The Daily: Gary Gensler's potential farewell, bitcoin ETFs' half-trillion-dollar milestone and more

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7 hours ago

Happy Thursday! In today's newsletter, Gary Gensler's time leading the SEC nears a possible end, Republicans keep control of the U.S. House, spot bitcoin ETFs reach a half-a-trillion dollar milestone and more.

Meanwhile, the FBI seizes Polymarket CEO Shayne Coplan's phone and electronics.

Plus, find out how Elon Musk, Vivek Ramaswamy and Dogecoin co-creator Billy Markus reacted to Trump's "DOGE" announcement.

Let's get started.

In prepared remarks on Thursday at the Practicing Law Institute's 56th Annual Institute on Securities Regulation, U.S. Securities and Exchange Commission Chair Gary Gensler reflected on his time leading the agency's team.

Republicans retained control of the U.S. House on Wednesday, having secured a majority of 218 members, paving the way for crypto-friendly lawmakers to lead the Financial Services Committee and efforts for digital asset-related bills.

U.S. spot bitcoin ETFs have surpassed $500 billion in cumulative trading volume — less than a year after their January debut.

Fintech firm DeFi Technologies is launching CoreFi Strategy, aiming to offer investors "higher beta bitcoin exposure" through Core, which is positioned as a "bitcoin-staking" blockchain despite Bitcoin not having a native staking model.

Coinbase has surged back into the U.S. Apple App Store's top 10 free category, reaching the number one position in finance amid the recent Donald Trump-fueled crypto rally.

Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2024 The Block. All Rights Reserved. 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.

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