The United States Senate Banking Committee is set to vote on December 11 to determine whether Caroline Crenshaw will be renominated as Commissioner of the Securities and Exchange Commission (SEC), a position she has held since August 2020. If approved, Crenshaw will remain in office until 2029. However, if the Senate rejects the renomination, the incoming President will have the authority to appoint her replacement.
In contrast, the crypto industry has responded enthusiastically to the President’s recent nomination of Paul Atkins as the next SEC Chair. Atkins, who previously served as SEC Commissioner from 2002 to 2008, is known for his market-friendly stance and focus on simplifying financial regulations.
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Why Crypto Opposes Crenshaw
Crenshaw’s tenure has been marked by strong opposition to cryptocurrency initiatives, particularly her resistance to approving spot Bitcoin exchange-traded funds (ETFs). In her dissenting letter opposing the SEC’s potential approval of such ETFs, Crenshaw described the decision as “unsound and ahistorical.” She wrote:
> “I fear that today we are paving the way for tomorrow’s failure. Investors bear the burden of this decision, as they will ultimately pay the price.”
Her stance has earned her criticism from prominent crypto figures. Bloomberg ETF analyst James Seyffart described Crenshaw as “even more aggressively anti-crypto” than current SEC Chair Gary Gensler, who is already regarded as a tough regulator in the space. Seyffart highlighted her alignment with Gensler’s policies, portraying her as a staunch ally in the SEC’s efforts to tighten crypto regulations.
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Industry Leaders Voice Concerns
The crypto community’s frustration with Crenshaw’s
#CryptoIndustry #Memerally #SUSHI2025Plans

Donations from the U.S. crypto industry have reached record levels, surpassing $190 million as the election cycle approaches its final stretch, reported CNBC on October 20.
This increase is significant compared to previous election cycles, with nearly a thirteenfold jump from the $15 million spent in 2020.
Impact on Key Congressional and Senate Races
The crypto industry has started to heavily invest in key congressional and senate races with the goal of shaping future U.S. regulatory policy. Data from the Federal Election Commission (FEC) shows that crypto companies have contributed nearly half of all corporate donations, with more than $130 million directed toward congressional races, including primaries. This highlights the industry's effort to strengthen pro-crypto representation.
Influence on Both Political Parties
The super political action committee (PAC) Fairshake, known for its support of cryptocurrency and blockchain policy, is among the leading spenders. In September, it distributed nearly $29 million, with $20 million of that going to two affiliated PACs: $15 million to PAC Defend American Jobs, supporting Republicans, and $5 million to Protect Progress, which favors Democrats.
Fairshake also directed $8.8 million to competitive races in New York, Nevada, and California. Republican candidates David G. Valadao and Michael Garcia from Southern California received $1.3 million and $1 million, respectively, for their tight races.
While more funds have been directed to Democrats in recent months, donations remain fairly balanced between both parties. In September, Democrats received $6.2 million, while Republicans received $2.3 million.
California as a Key State
California is a critical state for the crypto industry due to its high concentration of blockchain companies. The political landscape of this state will be key for future regulatory developments, and the industry's donations reflect this. Analyst James Delmore told CNBC that supporting candidates in California’s districts is crucial, not only to ensure pro-crypto policymakers but also to maintain California’s position as a hub for the crypto industry.
In addition to California, donations have been directed to key states like New York, Nevada, and Illinois. Protect Progress has also invested over $10 million in supporting Democratic Senate candidates in Arizona and Michigan.
Long-term Strategy of the Crypto Industry
As the crypto industry continues to grow in political influence, the large donations flowing into key races underscore its long-term strategy to shape the future regulatory environment in the U.S.
#CryptoPolitics , #CryptoNews🚀🔥 , #Election2024 , #CryptoIndustry , #Debate2024

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The decentralized finance (DeFi) ecosystem continues to grow despite various challenges in the cryptocurrency market. According to a new report by venture capital firm Andreessen Horowitz (a16z), the use of cryptocurrencies has reached record levels.
The #CryptoIndustry Sees Significant Growth
In its "State of Crypto" report released on October 16, a16z noted a sharp increase in activity within the crypto industry over the past year. The growth trajectory of this sector is compared to the early adoption of the internet.
For example, in September 2024, over 220 million addresses interacted with blockchain protocols, more than three times the number recorded at the end of 2023. Around 100 million of these active addresses were on the Solana (SOL) blockchain, which has seen a massive surge in activity.
Other networks that have experienced similar growth include Near Protocol (NEAR), Coinbase's Base layer-2 network, Tron (TRX), and Bitcoin (BTC).
Stablecoins and Cryptocurrency Regulation
The report also highlights key metrics and challenges facing the crypto space since the first a16z State of Crypto report in 2023. One notable finding is that cryptocurrencies have become a significant political issue in U.S. elections, although the United States still lags behind the European Union and the UK in terms of public engagement with crypto regulation.
The market has also seen considerable developments around stablecoins, including their regulation and usage. Stablecoins have grown to become some of the 20 largest holders of U.S. Treasury securities. Companies like Tether (USDT) and Circle (USDC) are leading this growth, with significant expansion in the third quarter of 2024.
Additionally, the industry's growth has been supported by infrastructure improvements and the increasing intersection of blockchain technology and artificial intelligence.
DeFi Continues to Thrive
DeFi remains one of the most active areas of cryptocurrency. Since its emergence in the summer of 2020, decentralized exchanges (DEXs) now account for 10% of spot trading activity, which used to take place only on centralized exchanges.
#DEFİ protocols currently manage over $169 billion in total value locked (TVL). Leading platforms include Lido, Aave, Uniswap, EigenLayer, WBTC, and ether.fi. These decentralized platforms continue to attract users while traditional financial institutions, such as U.S. banks, face ongoing challenges.
Most Active Blockchains
According to a16z, the top blockchains in terms of developer activity and interest include Ethereum (ETH), Solana, and Bitcoin. Ethereum still attracts the most developer activity with 20.8% of builders, while Solana has seen significant growth, increasing from 5.1% in 2023 to 11.2% in 2024.
Coinbase's Base has also experienced a surge in developer activity, rising from 7.8% to 10.7% year-over-year. Bitcoin, which has seen increased interest related to DeFi, has grown its developer engagement from 2.6% to 4.2%.

