🔥 XRP ETF UPDATE - GAME-CHANGING OPPORTUNITY FOR HOLDERS! 🔥
Ripple and XRP enthusiasts, the moment you’ve been waiting for has arrived! Here’s what’s unfolding:

📜 SEC's Ruling Signals Big Shifts for XRP
In a groundbreaking update, the SEC’s recent rulings have begun to shift in favor of Ripple and XRP, signaling potential regulatory clarity. This critical development opens the door for the introduction of an XRP ETF, following in the footsteps of Bitcoin’s recent successes with Exchange Traded Funds (ETFs).

Key Takeaway:
The SEC’s evolving stance on XRP indicates that the token is likely to be recognized as more than just a "security," paving the way for broader institutional adoption and further mainstream integration of XRP.

💡 What Does an XRP ETF Mean for the Token’s Future?
1️⃣ Institutional Capital Influx
An XRP ETF approval could bring in billions of dollars from traditional financial institutions. With ETFs, XRP would gain access to a larger pool of investors, including major banks and financial firms, significantly increasing its market value.

2️⃣ Enhanced Market Liquidity
With the introduction of an ETF, XRP would become more accessible to the broader market. This would result in increased liquidity, offering easier entry and exit points for investors, which could drive up the demand and volume for XRP.

3️⃣ Massive Price Surge Potential
An XRP ETF could serve as a price catalyst, triggering a surge as institutional investors rush to enter the market. Experts predict that once an ETF is in place, XRP’s price could break past crucial resistance levels and achieve significant gains.

📈 XRP Price Forecast Post-ETF Approval
- Short-Term Target: $1.50 - $2.00
- Long-Term Potential: $5 - $10, depending on adoption rates and market conditions.

🚨 Insider Rumors: XRP ETF Could Be Announced in Early 2025
🚀 Expert Insight: Analysts are eagerly speculating about the potential approval of an XRP ETF in the first quarter of 2025, especially as institutional interest grows.

💼 Institutional Watch: Rumors are swirling that major firms like BlackRock and Fidelity are preparing XRP-related financial products, making the future of XRP even more promising.

🔔 What Should XRP Holders Do Now?
1️⃣ Stay Updated: Follow official news from both Ripple and the SEC for any updates regarding the ETF decision.
2️⃣ Hold or Accumulate: If you believe in XRP’s future, it may be a great time to hold or accumulate more before any price surges triggered by ETF approval.
3️⃣ Prepare for Volatility: As the market reacts to potential ETF news, expect possible price fluctuations—so be ready to make moves when needed.
Conclusion:
Big things are happening for XRP, and with the SEC’s ruling and the potential launch of an ETF, the future looks bright for Ripple’s flagship token. 🚀 The increasing involvement of institutional players and the growing interest in XRP ETFs could send the price soaring in the coming months.

What are your thoughts? How high do you think "XRP" can go once an ETF is approved? Let us know in the comments below!
Don't forget to follow us @DeFiOracle and stay updated with Crypto market's updates
#XRP #Ripple #CryptoNews #ETF #SEC

The US Senate has canceled a vote to renominate Democrat Caroline Crenshaw for a second term at the US Securities and Exchange Commission (SEC). The Senate Committee on Banking, Housing, and Urban Affairs announced the cancellation of the vote on Crenshaw's nomination, along with Gordon Ito's nomination to the Financial Stability Oversight Council. Originally scheduled for December 11, the vote was postponed by Senate Banking Committee Chair Sherrod Brown due to disagreements between Democrats and Republicans. Crenshaw, who faced opposition from the crypto industry, is unlikely to be renominated before President-elect Donald Trump's administration returns in January. With current SEC chair Gary Gensler stepping down, the SEC may temporarily have a Republican majority. Trump has nominated pro-crypto Paul Atkins as the new SEC chair, alongside Republican commissioners Hester Peirce and Mark Uyeda. Read more AI-generated news on: https://app.chaingpt.org/news

Ripple Labs showcased their progressive work on stablecoins at their December 2024 summit. The presentation debuted RLUSD, a novel currency invention stabilized against the greenback. This revolutionary stablecoin design ensures clients worldwide have access to a consistent digital dollar for simple financial dealings over borders.

While transactions presently profit from XRP, RLUSD promises further improvements to Ripple’s cross-continental payment solutions. From its inception, Ripple has worked to expand the reach of their network by adapting progressively to alterations in the currency world. This newest product release solidifies their goal of constructing an encompassing economic infrastructure for all.

SEC Leadership Transition Sparks Optimism in Crypto Markets

Chair Gary Gensler unexpectedly exited his role as head of the SEC, vacating the position when Donald Trump was inaugurated as president on January 20th, 2025. Gensler’s tenure was defined by stringent oversight, predominantly targeting cryptocurrency through comprehensive enforcement actions and new regulations.

His departure brings relief to the crypto community, which anticipates a shift towards a more supportive regulatory environment under the incoming administration. President Trump nominated Paul Atkins to fill Gensler’s vacant chair. Previously an SEC commissioner known for his pro-digital asset outlook, Atkins is expected to institute a regulatory approach that is more acceptable to industry stakeholders, mitigating past deterrents that hampered innovation within the nascent technology sector.

