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U.S. President Donald Trump is preparing to nominate Michael Selig as the next chair of the Commodity Futures Trading Commission (CFTC), following the withdrawal of Brian Quintenz’s nomination. Bloomberg first reported the development, citing an unnamed official within the Trump administration. An official announcement has not yet been made. Selig’s Crypto Background and Role at SEC Michael Selig currently serves as chief counsel for the Securities and Exchange Commission’s (SEC) crypto task force and senior adviser to SEC Chair Paul Atkins. He has earned a reputation as a “pro-crypto” regulator, a label welcomed by many in the digital asset community. Selig’s potential appointment is being viewed by industry participants as a sign of continuity in Trump’s growing focus on cryptocurrency regulation. Analysts believe that his experience bridging financial regulation and crypto innovation could help define the next phase of U.S. digital asset policy. Nomination Shift After Quintenz Withdrawal The CFTC nomination process has faced delays since September. Brian Quintenz, Trump’s initial pick, withdrew his name following reported pressure from the Gemini crypto exchange co-founders, Tyler and Cameron Winklevoss. Quintenz later confirmed he would return to the private sector, ending speculation about his role in the administration. Trump has considered transferring greater responsibility for cryptocurrency oversight to the CFTC since early 2024. Under his administration’s “Working Group on Digital Assets,” the CFTC and SEC are expected to share joint responsibility for regulating various types of crypto assets. Policy Framework for Digital Assets The Working Group’s July report recommended assigning oversight of spot crypto markets to the CFTC, recognizing most cryptocurrencies as commodities rather than securities. In contrast, digital assets categorized as securities — such as tokenized bonds or stock-like instruments — will remain under SEC jurisdiction. This split aims to clarify how different types of tokens are regulated and prevent overlapping mandates. Joint SEC–CFTC Cooperation Intensifies In September, the two agencies issued a joint statement pledging to “harmonize” their crypto regulatory frameworks. Legal experts described the move as a major step toward reducing uncertainty and building a more cohesive approach to U.S. crypto oversight. The CFTC also launched a “crypto sprint” in August to fast-track policy actions based on the White House Working Group’s recommendations. These initiatives have fueled speculation that the SEC and CFTC could eventually merge into a single body. However, SEC Chair Paul Atkins dismissed that notion, clarifying that only Congress or the U.S. president has the authority to merge the agencies.
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Bitcoin Reserves on Binance Drop to Lows, Potential $4.8B Short Liquidations at $116K
Binance Bitcoin reserves have dropped to around 613,000 BTC, nearing July 2025 lows as investors withdraw over 613,000 BTC from the exchange. This reduction signals tighter supply and potential price CryptoIntelligence
Top 3 Altcoins to Diversify Your Portfolio: A Smart Move in the Current Market
Amid the ever-changing landscape of digital assets, certain cryptocurrencies present promising opportunities. In a dynamic market, knowing which altcoins are set to rise can be the key to a successful strategy. This article explores highly potential coins that could enhance any portfolio, hinting at substantial growth and making a compelling case for diversification. MNT: The Altcoin Poised for Massive Growth This Bull Run MNT is creating buzz in the crypto world as a promising altcoin. Built to power a decentralized ecosystem, it aims to improve transaction speeds and reduce costs. Many investors are eyeing MNT, seeing echoes of successful past bull runs, and they believe it could shine in the current cycle. With its innovative technology and practical use cases, MNT stands out as an attractive option despite recent market dips. Its potential to revolutionize transactions makes it a compelling choice for those looking beyond Bitcoin. As excitement builds around altcoin season, MNT could be one of the frontrunners leading the charge. TRX: Rising Star in the Next Crypto Bull Run? TRX , the coin of the Tron network, is making waves. Tron aims to decentralize the web and enable fast digital content sharing. Transaction fees are low, and the system supports smart contracts and decentralized apps, making it a strong competitor to Ethereum. Founded by Justin Sun, Tron boasts high-speed transactions and a large global community. With past patterns showing altcoins shine after Bitcoin dips, TRX could be next in line. Its solid technology and active ecosystem make it an attractive option in the current cycle. As enthusiasm and developments grow, TRX might emerge as a key player during the next bull run. ALGO: A Rising Star Amidst the Crypto Market Fluctuations ALGO , the native coin of Algorand, is making waves even with the latest market setbacks. Algorand is designed for speed and efficiency, tackling major blockchain issues like scalability. ALGO offers fast transactions with low fees, making it attractive for both developers and investors. With its focus on a sustainable and decentralized future, Algorand is gaining attention as a reliable platform. As the market shows signs similar to the 2021 patterns, ALGO looks promising in this cycle. Its innovative technology could drive more adoption, positioning it as a potential leader in the next bull run. Keep an eye on ALGO; it might be your ticket to riding the market’s next upward wave. Conclusion MNT, TRX, and ALGO offer potential opportunities for diversifying an investment portfolio. MNT has a strong foundation and potential for growth. TRX provides robust transaction capabilities and a loyal user base. ALGO stands out with its quick processing times and innovative approach. Incorporating these altcoins could lead to more balanced and potentially rewarding investment strategies. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. CryptoIntelligence
