Pro-XRP "Crypto Dad" Not Interested in Replacing Gensler
Analysis
Price Impact
MedGiancarlo's stance on xrp was favorable, but his non-interest in replacing gensler, who has been hostile to xrp, suggests a neutral impact on xrp.
Trustworthiness
MedGiancarlo's views carry some weight in the crypto community, but his stance on xrp was influenced by ripple's involvement in a report he co-authored.
Price Direction
NeutralIt is unclear whether a new sec leader will be more favorable towards xrp than gensler, making the impact on xrp's price uncertain.
Time Effect
ShortThe news of giancarlo's stance on replacing gensler will likely have a short-term impact on xrp's price.
Original Article:
Article Content:
News Thu, 14/11/2024 - 16:38 Cover image via stock.adobe.com Read U.TODAY on Google News Former CFTC Chair Chris Giancarlo, who is known as "Crypto Dad" because of his friendly stance on digital assets, has confirmed that he is not in the race to replace SEC boss Gary Gensler. In a Thursday social media post, Giancarlo stated that he is not interested in cleaning up Gensler's "mess" again. Gensler previously served as the head of the CFTC from May 2009 to January 2014. Giancarlo, who initially joined the CFTC as a commissioner back in 2014, ended up spearheading the agency from August 2017 to July 2019. HOT Stories XRP Denies Death Cross as Price Suddenly Jumps 8% "Bitcoin Is Going Ballistic", Michael Saylor Says As BTC Holds Above $90,000 BTC Creator Satoshi Nakomoto Now 19th Richest Person in World: Report Elon Musk’s Dogecoin Tweet Drives DOGE Army Nuts With Excitement Giancarlo has also denied DC rumors about potentially getting a crypto role at the US Department of Treasury. Advertisement Related Fri, 10/18/2024 - 05:56 SEC’s Recent Filing Is Good News for XRP Holders Alex Dovbnya During his term, Giancarlo decreed that Bitcoin and Ethereum, the two leading cryptocurrencies, were not securities. In June 2020, Giancarlo stated that the Ripple-affiliated cryptocurrency is not a security. However, some took his comment with a grain of salt due to Ripple's involvement in creating the report he co-authored. The report was published just months before former SEC Chair Jay Clayton ended up taking Ripple to court in December 2020. After taking the reins of the SEC, Gensler ended up adopting a more hostile approach to crypto, taking many crypto companies to court. His agency also decided to appeal the lawsuit in early October. Now that Gensler is expected to depart the agency, the SEC is expected to drop all non-fraud crypto cases. As reported by U.Today , Dan Gallagher, Robinhood's top lawyer, and former SEC Commissioner Paul Atkins are among the leading contenders to replace Gensler. SEC Commissioner Hester Peirce, who is known as "Crypto Mom," is reportedly not interested in the job. #Ripple News #XRP News #Gary Gensler