XRP’s Market Performance Reflects Renewed Investor Confidence

Following these regulatory changes, XRP, the digital asset powering Ripple’s blockchain payments network, experienced a noteworthy spike in worth. The expectation of a more constructive regulatory environment from the incoming SEC chairman buoyed backer optimism, rocketing the cost of XRP to untouched yearly peaks.

Cryptocurrency scholars propose that the union of Ripple’s progressive upgrades to their distributed ledger system and the anticipated tightening of oversight may additionally reinforce XRP’s role in the crypto economic system. Meanwhile, others caution that regardless of short-term positive factors, longer-term adoption and price action will depend on the achievement of Ripple’s efforts to expand real-world use of their tech beyond just speculative buying and selling.

January 15, 2025: A Pivotal Date in Ripple’s Legal Saga

The legal showdown between Ripple and the SEC is reaching a pivotal juncture. The appellate court has mandated the SEC submit its opening argument by the 15th of January 2025, a deadline that will no doubt influence how this protracted dispute, with its significant implications for determining how digital assets are categorized and policed at the national level, is ultimately resolved. Experts widely agree that the final determination could define cryptocurrency rules across the country for years to come.

Conclusion

As January 15  draws near, the confluence of Ripple’s strategic manoeuvres and the SEC’s change in leadership generates uncertain turbulence for the cryptocurrency industry. Investors, legal minds and other stakeholders will scrutinize both the results of the SEC’s appeal and potential alterations in regulatory stance under new management, developments bearing upon not simply Ripple and XRP but also the cutting-edge course that crypto regulation and development may take within America.

Stay tuned to The BIT Journal and keep an eye on Crypto’s updates. Follow us on Twitter and LinkedIn, and join our Telegram channel to be instantly informed about breaking news!

FAQs

1. What is Ripple’s RLUSD, and why is it significant?

RLUSD is Ripple’s latest stablecoin pegged one-to-one to the American dollar, launching in late 2024. Its debut signifies a pivotal move in the company’s global expansion by further strengthening cross-border payment solutions.

2. Why is January 15, 2025, important for Ripple?

The looming January 15th deadline for the SEC’s principal brief holds great consequences for Ripple’s ongoing lawsuit. This data may influence how cryptocurrency is regulated nationally moving forward.

3. How does Gary Gensler’s resignation impact Ripple’s case?

With Gary Gensler’s resignation and the naming of pro-crypto Paul Atkins as SEC Chair, Ripple’s legal battle is viewed more optimistically. This changing of the guard raises hope for a regulatory environment favourable to Ripple and the broader digital asset space.

4. What role does Caroline Crenshaw’s denial of renomination play in this situation?

Caroline Crenshaw’s denied reappointment plays a role here. Her staunch anti-crypto views drew controversy, so her departure suggests oversight may transition to a less restrictive approach toward digital currencies under new leadership.

Crypto.com has withdrawn its lawsuit against the U.S. Securities and Exchange Commission, which contested the agency’s jurisdiction over specific digital assets.

This decision comes after a meeting between Crypto.com CEO Kris Marszalek and President-elect Donald Trump at Mar-a-Lago on Dec. 16. The two discussed crypto-friendly policies, including Trump’s proposed national Bitcoin reserve.

Honored to have a seat at the table. pic.twitter.com/KvK0XyEdYZ

— Kris | Crypto.com (@kris) December 17, 2024

The lawsuit, initiated in October 2024, sought to prevent the SEC from expanding its authority beyond statutory limits. 

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Wells Notice response

Crypto.com filed the suit after receiving a Wells Notice from the SEC, indicating potential enforcement action for alleged securities violations. Marszalek responded by emphasizing the need for the SEC to respect court rulings and avoid overreach into the cryptocurrency sector.

The recent meeting with President-elect Trump appears to have influenced Crypto.com’s decision to drop the lawsuit.

Trump has expressed support for the cryptocurrency industry. His administration plans to appoint crypto-friendly individuals to key regulatory positions, including Paul Atkins as SEC chair, signaling a potential shift toward more favorable policies for digital assets.

In November, FTX filed a lawsuit to recover over $11 million from a Crypto.com account allegedly controlled by its sister company, Alameda Research.

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Caroline Crenshaw is out. The SEC commissioner, famous for her anti-crypto stance, won’t be getting a second term. The Senate Banking Committee abruptly canceled tomorrow’s scheduled renomination vote. Just like that, one of crypto’s most vocal adversaries is off the field.

Crenshaw’s four-year run in the U.S. Securities and Exchange Commission (SEC) left a trail of tension, frustration, and courtroom battles. Appointed in 2020 under President Donald Trump, she quickly turned into a regulatory thorn for the crypto industry.

Her opposition to Bitcoin ETFs earlier this year might’ve been the final straw. Crenshaw often said that crypto markets were “petri dishes of fraud.” Critics argue she spent her entire term proving that theory instead of helping regulate the space constructively.

Coinbase CEO Brian Armstrong wasn’t subtle about it, saying she was “worse than Gensler.” He added that: “Her policies hurt more than they helped.”

