Chris Giancarlo would bet on the SEC dropping the Ripple case following Gensler's departure
Chris Giancarlo, former chairman of the Commodity Futures Trading Commission , predicted that the U.S. Securities and Exchange Commission would drop the case against Ripple during a, the SEC filed its notice of appeal in the case last month. This was followed by Ripple's own cross-appeal. Bitcoin to Hit $1.0 Million After $0.1 Million, Samson Mow Insists
Since Wall Street's next top cop is widely expected to adopt a crypto-friendly stance, it appears to be likely that the SEC is not going to continue its long-lasting legal battle with Ripple. Stuart Alderoty, Ripple's top layer, recently argued that the next head of the SEC should drop all non-fraud cryptocurrency cases on Day 1.
SEC boss Gary Gensler has now confirmed that he will part ways with the agency in January. This injected renewed optimism into the cryptocurrency, which has been at loggerheads with the new SEC boss. According to prediction market Kalshi, former SEC Commissioner Paul Atkins now has a 60% chance of becoming the next head of the SEC. Former Binance US CEO Brian Brooks comes in a distant second place with 20%.
Robinhood CLO Dan Gallagher, the previous favorite to end up at the helm of the SEC, recently said that he was not seeking the job. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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