SEC rejecting Solana ETFs is Gensler’s ‘parting gift’ to crypto industry – Bloomberg analyst

In addition to allegedly refusing any new crypto-related ETF filings, Gensler's administration filed a brief on the Binance lawsuit.

Dec 07, 2024

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In today's crypto landscape, significant developments are reshaping the industry. The SEC's anticipated rejection of Solana ETF applications is being dubbed as Gary Gensler’s “parting gift” to the sector, as his administration continues to take a stringent stance against new crypto-related filings. Meanwhile, Coinbase's Paul Grewal has shed light on the controversial Operation Chokepoint 2.0, urging banks to reconsider their crypto services amid rising regulatory scrutiny. In a striking commentary, former US Treasury Secretary Larry Summers has dismissed the notion of Bitcoin reserves as a "crazy" idea, highlighting ongoing debates within financial circles about the viability of cryptocurrencies as stable assets. Stay tuned for detailed insights on these pivotal issues affecting the future of digital assets.

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The global crypto market cap is $3.64 trillion, with a 24-hour volume of $191.51 billion. The price of Bitcoin is $99,729.25, and BTC market dominance is 54.2%. The price of Ethereum is $4,003.32, and ETH market dominance is 13.2%. The best-performing sector is eCommerce, which gained 12%. The Crypto Fear & Greed Index is currently Greed (75).

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