Crenshaw’s crypto blockade

Caroline Crenshaw made headlines in January when she voted against approving spot Bitcoin ETFs. It was a critical moment for crypto. Years of effort by major firms, court battles, and rising public demand pushed Bitcoin ETFs to the center of the financial world. Crenshaw, though, was unmoved.

She voted no, citing fears of market manipulation and inadequate investor protections. She wasn’t alone, but the industry wasn’t having it. A federal court had just ruled that previous SEC rejections were “arbitrary and capricious,” a decision that made Crenshaw’s refusal look like stubbornness at best — hostility at worst.

Ripple Chief Legal Officer Stuart Alderoty was among the first to speak out. “Her position was indefensible after the courts ruled against them,” he said.

Crenshaw once described crypto markets as dangerous playgrounds for fraudsters and manipulators. “Investor safety has to come first,” she said repeatedly.

Crypto’s war with the SEC loses two key players

Under Crenshaw’s watch, SEC enforcement actions ramped up, targeting platforms like Coinbase and Binance for alleged securities violations. The industry’s complaints were loud: regulations were unclear, inconsistent, and overly punitive.

Crenshaw disagreed. She argued crypto firms were ignoring laws that had existed for decades. “The rules are clear,” she said in one meeting, “crypto needs to follow them.”

Leaders like Tyler Winklevoss, CEO of Gemini, accused the SEC of losing credibility under its Democratic leadership. He pointed to Crenshaw’s role in escalating the regulatory war. “The SEC has become hostile, and it’s holding back innovation,” he said.

To many, her policies raised costs and uncertainty without solving the problems she claimed to fight. Compliance requirements tightened. Lawsuits mounted. And innovation? It either slowed or moved offshore.

The Senate’s decision to cancel her renomination suggests those complaints finally resonated. With crypto becoming a bigger political issue, it’s clear Crenshaw’s hardline approach didn’t age well in Washington.

SEC Chair Gary Gensler, her closest ally in cracking down on crypto, recently announced he’s stepping down on January 20, 2025 — the same day President-elect Donald Trump takes office. Gensler’s resignation aligns with Trump’s goal to overhaul financial regulators and reverse “overreach.”

For crypto, it’s a rare win in a regulatory battle that’s felt one-sided for years. The timing is no coincidence. Industry analysts believe Trump’s incoming administration will take a softer approach to crypto. Trump himself has criticized the SEC’s aggressive enforcement strategy, calling it bad for business and innovation.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Trump Expected To Personally Decide On Renomination Of Anti-Crypto SEC Commissioner The Senate Banking Committee has canceled a vote to consider the renomination of Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw. Fox Business reporter Eleanor Terrett said that Democrats could ask to have Crenshaw renominated at the request of Sen. Elizabeth Warren, but the decision on whether to do so will be up to President-elect Donald Trump. Under the rules of Congress, the minority party - in this case, the Democrats - can recommend nominees to fill vacancies on the SEC. The president has the discretion to take their advice, but he is not required to do so. Crenshaw is considered an anti-crypto figure who has, among other things, voted against a spot Bitcoin ETF. She is a close ally of SEC Chairman Gary Gensler. The SEC has been criticized by some for its handling of the cryptocurrency industry, including its decision to delay the approval of a spot Bitcoin ETF. Some believe that Crenshaw's renomination would be a blow to the industry, while others believe that it would not have a significant impact. It remains to be seen whether Trump will renominate Crenshaw. If he does, it will likely be seen as a sign that he is not supportive of the cryptocurrency industry. If he does not, it will be seen as a sign that he is open to working with the industry.

The post U.S. Senate Cancels Vote On Renomination of SEC Commissioner Caroline Crenshaw appeared first on Coinpedia Fintech News

The U.S. Senate Banking Committee has canceled the vote on the renomination of SEC Commissioner Caroline Crenshaw, ending her chances of serving another term. She is widely known for voting against the approval of Bitcoin spot ETFs and her stance aligns with broader concerns about fraud and market manipulation in the crypto sector. She has been a strong opponent of cryptocurrency within the SEC, advocating for stricter oversight, often more so than SEC Chair Gary Gensler. Her departure comes as the cryptocurrency industry pushes for clearer favorable regulations, with major players like Coinbase and Ripple criticizing her anti-crypto stance.

TL;DR

Ripple supporters are optimistic about potential SEC leadership changes, including departures of anti-crypto officials.

Donald Trump’s nomination of pro-crypto advocate Paul Atkins as the next SEC Chairman fuels speculation that the agency may adopt a more innovation-friendly approach, possibly leading to a settlement in the case against Ripple.

The XRP Army Cheers the Rumors

Despite Ripple’s numerous partial court wins, the legal battle against the US Securities and Exchange Commission (SEC) remains ongoing. The tussle was close to a final resolution earlier this year when Federal Judge Torres ordered the company to pay a $125 million penalty for violating certain laws.

While Ripple was ready to abide by the ruling, the securities regulator appealed a 2023 verdict, thus extending the case. After all, the aforementioned fine represented just a fraction of the $2 billion that the SEC initially insisted.