#cryptoregulation , #CryptoNews🚀🔥 #Cryptocurrencies
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Ripple CEO, Brad Garlinghouse, recently shared his views on elections and voter expectations, emphasizing that voters increasingly care about cryptocurrencies, including Ripple’s native token, XRP.
Voter Interest in Crypto and XRP
In a post on X, Garlinghouse wrote: "Voters care about crypto – they care about XRP – this is not a fringe issue. They want real policy that drives innovation and creates jobs."
His statement was accompanied by a viral video where a voter asked Elon Musk, CEO of SpaceX and Tesla, about the future of XRP in light of the recent SEC crackdown on cryptocurrencies. Musk avoided making any specific mention of XRP, saying he neither supports nor criticizes it, but added: "I believe that cryptocurrencies inherently contribute to individual freedom."
Candidates Ignoring Crypto Risk Losing Support
Garlinghouse also warned that candidates who ignore crypto and blockchain technology risk losing support from an informed and growing voter base.
Cryptocurrency has become a central theme in several election campaigns this season. Both voters and the crypto industry are looking forward to relaxed, crypto-friendly policies from the next administration. As a result, both presidential candidates, Donald Trump and Harris, are doing everything they can to appeal to this particular voter base.
Ripple Plays Both Sides
As crypto companies try to win over the next administration, Ripple is diplomatically playing both sides. On one hand, Ripple co-founder Chris Larsen donated $10 million to Harris’ campaign and affiliated organizations, while CTO David Schwartz recently supported Trump in his legal battle.
Since June, Trump has also received about $7.5 million in cryptocurrency donations, with a significant portion coming from Ripple and other crypto companies.
#CryptoIndustry , #BradGarlinghouse , #Ripple💰 , #donaldtrump , #ElonMusk.

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➤ Bitwise CIO Predicts Crypto Market Rally as Macroeconomic Clarity Emerges.
➤ SEC Crypto Fines hit $4.7B in 2024; Terraform Labs account for $4.4B.
➤ $PROPS to be bridged to BASE blockchain in September.
➤ $GALA Gears Up for Major Marketing Push Ahead of Full Game Release.
➤ $DOGS Token Now Third by Holder Count, Trailing Only $USDT and $ETH.
#CryptoNews #Digitalasset #CryptoIndustry #CryptoInsights

Yao Qian, a key figure in China’s blockchain sector and the former head of the central bank's digital currency research institute, has been expelled from the Chinese Communist Party and stripped of his public office. The charges involve alleged corruption related to cryptocurrencies.
Accusations of Law and Discipline Violations
According to China’s anti-corruption authorities, Yao “severely violated discipline and laws.” They accused him of falsely presenting himself as a financial technology expert and “actively promoting specific technology service providers” for personal gain.
He has also been accused of abusing his regulatory power and engaging in financial transactions involving cryptocurrencies for personal profit. Authorities claim Yao illegally accepted an “extraordinarily large amount” of funds and assets, though the exact amount has not been disclosed.
Next Steps: Criminal Investigation
Yao’s alleged crimes have been referred to the state prosecution for further investigation and potential criminal charges. Authorities are conducting a thorough review of his actions during his tenure in prominent roles within the central bank and regulatory agencies.
Yao Qian’s Career and Activities
Yao Qian began his career as head of the technology regulation division at the China Securities Regulatory Commission. In 2017, he was appointed the inaugural head of the central bank’s digital currency research institute. He transitioned to the national securities regulator in 2018.
Beyond his regulatory roles, Yao was an active advocate for blockchain technologies. In 2022, he published a book covering topics such as DAOs, DeFi, NFTs, and Web 3.0. In the book’s preface, he emphasized the importance of Web 3.0 innovations as a key direction valued by China.
Impact on China’s Crypto Community
This case arises amid China’s ongoing strict oversight of cryptocurrencies and related technologies. The action against Yao highlights that Chinese authorities remain vigilant in scrutinizing the regulatory and technological sectors, particularly in blockchain and digital currency advancements.

