47 days ago
The U.S. Securities and Exchange Commission (SEC) has appointed Jorge Tenreiro as its new chief litigation counsel, a move that comes just weeks before President-elect Donald Trump takes office. Tenreiro, formerly the acting chief of the SEC’s crypto and cyber unit, will now oversee enforcement lawsuits and investigations nationwide. His new position marks an important shift in the agency’s leadership at a critical time for the crypto industry. New SEC Leadership for the Crypto Unit This transition follows the departure of former SEC litigation chief Olivia Choe, who left the agency in July for a private sector role at Milbank LLP. Tenreiro’s tenure in the SEC’s crypto assets unit has been marked by high-profile cases, including lawsuits against major players like Kraken, Coinbase, Tron, and Ripple Labs. His team also led enforcement actions against FTX and Terraform Labs, with the latter resulting in a record $4.47 billion settlement earlier this year. Simultaneously, the SEC’s crypto and cyber unit has undergone its own leadership changes. Mark Sylvester and Laura D’Allaird have been named co-chiefs of the unit, succeeding Tenreiro in overseeing its crypto-related enforcement actions. Both have extensive experience within the SEC, with D’Allaird previously serving as counsel to outgoing Commissioner Jaime Lizárraga and Sylvester as the assistant director of the crypto unit. These appointments reflect a continued focus on cryptocurrency regulation, even as the incoming administration signals a potential easing of regulatory scrutiny. President-elect Trump’s pro-crypto stance and plans to reform the SEC’s approach could reshape the agency’s enforcement priorities. However, Tenreiro’s leadership suggests the agency may continue its aggressive stance on crypto-related violations until any policy changes are formally enacted. Controversy and Criticism Follow Tenreiro The recent leadership change has not been without controversy. Crypto lawyer John Deaton recently criticized him, calling him one of the least desirable lawyers for the crypto industry to hire if he ever leaves the SEC. The criticism highlights tensions between the agency and the crypto community, which has often accused the SEC of overreach and inconsistent regulation. As the Trump administration prepares to take office, the SEC’s reshuffled leadership faces a critical moment in shaping the future of cryptocurrency regulation. Whether Tenreiro’s tenure as chief litigation counsel marks continuity or change remains to be seen, but his history suggests a firm commitment to robust enforcement. The post SEC Reshuffles Leadership as Jorge Tenreiro Steps into Top Litigation Role appeared first on TheCoinrise.com .
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Ethereum (ETH) Sets the Stage for a Major Price Rally: Key Insights to Watch
Ether (ETH), the second largest cryptocurrency by market capitalization ranking, recently soared from around $3,000 earlier this month to $3,500 for the first time this year before it lost some of its momentum. In a recently published crypto derivatives report, Bybit and research firm Block Scholes highlighted several factors, including macroeconomic developments and trading signals from the spot and futures market metrics, that could give ETH the much-needed push to reclaim higher price levels. What Could Drive ETH’s Surge? Perpetual swap funding rates have fluctuated in alignment with spot prices while maintaining a positive record for most of this month, especially for ETH. Bybit’s report explained that this translates to a “strong demand for long positions in the contract despite the downturn, or at least a lack of interest in short positions, due to liquidations or other factors.” Additionally, the crypto options market reflects a mix of short-term caution and long-term optimism. Due to uncertainty, traders are hedging against potential short-term price drops. However, they remain optimistic about the market’s long-term prospects, as the bullish skew in longer-dated options contracts shows. Moreover, the recent Consumer Price Index (CPI) data triggered a change in market structure as BTC, ETH, and many altcoins headed north. The bullish volatility smile indicates increased speculation and betting on potential price uptrends. Meanwhile, news about the incoming inauguration of the pro-crypto President-elect, Donald Trump, has recently boosted the market’s uptrend. Agreeably, the crypto community eagerly expects a new America with less strict crypto trading and investment laws. Thus, investors have switched attention to digital assets, mostly ETH and BTC, as they have struggled to gain regulatory clarity involving these assets over the past few years and survived different wavering market conditions. More Altcoins to Record Uptrends Like ETH, a few altcoins have also recently displayed bullish momentum. These include SOL, XRP, LTC, and others. Due to XRP’s 40% surge over the past week to reach $3.40, a few bullish and optimistic traders predict it may soar to $100 soon. Meanwhile, SOL became the biggest beneficiary of the TRUMP-induced price rally and shot up to a new all-time high of its own of almost $300 at press time. The post Ethereum (ETH) Sets the Stage for a Major Price Rally: Key Insights to Watch appeared first on CryptoPotato . The Coin Rise
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