According to some industry participants, though, Ripple has a better chance to emerge victorious due to a combination of factors. Perhaps the most important include the upcoming resignation of the SEC’s Chairman Gary Gensler. He stayed in charge for over three years, during which the agency filed numerous lawsuits against crypto businesses.

The end of his reign was rather expected since Donald Trump promised to fire him after officially becoming president of the United States.

Most recently, the Ripple community celebrated another potential change in the structure of the SEC. According to Eleanor Terrett (journalist at Fox Business), Commissioner Caroline Crenshaw will not be renominated to her position. She is known for her anti-crypto stance, warning about the potential for fraud and manipulation in the sector. Earlier this year, Crenshaw even opposed the approval of the spot Bitcoin (BTC) ETFs.

Those cheering her potential absence from the SEC include popular X users like Moon Lambo and Zach Humphries. Fred Rispoli – an American attorney who has been following the developments of the Ripple v. SEC case – also seemed pleased. 

The New SEC Leader

The Commission might indeed go into a pro-crypto direction next year under the leadership of the upcoming Chairman, Paul Atkins, who was nominated by Donald Trump. He has been a proponent of the cryptocurrency sector, advocating for a regulatory approach that fosters innovation in space while ensuring investor protection.

It will be interesting to see whether the SEC will become less hostile toward the industry during his reign and whether the Ripple case will finally conclude with a settlement. 

The post Good News for Ripple? Anti-Crypto SEC Commissioner Caroline Crenshaw Might Not be Renominated appeared first on CryptoPotato.

The Senate Banking Committee canceled Caroline Crenshaw’s renomination vote.

President-elect Trump plans to appoint a pro-crypto SEC commissioner.

The U.S. Senate Banking Committee has canceled its vote on SEC Commissioner Caroline Crenshaw’s renomination. This decision effectively ends her tenure at the regulatory agency. Scheduled for December 18, the vote was called off due to a lack of legislative floor time, as confirmed by a Senate aide.

BREAKING: A Senate aide has just informed me that tomorrow’s Senate Banking Committee scheduled markup vote on @SECGov Commissioner Caroline Crenshaw has been canceled. She will not be renominated to her position.

— Eleanor Terrett (@EleanorTerrett) December 17, 2024

Crenshaw’s departure comes amidst significant criticism from the cryptocurrency industry. Known for opposing Bitcoin spot ETFs, she cited fraud and market manipulation concerns. Her strict regulatory stance aligned with outgoing SEC Chair Gary Gensler, prioritizing investor protection over market expansion.

Crenshaw has been a vocal opponent of digital assets throughout her tenure. She frequently supported stringent oversight, even surpassing Gensler in her skepticism of crypto markets. Earlier this year, she reiterated that Bitcoin spot products lack adequate protections for consumers.

Crypto Wins as Crenshaw’s Exit Looms

The crypto industry reacted positively to her exit. Key players like Coinbase and Ripple criticized her policies, which they argued stifled innovation. Trade groups, including the Blockchain Association, organized campaigns against her renomination. Over 107,000 emails opposing Crenshaw were sent to Senate offices, highlighting the industry’s influence.

Republicans in the Senate also opposed her renomination. Senator Tim Scott called the vote timing an attempt to further President Biden’s agenda before Donald Trump’s administration takes over. Political friction delayed Crenshaw’s renomination meeting multiple times, ultimately leading to its cancellation.

President-elect Donald Trump will now have the opportunity to appoint a new SEC commissioner. Reports suggest he favors Paul Atkins, a pro-crypto figure, signaling a regulatory shift. Trump has expressed support for a crypto-friendly framework and vowed to include industry advocates in policy-making.

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According to Odaily, attorney John Deaton, known for his support of cryptocurrency, has called for transparency regarding the ongoing controversy surrounding former U.S. Securities and Exchange Commission (SEC) official William Hinman. Deaton emphasized the necessity of publicly releasing the SEC Inspector General's (IG) report on potential conflicts of interest involving Hinman. In a series of posts on X, Deaton highlighted the importance of the findings being disclosed by either the outgoing SEC Chairman Gary Gensler or the incoming chairman Paul Atkins.

Deaton argued that any credible investigation would confirm violations of U.S. financial conflict of interest laws, specifically citing 18 USC 208, a federal law prohibiting conflicts of interest in government positions. He stressed that with the facts presented, it would be possible to demonstrate a breach of this law. Despite the possibility that the SEC IG's report might not uncover evidence of procedural misconduct by officials, Deaton insisted that the public deserves to be informed about the investigation's outcomes. This call for transparency underscores the broader demand for accountability and openness within regulatory bodies, particularly in matters involving potential conflicts of interest.

American attorney, Caroline Crenshaw, has been denied a re-nomination to return as an SEC commissioner by the United States Senate Banking Committee. The update was a welcomed development for the crypto community, as members have openly opposed her reinstatement.

Senate Banking Committee Cancels Re-Nomination Session

According to an update by Fox Business journalist, Eleanor Terret, the scheduled Senate Banking Committee vote which was supposed to take place today has been canceled.