#BlockchainNews , #digitalcurrency , #CryptoIndustry , #CryptoNewss ,#China

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The price of #BNB has come under pressure recently, but Binance has achieved another significant regulatory success that could positively impact the price of BNB. This development comes as BNB faces challenges in the market.
Binance's Regulatory Victory in Argentina
Binance, the largest #cryptocurrency exchange in the world, has reached its 20th regulatory milestone by officially registering as a Virtual Asset Service Provider (VASP) in Argentina. This registration allows full access for Argentine users to Binance’s mobile and web applications, significantly strengthening the exchange’s presence in the Latin American market.
This success in Argentina follows similar registration processes in Kazakhstan, India, and Indonesia, highlighting Binance's global growth. Guilherme Nazar, Director for Latin America, emphasized that Argentina is a key market for Binance, and the company intends to continue working closely with authorities to develop the #CryptoIndustry in a sustainable and secure way.
BNB Price Outlook
Binance’s compliance with regulatory authorities worldwide not only enhances its credibility but can also directly impact the demand for BNB. As Binance continues to strengthen its position in various regions, demand for its native #BNBToken may increase, potentially supporting its price growth.
Short-term Volatility and Opportunities
The price of $BNB is currently around $554, marking a 13.2% drop from its recent high of $618. In the event of continued selling, the price could fall by another 4% to reach support at $530. However, this level appears to be a key point for a potential upward reversal. If buyers take advantage of this opportunity, the price of BNB could rebound and rise by 11.8%, pushing it back above $600.

It’s essential to monitor market conditions closely, as a break below this support could signal a further decline to the $471 level.

In a shocking turn of events, Pavel Durov, the 39-year-old founder and CEO of Telegram, was arrested at Le Bourget airport in Paris on Saturday evening. According to French TV station TF1, Durov was accompanied by his bodyguard and a woman when he was taken into custody.
Arrest Warrant and Investigation
Durov had reportedly entered France from Azerbaijan and was on the federal government's wanted list. A French search warrant was issued by the National Office of the Judicial Police (OFMI) based on a preliminary investigation.
Company's Response
Sources close to Durov revealed that Telegram's co-owners have an action plan in place in the event of his arrest. Although details of the plan are unknown, company representatives assured that Telegram can continue to operate and fulfill its tasks for the time being.
Uncertainty and Concerns
Durov's arrest raises concerns about the future of Telegram, a popular messaging app with millions of users worldwide. The company's ability to maintain its services and ensure user data security remains uncertain.
Developing Story
This is a developing story, and further details are expected to emerge in the coming days. Stay tuned for updates on Pavel Durov's arrest and its implications for Telegram.

#TelegramCEO #CryptoIndustry #FinancialCrimePrevention #cryptoregulation

The popular market maker Cumberland Global, a partner of Tether, has become the target of the U.S. securities regulator, potentially bringing the leading stablecoin issuer closer to regulatory scrutiny.
SEC’s Allegations Against Cumberland
On October 10, the U.S. Securities and Exchange Commission (SEC) announced that it had filed a lawsuit against Cumberland DRW LLC in the U.S. District Court for the Northern District of Illinois. The SEC accuses Cumberland of acting as an unregistered crypto asset dealer since March 2018, dealing in over $2 billion worth of assets that were offered and sold as securities.
The SEC alleges that Cumberland earned “millions of dollars in unlawfully obtained profits” through the buying and selling of these unregistered securities, thereby violating federal securities registration provisions.
Cumberland and Its Counterparties
Cumberland reportedly enabled over 1,500 individuals and entities to act as counterparties on their trading platform, Cumberland Marea, since its launch in early 2019. Among these counterparties were prominent participants in the crypto space, including hedge funds specializing in crypto assets.
Cumberland’s Profits
Cumberland has also engaged in proprietary trading on various exchanges, earning over $400 million in revenue and $27 million in profit since 2019. The SEC claims that Cumberland traded tokens such as Polygon, Solana, Cosmos, and Filecoin, which it considers to be unregistered securities.
Cumberland’s Response
Cumberland responded to the allegations, claiming that it had become the latest target of the SEC, which it accuses of stifling innovation and legitimate involvement in digital assets. The company states that it had engaged in five years of discussions with the SEC regarding its transactions, and this was the first time the SEC had identified specific contested trades.
Tether Ties
In 2021, Cumberland was revealed as the largest recipient of USDT (Tether), even surpassing Alameda Research, putting it in a position to confirm or deny Tether’s claims about issuing USDT in exchange for U.S. dollars.
Impact on the Crypto Industry
Cumberland pointed to its previous legal victory against the Commodity Futures Trading Commission (CFTC) and expressed its readiness to defend itself again, highlighting that its compliance framework meets all regulatory requirements.
This incident underscores the growing pressure on the cryptocurrency industry and its regulatory challenges in the U.S., which may have long-term implications for innovation and development in this space.

#Cumberland , #CryptoNews🚀🔥 , #Regulation , #CryptoIndustry , #cryptotradingpro.

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