Happy Thursday! In today's Daily, SEC Chair Gary Gensler is stepping down, the regulator is suddenly engaging with U.S. spot Solana ETF applicants, spot Bitcoin ETFs top $100 billion in AUM and more.
Meanwhile, bitcoin heads toward $100,000 as the post-election momentum continues.
Let's get started.
SEC Chair Gary Gensler will step down on Jan. 20, 2025, coinciding with the start of President-elect Donald Trump's term, according to a statement released by the agency on Thursday.
The SEC is now "engaging" with applicants on spot Solana ETFs, Fox News reporter Eleanor Terrett first reported, citing two people familiar with the matter, and confirmed by The Block with a source at one issuer.
U.S. spot Bitcoin ETFs surpassed $100 billion in combined assets under management on Wednesday — representing around 5% of bitcoin's total market cap — driven by the cryptocurrency's ongoing price rally.
Sui Network, a Layer 1 blockchain developed by Mysten Labs, failed to produce new blocks on its mainnet for nearly two hours on Wednesday, leaving the blockchain effectively stalled before a patch could be deployed.
Tron founder Justin Sun purchased Maurizio Cattelan's famous artwork "Comedian," featuring a banana duct-taped to a wall, for $6.24 million at a Sotheby’s auction in New York on Wednesday night.
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