This means that she would no longer be considered for her position moving forward. The announcement published on the Committee’s official website disclosed that the cancelation also affected Mr. Gordon I. Ito’s nomination to be a Member of the Financial Stability Oversight Council.

Caroline Cresnshaw’s vote cancelation | Source: US Senate Banking Committee website

Caroline Crenshaw first served as an SEC Commissioner during Donald Trump’s previous tenure and then continued in office under President Biden. While her term in the SEC ended in June 2024, she is allowed to remain in office for another 1.5 years.

Her final days in office, however, have been flooded with petitions from the crypto community to oppose her re-nomination. Particularly, about 107,000 emails were received for this cause.

All Road Set for XRP Growth?

Last month, the SEC chairman, Gary Gensler announced his resignation from office effective January 20, 2025. This came following an open statement by President Trump, to fire him on his first day in office.

Upon step down, his position would be taken over by a pro-crypto chair, Paul Atkins, who had previously served as a commissioner in the agency from 2002 to 2008. This update resonated well with the XRP community as speculations began to grow about a possible end of the elongated Ripple vs SEC lawsuit.

Meanwhile, the crypto community turned their attention to the removal of Crenshaw from the SEC after Gensler’s case was settled. With the latest update about her nomination cancelation, is the road clear for the anticipated XRP surge?

At this time, all factors seem to align in XRP’s favor. Moreover, Ripple, its parent company, launched its stablecoin, RLUSD, on global exchanges yesterday, December 17 which immediately triggered a 10% growth in XRP’s price.

Now, the next phase is the January 15 outcome. Recall that the SEC is expected to submit its opening brief in the Ripple lawsuit by Jan 15. This part of the court case is strictly paperwork and no new evidence would be admitted.

However, with Caroline Crenshaw not returning as SEC commissioner, the likelihood of the XRP case being dismissed has increased since the Commission would now be led by crypto-friendly figures.

At the time of writing, XRP traded at $2.52, representing a 2.13% decline in the last 24 hours.

XRP Price | Source: coinmarketcap

The post Caroline Crenshaw Will Not Return as SEC Commissioner, Great for XRP? appeared first on Coinfomania.

The crypto industry has achieved a notable victory with the departure of SEC Commissioner Caroline Crenshaw, known for her firm anti-crypto stance. The Senate Banking Committee’s decision to cancel her renomination effectively ends her tenure, signaling potential regulatory shifts. A Controversial Tenure Crenshaw, who joined the SEC in 2020, was a close ally of SEC …

Continue reading "SEC Commissioner Crenshaw’s Exit Sparks Optimism for Crypto"

The post SEC Commissioner Crenshaw’s Exit Sparks Optimism for Crypto appeared first on Cryptoknowmics-Crypto News and Media Platform.

Crypto.com CEO Kris Marszalek recently met with Donald Trump at his Mar-a-Lago resort in Florida to discuss strategies for promoting crypto-friendly policies. The meeting focused on appointing pro-crypto figures to key government roles and exploring ways to overhaul the current regulatory landscape for the cryptocurrency sector.

In a significant move, Crypto.com withdrew its lawsuit against the SEC, signaling a potential shift in the exchange’s approach to U.S. regulations. The lawsuit, filed in October after the SEC issued a Wells notice indicating enforcement action, was dropped on December 16. This decision has sparked speculation that Crypto.com is optimistic about upcoming policy changes under the new administration.

Donald Trump, who recently won the presidential election, has been appointing pro-crypto advocates to prominent positions. Among these are Howard Lutnick of Cantor Fitzgerald as commerce secretary and Paul Atkins to lead the SEC. Additionally, David Sacks, a venture capitalist, has been named the first White House AI and crypto czar. Sacks is expected to shape policies around cryptocurrency and emerging technologies.

The meeting follows a similar engagement last month between Trump and Coinbase CEO Brian Armstrong. These discussions highlight increasing collaboration between crypto leaders and policymakers. Commentators have speculated that plans for a national Bitcoin reserve and broader regulatory reforms could be on the horizon.

Crypto.com, headquartered in Singapore, has faced challenges in the U.S. but continues to expand globally. In August, it became the first crypto sponsor of the UEFA Champions League, a groundbreaking achievement in sports branding. The deal includes in-stadium promotions, broadcast visibility, and worldwide branding efforts.

Despite the regulatory hurdles in the U.S., Crypto.com has made significant progress elsewhere. Last year, the company secured approval from the UK’s Financial Conduct Authority (FCA), earning Electronic Money Institution (EMI) status. This approval has allowed the exchange to strengthen its presence in one of Europe’s most regulated financial markets.

The growing interaction between crypto leaders and government officials signals the increasing influence of cryptocurrency in shaping financial and political policies. With a focus on regulatory clarity and innovative initiatives, Crypto.com and other platforms are striving to establish a stronger foundation for the industry’s future.

The post Gensler Gone, Crenshaw Out, RLUSD Live: Ripple vs SEC Final Showdown on Jan 15? appeared first on Coinpedia Fintech News

It looks like the clouds are clearing for Ripple as recent events have given it a boost, possibly changing the course of its legal battle. Trump’s promise to fire SEC Chair Gary Gensler on day one seems to be coming true, as Gensler announced his resignation on January 20, the same day Trump is inaugurated. This big news helped push XRP to new yearly highs. 

