Michael Novogratz: Bitcoin is expected to experience a pullback, as there is currently a significant amount of leverage in the cryptocurrency market

Gary Gensler is . And no one in crypto is going to miss the SEC chair. Under his tenure, the lead U.S. securities regulator led a wide-ranging campaign against digital assets companies that was both damaging and frequently unfair. Meanwhile, Gensler offered no clarity to crypto companies wanting to do business the right way. At times, it seemed that Gary, along with his ally, Senator Elizabeth Warren, simply wanted to let crypto die on the vine — such was their obvious distaste for the industry and its arguments.

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Odaily Planet Daily News: According to Reuters, Trump's "Crypto Advisory Committee" is expected to establish a promised Bitcoin reserve. Two sources said that this encryption committee may be under the White House National Economic Council (responsible for coordinating and implementing the President's economic policies) or an independent White House agency. According to them and other industry insiders, the committee is expected to provide recommendations on digital asset policies, work with Congress to advance cryptocurrency legislation, establish the Bitcoin reserve promised by Trump, and coordinate among various agencies including the U.S. Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Treasury Department. A source also stated that the committee may include law enforcement representatives and former policy makers.

The price of Ouyi OKX SOL/USDT has reached a historic high, now reported at 259.9 US dollars, up 11.34% in 24 hours, with a turnover of 368 million US dollars. After reaching a new high in price, there is a high probability of a price correction. (AICoin Research Institute)

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.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.