2 months ago
10x Research said President Joe Biden’s withdrawal from the 2024 presidential race would allow former President Donald Trump to unafraid a “decisive victory” successful the November election.
According to the firm:
“No credible campaigner tin earnestly situation Donald Trump. The November predetermination appears to person been decided without a azygous vote.”
10x believes this displacement holds important implications for some the governmental scenery and the crypto manufacture arsenic a pro-crypto medication is present much apt to instrumentality implicit the White House, perchance starring to important changes successful the Securities and Exchange Commission’s (SEC) leadership.
SEC enactment change
10x caput of probe Markus Thielen said that historically, the modulation betwixt administrations has prompted the resignation of the incumbent SEC chair.
Thielen believes the rhythm could repetition nether a Trump administration, with SEC Chair Gary Gensler apt resigning wrong the archetypal 2 months of 2025 — good earlier his word officially ends connected June 5, 2026.
He pointed to erstwhile transitions that person shown this pattern, including Mary Jo White, Christopher Cox, and Harvey Pitt — each of whom resigned earlier their presumption were up owed to governmental pressure.
Thielen said that a Trump presidency would apt extremity Gensler’s relation arsenic caput of the SEC, fixed the administration’s pro-crypto stance. In February, Trump’s moving mate, J.D. Vance, criticized Gensler arsenic the “worst person” to modulate crypto, citing a backward attack to crypto policy.
Leadership changes astatine the SEC could bring caller perspectives and policies regarding the oversight of cryptocurrencies and blockchain technology. A pro-crypto medication is expected to foster a much favorable regulatory model for integer assets, starring to maturation and innovation wrong the industry.
Bullish catalyst
Thielen highlighted respective bullish catalysts for the crypto marketplace this week, including the imaginable motorboat of spot Ethereum ETFs, arsenic good arsenic “multiple reports and rumors” astir Trump making a astonishment announcement astatine the Bitcoin league successful Nashville connected July 25.
Industry insiders assertion Trump mightiness endorse Bitcoin arsenic a strategical reserve plus astatine the league and code immoderate of the regulatory challenges the manufacture faces.
Thiele believes specified an announcement volition beryllium the catalyst for a “parabolic” emergence successful Bitcoin’s value. He cautioned investors against taking profits oregon shorting BTC earlier Trump’s speech, suggesting that Bitcoin’s erstwhile bull marketplace all-time precocious of $68,300 could beryllium a cardinal level for aboriginal terms action.
Bitcoin was trading astatine astir $68,100 arsenic of property clip — up 1.1% implicit the past hours — and hovering adjacent to its erstwhile all-time highs, based connected CryptoSlate data.
The station Biden’s exit clears way for ‘decisive’ Trump victory, aboriginal Gensler resignation – 10x appeared archetypal connected CryptoSlate.
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