Plus, Ripple’s RLUSD launched on December 17, taking a big step toward global growth. Meanwhile, SEC Commissioner Caroline Crenshaw became a target of the crypto community due to her strong anti-crypto stance and was denied renomination. All of these events could lead to something big on January 15, especially with Paul Atkins soon taking over as SEC Chair. Many are hopeful that this will bring a more relaxed approach to crypto regulation.

What Will Happen on January 15?

The SEC has requested an extension to file its principal brief in the ongoing XRP lawsuit with Ripple Labs. The new deadline for filing is set for January 15, 2025. According to attorney Fred Rispoli, this part of the case is strictly about paperwork — no new evidence or jury trial. There are two appeals in process: one from the SEC and another from Ripple, called a “cross-appeal.” 

Each side will submit an opening brief, followed by an opposition brief, and then a reply brief. Afterward, there will be a 15-minute oral argument in front of three judges. Fred said that while the argument is brief, it will be crucial, as the judges’ questions can provide insight into their initial thoughts on the case. However, he also said that the entire process could take up to a year and a half, despite the short duration of the oral argument.

Even if the legal case continues, supporters remain optimistic that the new government will implement the right measures to support the crypto industry. Another bullish development is that Empower Oversight is urging Congress to release an SEC Inspector General report on former chairman Jay Clayton’s actions. This report could bolster their investigation before Clayton is confirmed as U.S. Attorney for the Southern District of New York.

The post Crenshaw Denied Renomination as SEC Chair, XRP Supporters Celebrate appeared first on Coinpedia Fintech News

Great news for the crypto industry: SEC Commissioner Caroline Crenshaw will not be renominated. According to Fox Business’ Eleanor Terrett, a Senate aide confirmed that the Senate Banking Committee’s scheduled vote on her nomination has been canceled. Crenshaw, who was known for her anti-crypto stance, even opposed the approval of the Bitcoin spot ETF, issuing a dissent.

This victory is seen as a step forward for the crypto community, with many expecting a pro-crypto shift in the SEC under new leadership. Crypto advocates flooded the Senate with 107,000 emails opposing Crenshaw’s renomination, showing the strength of the industry’s voice. Additionally, Senator Cynthia Lummis predicts that 2025 will be a major year for Bitcoin and digital assets, with David Sacks serving as the crypto czar.

Crenshaw, appointed to the SEC in 2020 under the Trump administration and later renominated by President Biden, has been a strong ally of SEC Chair Gary Gensler. She is considered even more anti-crypto than Gensler, especially due to her opposition to key crypto policies.

With Crenshaw not being renominated as SEC Chair, it significantly boosts the likelihood that the SEC will not continue its pursuit of Ripple Labs. This also opens the door for President Trump to appoint someone new, potentially more favorable to the crypto space.

Why Didn’t The Crypto Market React?

When an X user remarked that one would have expected this news to affect the market, attorney Fred Rispoli responded, saying, “These kinds of moves are fairly esoteric, and only the most dialed-in crypto folks are following it. It will probably take 1-2 days to percolate in a wider fashion.”

Eric Balchunas, one of the leading ETF analysts, has poured cold water on the prospects of an XRP exchange-traded fund being approved by the U.S. Securities and Exchange Commission (SEC) in the near future.

In fact, according to Balchunas, the SEC is likely to greenlight a Litecoin ETF before an XRP ETF.

Earlier this month, the SEC reportedly notified at least two of the five prospective issuers that it intended to reject their filings for spot Solana ETFs.

The SEC is widely expected to adopt a more crypto-friendly stance next year after pro-crypto libertarian Paul Atkins was nominated to replace SEC Chair Gary Gensler. However, this does not mean that XRP ETFs will be greenlit shortly after Atkins starts his term, according to Balchunas.

Both XRP and Solana have faced "complex legal issues," so these issues have to be resolved before the SEC will be able to approve spot ETFs.

However, neither Litecoin (LTC) nor Hedera (HBAR) has ever been called a security by the SEC, which makes their path to a spot ETF less complicated, according to Balchunas.

At the same time, the analyst has cautioned that it is unclear whether there is enough investor demand for the ETF products that were recently filed by Canary Capital.

Donald Trump won the election, Bitcoin is literally worth over $107,000 right now, and Wall Street’s now drooling over crypto like it’s the new gold rush. Sounds perfect, right? Except it actually isn’t.

Thanks to Trump, crypto is sinking its claws deep into everything. Wall Street, banks, pensions, 401(k)s—places it never belonged. That’s great for investors I guess, but if you ask me and any other true Bitcoin believer, there’s a dark reality behind the hype.

It is an unwritten law of the world that whatever goes up must eventually come down. So no matter how high Bitcoin goes, it will crash in the end. And the scary part is when it does, it’ll be the worst we’ve ever seen. Naturally, since the market has never reached current levels.

The higher the stakes, the worse the crash. Just ask Wall Street bros. For years, crypto’s appeal was its independence from the system. Now, the system is embracing it. We’re not the rebels anymore, we’re the establishment.

