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Consensys pushes back against regulatory ‘gaslighting’ with new sovereignty platform Crypto companies have been “living in fear in a gas-lit world for a long time,” said Ethereum co-founder Joe Lubin. 7527 57 2:31 Consensys pushes back against regulatory ‘gaslighting’ with new sovereignty platform News COINTELEGRAPH IN YOUR SOCIAL FEED Follow our Subscribe on The founder of Ethereum software solutions provider Consensys, Joseph Lubin, announced the launch of a new project called Network State where people can declare their “personal sovereignty.” “We’re on the verge of a paradigm shift that will be heard around the world,” said the Ethereum co-founder in a post on X unveiling the new platform on Nov. 14. Lubin said Consensys is “on a mission to catalyze a Network State within the emerging decentralized Web3 and AI global economy.” He added that for years, the crypto industry has been “living in fear” and unable to engage in activities that “should be natural” for Web3 companies. “We’ve been operating in a climate of regulatory uncertainty, with gaslighting and carpet bombing from the SEC stifling our progress.” Speaking to Cointelegraph at the Ethereum Devcon event in Bangkok, Thailand, Lubin said “We’ve been living in a gas-lit world for a long time, generously gas-lit by the SEC,” before adding: “It’s hard for a technology ecosystem to operate under uncertain, overreaching, regulatory uncertainty at worst, and what appeared to be a strategic and concerted attempt to either kill slow or co-opt the progress of our industry.”

The popular memcoin currency Dogecoin (DOGE) jumped 5%, returning to multi-year highs reached earlier this month, after new speculation regarding the long-awaited social payment service X, owned by ELON Musk. Apparently, the reason for this step was the publication by Musk of a screenshot of JOE Rogan's podcaster profile in X. There was a dollar ICON in the post, which is different from the tip icon in the app, as ONE user noticed in the X post, suggesting that it might be designed to send money as part of X Payments. Musk replied to the post with "the truth." The Dogecoin price has a history of moving news related to payments — however fantastic they may be — at any company owned by ELON Musk, including X, formerly known as Twitter. Musk has long hatched plans to turn the social networking site into an "app for everything" covering payments between users. X Payments LLC has received money transfer licenses in most U.S. states, with the exception of New York. Some Crypto speculate that the service, when launched, may include transactions with some digital assets such as DOGE, given Musk's long-standing attachment to this token. Musk's electric car company Tesla already accepts DOGE payments for some purchases of goods in its online store. DOGE has increased by 5.4% in the last 24 hours, surpassing the fixed prices of Bitcoin (BTC). The token has grown by 190% over the past month and is trading at its highest level since May 2021. $DOGE

Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC) and a known critic of the cryptocurrency industry, announced his resignation effective January 20, 2025, coinciding with President-elect Donald Trump’s inauguration. Gensler will not only step down as chairman but will also leave the commission entirely, opting not to serve as a commissioner until his term officially ends in 2026. This decision indicates he will not stay to defend his policies against the incoming administration’s changes. Gensler’s Legacy at the SEC Gensler, who assumed office in April 2021, was instrumental in several enforcement actions and regulatory moves that shaped the crypto industry. While initially expected to adopt a more lenient approach toward digital assets, he expanded enforcement measures. Under his leadership, the SEC sued major crypto exchanges, including Binance, Coinbase, Kraken, and Shapeshift, accusing them of operating as unregistered securities brokers. Notable achievements of his tenure include the approval of the first spot Bitcoin and Ether exchange-traded products, a significant milestone after years of regulatory pushback. This approval followed a court ruling against the SEC and required bipartisan support from the commission’s five members. Comments on Resignation In a statement, Gensler called the SEC a “remarkable agency” and praised its mission-driven staff, emphasizing their dedication to protecting investors and ensuring efficient market operations. He expressed gratitude to President Joe Biden and his colleagues at the SEC, reflecting on the accomplishments during his term. Gensler also highlighted the increased focus on cryptocurrency-related issues during his tenure, noting that crypto accounted for 18% of tips and complaints received by the SEC in the last fiscal year, even though the industry represents less than 1% of U.S. capital markets. Impact of Gensler’s Departure Trump has yet to name a successor, but potential candidates include former SEC attorney Teresa Goody Guillén and Brian Brooks, the former Acting Comptroller of the Currency and CEO of Binance.US. The commission will temporarily consist of two Democrats and two Republicans, delaying major policy decisions until a Republican majority is confirmed by the Senate. Gensler’s resignation comes as the SEC faces ongoing scrutiny. Just hours before the announcement, a federal judge ruled against the SEC’s expanded definition of “dealers” in a lawsuit brought by crypto lobbyists. In the interim, any significant regulatory shifts will likely remain on hold until the new chair is appointed and approved. This revision removes redundancies and organizes the information for better readability. Let me know if you need further refinements or additional details. $BTC from cryptosmith2 ✍️

Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC) and a known critic of the cryptocurrency industry, announced his resignation effective January 20, 2025, coinciding with President-elect Donald Trump’s inauguration. Gensler will not only step down as chairman but will also leave the commission entirely, opting not to serve as a commissioner until his term officially ends in 2026. This decision indicates he will not stay to defend his policies against the incoming administration’s changes. Gensler’s Legacy at the SEC Gensler, who assumed office in April 2021, was instrumental in several enforcement actions and regulatory moves that shaped the crypto industry. While initially expected to adopt a more lenient approach toward digital assets, he expanded enforcement measures. Under his leadership, the SEC sued major crypto exchanges, including Binance, Coinbase, Kraken, and Shapeshift, accusing them of operating as unregistered securities brokers. Notable achievements of his tenure include the approval of the first spot Bitcoin and Ether exchange-traded products, a significant milestone after years of regulatory pushback. This approval followed a court ruling against the SEC and required bipartisan support from the commission’s five members. Comments on Resignation In a statement, Gensler called the SEC a “remarkable agency” and praised its mission-driven staff, emphasizing their dedication to protecting investors and ensuring efficient market operations. He expressed gratitude to President Joe Biden and his colleagues at the SEC, reflecting on the accomplishments during his term. Gensler also highlighted the increased focus on cryptocurrency-related issues during his tenure, noting that crypto accounted for 18% of tips and complaints received by the SEC in the last fiscal year, even though the industry represents less than 1% of U.S. capital markets. Impact of Gensler’s Departure Trump has yet to name a successor, but potential candidates include former SEC attorney Teresa Goody Guillén and Brian Brooks, the former Acting Comptroller of the Currency and CEO of Binance.US. The commission will temporarily consist of two Democrats and two Republicans, delaying major policy decisions until a Republican majority is confirmed by the Senate. Gensler’s resignation comes as the SEC faces ongoing scrutiny. Just hours before the announcement, a federal judge ruled against the SEC’s expanded definition of “dealers” in a lawsuit brought by crypto lobbyists. In the interim, any significant regulatory shifts will likely remain on hold until the new chair is appointed and approved. This revision removes redundancies and organizes the information for better readability. Let me know if you need further refinements or additional details. This new can send bitcoin above 100k mark

Within the meme coin space, politifi tokens are clinging to survival. Bitcoin.com News first reported on the decline the day after the election, and while a few have shown slight rebounds, many are now considered relics. Take kamala horris (KAMA), for instance, a token named after Vice President Kamala Harris. It has plummeted 98.8% from its all-time high of $0.039 and now trades at just $0.0004486. Similarly, jeo boden (BODEN), inspired by President Joe Biden, has dropped 99.5% from its peak of $1.04 reached seven months ago, now sitting at $0.004822 per token. Even Trump-themed coins have not fared well despite his 2024 election win. For instance, maga (TRUMP) is currently priced at $1.50 after a 4.2% dip today. On June 1, 2024, just six months ago, TRUMP was trading at an all-time high of $17.51—a staggering 91.4% higher. Most other Trump-inspired tokens have followed a similar downward trajectory, losing significant value since their June 2024 highs. Back then, the politifi sector was valued at nearly $2 billion, with a total of $1.996 billion. Today, its worth has shrunk by 75.21%, standing at $495.31 million. Moreover, the politifi market now represents a mere 0.4026% of the meme coin economy’s $123.10 billion valuation, compared to the 3.222% share it held in June when the total market was $61.92 billion. The dramatic fall of politifi tokens underscores the sector’s tenuous appeal, yet Trump-related coins highlight a unique exception. The connection to his presidential win appears to offer a semblance of buoyancy, hinting at the enduring influence of political victories and mishaps. These coins, while diminished, remain a barometer of how politics and crypto can intersect in the meme economy.