Donald Trump has promised to fire SEC Chair Gary Gensler, whose work at the agency was defined by his animosity toward crypto.
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Community risk assessors warned against the perceived centralization effort days before the proposal’s passage.
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It’s unclear at this time whether illicit activity has taken place, but a series of red flags has brought the token under scrutiny.
Questions abound concerning the Bitfinex and Silk Road funds if Trump is re-elected.
Bitcoin remains on target to reach $70,000, and if that happens, XRP, KAS, STX and JASMY could find buyers.
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A Bitcoin analyst predicts the cryptocurrency’s price could soar above $800,000 following Trump’s promise to integrate it into the US’s strategic reserves.
The authorities continue to urge the public to remain cautious and verify the legitimacy of financial transactions to avoid falling victim to such elaborate scams.