At the July Bitcoin Conference, Trump threw out an idea that stunned everyone—a “strategic national Bitcoin stockpile.” Analysts are taking this seriously. Under Trump, the U.S. could actually start hoarding Bitcoin like it’s gold. If that sounds insane, it gets wilder. This guy wants $15 trillion in Bitcoin reserves.

Even before his election win, the floodgates were opening. BlackRock and other financial giants launched Bitcoin ETFs, giving ordinary investors access to Bitcoin through their brokerage accounts. Crypto is breaking into mainstream finance at full speed but with zero brakes.

Trump’s crypto army is dismantling the rules – There will be costs

After the last crash in 2022 when Bitcoin fell apart and billions evaporated, the industry didn’t actually stop. There was no new “killer app” or game-changing technology to win back trust. Instead, they played politics.

Over $130 million poured into political campaigns during this year’s election cycle. The crypto industry sold lawmakers on a story: ignore us at your own risk because “crypto voters” are coming for you. The pitch was brilliant, even if the “crypto voter” narrative was stitched together out of thin air.

Trump ran with it. His administration is already lining up crypto loyalists for key regulatory roles. Paul Atkins, a longtime critic of financial oversight and a strong crypto lover, is Trump’s pick to lead the SEC. 

Under him, the crypto industry will face less scrutiny, not more. If you think fraud was bad in 2022, just wait. Though Trump’s playbook doesn’t stop at gutting the SEC. As we speak, Congress is working to move crypto oversight to the Commodity Futures Trading Commission (CFTC).

Compared to the SEC, the CFTC is frankly quite underfunded and far less experienced with crypto’s retail-heavy markets. The result? A regulatory free-for-all, exactly what the industry wants.

The CFPB is next. The Consumer Financial Protection Bureau was created after the 2008 crash to protect consumers from predatory financial practices. Crypto’s biggest names hate it. Marc Andreessen slammed the agency, calling it a roadblock for crypto firms.

Elon Musk doubled down, telling the government to “delete CFPB.” To be fair, these guys have a point.  If Trump and Congress gut the CFPB, it’s open season for crypto platforms, fintech startups, and shady payment systems.

Tens of thousands of people were left stranded when Synapse, a fintech company backed by Marc, collapsed earlier this year. That kind of chaos would only get worse without consumer protections.

Banks and pensions are playing with fire

The last time crypto imploded, banks were relatively safe. Pension funds and 401(k)s barely felt a thing. Regulators made sure of that. The 2022 crash was brutal for retail investors, but hey, at least it didn’t trigger a financial meltdown. That firewall is now crumbling.

The SEC’s approval of Bitcoin and Ether ETFs opened the door. Banks and traditional investment firms are stepping in, eager to capitalize on crypto’s new wave. Now retirement administrators are adding Bitcoin exposure to 401(k) plans. The industry is even fighting to hold crypto directly on their balance sheets.

It’s not hard to see where this is heading. Crypto firms have already fought to kill protections like SEC Staff Accounting Bulletin 121. The rule forced banks to disclose crypto holdings and keep reserves to back customer assets.

Lawmakers passed a bill in early 2024 to overturn it, but Biden vetoed the attempt. Trump won’t. Under his leadership, those protections will vanish, leaving banks fully exposed.

But the president’s plans aren’t just about deregulation. His World Liberty Financial project—a decentralized finance (DeFi) platform—is already spending millions on crypto acquisitions. Reports say the project burned through $45 million in December alone.

The real endgame

FTX founder Sam Bankman-Fried spent over $100 million buying political influence. He pitched lawmakers a vision of a regulated crypto future, where firms could “self-regulate” and innovation would flourish. It was a scam. FTX blew up, and billions of dollars disappeared overnight.

The crypto industry hasn’t changed. It’s still lobbying hard against regulations. It’s still pushing lawmakers to look the other way. And now it has Trump in its corner.

I’d feel safer if I actually trusted that these guys truly believe in Bitcoin. But I don’t, because, at the end of the day, politics really is just politics. If Bitcoin wasn’t going to make Trump richer in any way at all, how many of you can say for a fact that you believe he’d still be all in?

Let’s not be delusional. Every bull run ends in collapse. And every collapse leaves devastation in its wake. The difference now is Bitcoin has grown too big to fail.

A crypto crash under Trump wouldn’t just hurt retail investors and break my heart. It would hit the banking system, pension funds, and the entire global economy. So as we watch Mr. Trump recite the oath of office, beware that a countdown will be starting.

How long do we have until the next ‘crypto winter’?

US Senate Banking Committee Cancels Anti-Crypto SEC commissioner Caroline Crenshaw's Renomination

Ding dong! The wicked witch is dead!

Jokes aside, Caroline Crenshaw, a prominent and controversial figure in the SEC known for her staunch anti-crypto stance, will not serve a second term.

The US Senate Banking Committee abruptly cancelled her renomination vote, originally scheduled for 18 December, citing a lack of legislative floor time.

🚨BREAKING: A Senate aide has just informed me that tomorrow’s Senate Banking Committee scheduled markup vote on @SECGov Commissioner Caroline Crenshaw has been canceled.

