Who’s up next for the SEC throne

GM. Welcome to the Each day Squeeze juice bar – the place blockchain’s best fruits get spun, shaken, and poured recent into your inbox.

🤔 Rumors are swirling about who’s in line to be the subsequent SEC Chair.

🔥 Cobie burned $17 million price of tokens.

🍊 Information drops: the Ethereum Basis launches Mekong, Detroit residents will have the ability to pay taxes with crypto + extra

🍍 Market taste at this time

The crypto market’s throwing a celebration, and everybody’s invited 🎉 The Concern and Greed Index is in “Greed” at a strong 75. Bitcoin is smashing information like they’re piñatas, leaping to almost $77K yesterday and lounging across the $76K mark ever since.

Over on the Federal Reserve, they did precisely what everybody anticipated: minimize rates of interest by 25 bps. They’re nonetheless attempting to decelerate the unemployment charge, however not so onerous that inflation stops cooling. And apparently, Donald Trump’s grand entrance hasn’t modified their script. In accordance with CME FedWatch, there is a 67.8% probability we’ll see one other 25 bps charge minimize on December 18.

Now, talking of Trump and the Fed, their relationship is about as fuzzy as hugging a cactus. In his final time period, Trump referred to as Fed Chair Jerome Powell – the man he appointed, thoughts you – an “enemy” for not slicing charges. However the factor is – the Fed’s been impartial since 1951, and their job is to make the powerful requires the financial system’s long-term well being, even when it provides politicians a headache. So, when requested whether or not he’d resign if Trump tried to point out him the door, Powell merely mentioned, “No.” Mic drop.

Sliding over to the crypto crystal ball, Raoul Pal, CEO of Actual Imaginative and prescient, is serving some spicy predictions 🌶 He thinks we’re coming into the part the place Ethereum begins to outpace Bitcoin. Why? Rules are more likely to dramatically enhance for crypto, main to 2 huge developments:

As for crypto ETFs – these guys are persevering with their enormous influx streak. Yesterday, BTC ETFs noticed a document $1.37B in inflows, whereas ETH ETFs had $79.7 coming in.

So, maintain that eye on the charts, tiger – these bulls are not going wherever quickly 🐯

💼 SEC #Hiring

We have already talked concerning the US SEC Chair Gary Gensler situash. In case you’re new right here, to begin with, heey 😏; second, you may learn this version to make amends for the tea.

Or if ya lazy, TL;DR: Gensler’s LinkedIn is getting this replace quickly:

‘Trigger Donald Trump needs him out ASAP.

Now, the large Q: who’s subsequent in line to run the SEC? Effectively, just a little birdie (Reuters) dropped some names, and this is the lineup thus far:

So, who’s the one? Effectively, y’all are gonna have to provide it a sec (haha, get it? 🤪 …pls do not go away). The method may drag out a couple of weeks, so it is nonetheless too early to say something.

However from the seems to be of it, the battle in opposition to crypto is coming to an finish. We made it, people.

🎸 Smells like burnt tokens

In case you’ve been in crypto for some time, you already know Cobie. And if you happen to’re new right here, to begin with, heey 😏; second, he is probably the most standard crypto influencers, who’s been within the house since 2012. He additionally seems to be like Kurt Cobain (+rep huge time).

And he is not your common dealer. Cobie launched a celeb token in 2014 (again when memecoins had been barely a factor), he helped develop Lido (the most important DeFi protocol), uncovered insider merchants at Coinbase (which led to an SEC investigation), had a podcast referred to as UpOnly the place he chatted with huge names like Michael Saylor and Vitalik Buterin… so, you already know, he is kinda an enormous deal.

Nonetheless, the notorious FTX collapse in 2022 hit him onerous, so he took a break… however guess what? He hinted that UpOnly would possibly return.

Naturally, a memecoin referred to as UPONLY was launched. Cobie received 60% of the token’s 1B provide despatched to him, however he did not wanna become involved – so he burned all of the tokens, price a cutesy little $17 million. His parting phrases? “See you in hell.”

What a rockstar transfer.

📰 Information drops

🧑‍💻 The Ethereum Basis launched the Mekong testnet so devs can mess around with upcoming upgrades earlier than they hit the mainnet. It is a short-term testnet, filled with all of the EIPs supposed for Ethereum’s Pectra fork.

🤔 Italy’s financial system minister mentioned he is open to rethinking the plan to hike crypto capital good points tax after some occasion members pushed again. The present proposal within the 2025 price range goals to bump the tax charge from 26% to 42%.

🧾 Detroit’s making ready to let residents pay taxes and metropolis charges with crypto via PayPal. This could make Detroit the the largest US metropolis to just accept crypto funds.

🤨 Swiss Nationwide Financial institution’s received its eyebrows raised at crypto. Chairman Martin Schlegel mentioned that regardless of their development, these currencies are nonetheless a distinct segment phenomenon… bro, outline area of interest.

🚀 Coinbase’s wrapped Bitcoin, cbBTC, is now dwell on Solana. It is the primary token Coinbase has issued on this blockchain.

☁️ Sky introduced that its proposal to rebrand again to Maker received the thumbs-down. Solely 18.46% of voters had been in favor of bringing Maker again with a restricted model refresh.

🍌 Juicy memes