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President-elect Donald Trump announced through his X account on the 11th that he would appoint key executive branch positions without a Senate vote, citing a constitutional provision that allows the president to fill Senate vacancies during a Senate recess. According to the U.S. Constitution, the president has the authority to appoint personnel to fill Senate vacancies during a Senate recess. The cryptocurrency community has interpreted Trump's citation of this constitutional provision as an indication that he will replace Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), without a Senate vote. The appointment of the SEC chairman requires a Senate vote.
2. Canary Capital files for Hedera physical ETF
Canary Capital filed an S-1 registration statement with the SEC on the 12th to launch a physical Hedera (HBAR) exchange-traded fund (ETF), following its filing for a Solana physical ETF. The Hedera physical ETF filing by Canary Capital includes provisions to store a portion of the Hedera underlying the ETF in geographically independent locations and monitor the Hedera 24/7. Canary Capital previously filed for physical ETFs for Ripple (XRP), Litecoin (LTC), and Solana (SOL).
3. Bloomberg: "Billionaire fund manager and 'Bitcoin believer' Scott Basden likely to be Trump administration's next Treasury Secretary"
Billionaire fund manager and 'Bitcoin believer' Scott Basden is reportedly emerging as the likely candidate for Treasury Secretary in Donald Trump's second term. Bloomberg reported on the 12th that Scott Basden, who closely collaborated with the Trump campaign on fundraising and economic policy during the presidential election, is the frontrunner to become the new Treasury Secretary in the Trump administration. Basden has repeatedly voiced his support for Bitcoin in media interviews, and particularly praised the idea of the U.S. government accumulating Bitcoin as a reserve asset, which was mentioned by the President-elect in a July interview with Fox Business.
4. Cardano founder "will cooperate with Ripple"
Cardano founder Charles Hoskinson announced plans to cooperate with Ripple. He tweeted on the 12th that he "spoke with Brad Garlinghouse, CEO of Ripple," and that he "looks forward to a cooperative future with him."
5. Arthur Hayes: "Trump administration's state capitalism will trigger a Bitcoin boom"
BitMEX CEO Arthur Hayes predicted a Bitcoin price surge due to the Trump administration's adoption of state capitalism. In a blog post on the 12th, Hayes said the Trump administration will choose China's state-led capitalist economic model, which will further highlight Bitcoin as a superior 'hedge asset', leading the Bitcoin price to reach $1 million.
Reporter Kwon Seung-won ksw@blockstreet.co.kr
