs.

⛓ Ilya Lichtenstein, the mastermind behind the 2016 Bitfinex hack that stole $385.1M in crypto, was sentenced to 5 years. Prosecutors really helpful a lighter sentence as he had no prior prison file, helped out in investigations, and did not pull off a profitable laundering job.

🏦 Hong Kong’s Financial Authority (HKMA) is looking out some crypto corporations for sketchy practices. These firms have been utilizing the time period “financial institution” to make themselves look extra legit and acquire belief – regardless of missing the licenses to again it up.

🏈 Russell Okung, Carolina Panthers star, is ensuring gamers in his new flag soccer league – fittingly known as Bitball – receives a commission in Bitcoin. He is finished with middlemen taking a slice or shady offers behind the scenes, so he is making a league targeted on pure sport and actual alternatives for gamers.

💰 Pennsylvania lawmakers have launched a brand new invoice that may enable the state treasury to stash as much as 10% of its steadiness sheet in Bitcoin. Rep. Mike Cabell, who put the invoice ahead, says BTC could possibly be a strong defend towards inflation.

🤖 Rumor has it that OpenAI is getting ready to launch a brand new AI agent, codenamed “Operator,” that’ll independently deal with duties for customers – writing code, reserving journey, and extra. It is reportedly set for a January debut as a analysis launch, plus it’s going to be accessible to builders via OpenAI’s API.

🍌 Juicy memes