On Thursday (November 28), Bitcoin rebounded to above $96,500 before falling back to around $95,700. Dogecoin's intraday gains exceeded 8%, and the first Dogecoin exchange-traded product (ETP) announced its listing in the Nordics. Bloomberg quoted insiders revealing that President-elect Donald Trump's transition team has interviewed senior financial regulators and conservative financial circle behind-the-scenes operator Paul Atkins as a candidate for the SEC chair.
Trump team interviews 'Atkins,' expected to succeed SEC chair
Insiders say Atkins is the top candidate to succeed the outgoing SEC chair Gary Gensler, but they are not authorized to speak publicly. They indicated that Trump is expected to make a choice in the coming days, and no decision has yet been made.
According to U.S. media reports, current SEC commissioner Mark Uyeda, former Commodity Futures Trading Commission (CFTC) chairman Heath Tarbert, and Willkie Farr & Gallagher LLP partner Robert Stebbins are also under consideration.
Trump spokesperson Caroline Levitt stated in a statement: 'Trump made a wise decision at lightning speed about who will serve in his second administration, and the remaining decisions will be announced by him.'
Atkins served as a Republican commissioner at the SEC during the George W. Bush administration, and he later founded Patomak Global Partners, a company that provides consulting for major financial industry clients.
He is a staunch supporter of digital assets and fintech companies, and he has testified before Congress on how to restructure the agency's operations and reduce what some industry insiders consider redundant or overly cumbersome regulation.
Trump promised to fire Gensler on 'Day One,' who has announced he will leave his position on January 20, 2025. Following a series of high-profile collapse events, including the collapse of the FTX cryptocurrency exchange led by Sam Bankman-Fried, Gensler's SEC has developed an ambitious agenda to combat cryptocurrency.
Bloomberg points out that the cryptocurrency industry often criticizes Gensler for making regulations through enforcement rather than clearly outlining how to comply with the rules, and this practice may change with the new administration. Trump described cryptocurrency as a scam against the dollar during his campaign but later welcomed it. He promised supporters that he would establish a strategic Bitcoin reserve, appoint cryptocurrency-friendly regulators, and end the outgoing administration's 'anti-cryptocurrency campaign.'
It is expected that under the leadership of the new head, the U.S. Securities and Exchange Commission will continue to focus on its core work: rooting out fraud, combating insider trading, preventing Ponzi schemes, and curbing inaccurate, misleading, or overly exaggerated disclosures.
The first Dogecoin ETP listed in the Nordics
Bitcoinist reports that Valour Inc. launched the Dogecoin ETP on the Swedish Spotlight Stock Market, marking the world's first Dogecoin ETP listed in the Nordics. According to the press release, the new Dogecoin ETP will effectively expand the product offering and audience of decentralized finance (DeFi) companies. Currently, Valour offers access to a variety of regulated digital asset ETPs, including Bitcoin, Ether, and many mainstream cryptocurrencies.
The company has about 40 ETPs on exchanges, with total assets under management (AUM) of $609 million. With the new Dogecoin ETP, Valour can extend its services to new markets and investors, while Dogecoin is expected to gain wider adoption.
Valour reveals that the recently launched Dogecoin ETP will allow investors to more smoothly access this popular meme coin, enabling them to understand its market performance without bearing the risks or complexities of directly owning cryptocurrency.
Valour's product manager Elaine Buehler revealed this latest development, stating that the launch of the world's first Dogecoin ETP marks an important milestone in line with the company's mission to democratize digital assets. Additionally, she expressed excitement about launching a product that captures the essence of the active Dogecoin community and market influence.
Bitcoin technical analysis
Economies.com states that the Bitcoin price successfully reached the awaited target of $95,820 and attempted to break through it, suggesting more increases in the coming trading days, paving the way for new rises, with the price expanding to $100,000 as the next major station.
Considering the failure to confirm a breakout above $95,820 would put negative pressure on prices, the target is to test $91,855 again.