She will not be renominated to her position.

— Eleanor Terrett (@EleanorTerrett) December 17, 2024

This decision effectively ends her tenure, marking a pivotal moment for the cryptocurrency industry.

Crenshaw's four years at the SEC were marked by tension and courtroom clashes, particularly over her opposition to Bitcoin ETFs and her repeated characterisation of crypto markets as "petri dishes of fraud."

Critics argue that instead of fostering constructive regulation, her policies hindered progress in establishing a clearer framework for the sector.

NEWS: The Senate Banking Committee is abandoning its effort to advance the nominations of SEC Commissioner Caroline Crenshaw and Gordon Ito to serve on FSOC.

A Banking aide said the committee vote scheduled for tomorrow will be canceled and cited the lack of floor time

— Brendan Pedersen (@BrendanPedersen) December 17, 2024

Her departure comes as the industry continues to advocate for transparent and balanced regulatory approaches. Companies like Coinbase and Ripple have openly criticised Crenshaw's perceived hostility toward crypto innovation.

Despite her firm stance on prioritising investor safety, her approach has left a legacy of frustration among major players in the digital asset space.

Community Celebrates Crenshaw's Renomination Vote Getting Scrapped

The Senate's move to cancel Caroline Crenshaw's renomination signals a shift in Washington's approach to crypto regulation, reflecting growing dissatisfaction with her hardline stance.

As cryptocurrency emerges as a key political issue, her uncompromising methods seem increasingly out of step with the changing landscape.

Tim Scott (R-S.C.), the incoming Senate Banking Committee Chair, welcomed the news with an emphatic, "Praise the Lord," after Punchbowl News reported the cancellation—the second time Crenshaw's vote has been scrapped.

Writing a story quoting someone saying a vote is "deader than disco" was not on my Bingo card for this year
Earlier reported by Punchbowl News, reaction story here: https://t.co/NlGZu3jCrk

— Sarah Wynn (@ForTheWynn_) December 17, 2024

When enquired about the news at the Blockchain Association Policy Summit, he said:

"It's common sense. Let the Trump administration make their choices and listen to the voters most importantly."

Scott added:

"What we saw from the SEC, including [SEC Chair Gary] Gensler, as well as Crenshaw, was exactly the opposite."

Crenshaw Could Still Be Renominated; is Victory Premature?

The crypto community may be celebrating Crenshaw's exit, but popping the champagne might be premature.

🚨 BREAKING: The Senate Banking Committee has just pulled the plug on SEC Commissioner Caroline Crenshaw's renomination!

Many in the crypto world see this as a win, calling her stance even more "anti-crypto" than SEC Chair Gary Gensler. #SEC #CryptoNews pic.twitter.com/rNFI9G1sG3

— CLONE sosa king jr 🐉 (@sosakingkv) December 17, 2024

Crenshaw remains on the SEC commission until a replacement is confirmed or until Congress adjourns next year.

Traditionally, the minority party — in this case, the Democrats — recommends nominees for minority seats on the commission, as noted by Fox Business journalist Eleanor Terrett.

🚨NEW: So now what?

Crenshaw is still on the commission and has the ability to serve until her replacement is confirmed, or until Congress adjourns next year.

Per Congressional process, the minority party (in this case it will be the Democrats) usually recommends nominees to… https://t.co/3bnGLw8wHO

— Eleanor Terrett (@EleanorTerrett) December 17, 2024

However, the President is not obligated to follow their suggestions.

Despite widespread applause from crypto advocates, it is possible that Democrats, with backing from figures like Elizabeth Warren, could propose Crenshaw for renomination.

Ultimately, Trump will decide whether to keep her in the mix.

Crenshaw's anticipated exit, alongside SEC Chair Gary Gensler and Commissioner Jaime Lizárraga, signals a significant shift at the agency in early 2025.

Once these departures take effect, the SEC will be left with three Republican commissioners — Mark Uyeda, Hester Peirce, and recently-appointed Chair Paul Atkins — to lead the agency.

However, by law, at least two Democratic commissioners are required to maintain bipartisan balance.

For the crypto industry, Crenshaw's departure is a rare win in a regulatory landscape that has long felt adversarial.

WHEN WE STAND WITH CRYPTO, WE WIN 🛡️

After receiving over 100K emails from Crypto Advocates, the Senate has decided NOT to move forward with Caroline Crenshaw's nomination.

Another reminder that your voices matter and that the future is ours. https://t.co/auvNNv5Cab pic.twitter.com/pE1fFtqCZb

— Stand With Crypto🛡️ (@standwithcrypto) December 17, 2024

The timing is no coincidence, as analysts predict the Trump administration will adopt a more crypto-friendly stance.

Trump has been openly critical of the SEC's aggressive enforcement approach, calling it detrimental to business and innovation.

His nomination of Atkins, a known libertarian and advocate for crypto, as the new SEC Chair underscores this potential policy shift.

Still, while the celebrations continue, one question lingers: Is this victory too soon to call?

This is great news for the industry

We need people betting on America, not against innovation in America

— Boz 🛡️ (@boz_menzalji) December 17, 2024