- After Trump’s win, Coinbase’s Paul Grewal calls SEC to stop suing crypto and initiate rulemaking.
- Trump’s promise to fire SEC Chair Gary Gensler could pave the way for more crypto-friendly leadership.
- Coinbase takes heat over rumored token listing fees up to $300 million.
Paul Grewal, Coinbase's Chief Legal Officer, has asked the US Securities & Exchange Commission (SEC) to reconsider how it regulates cryptocurrencies now that Donald Trump has been elected to a second term as president.
Grewal seemed hopeful that the SEC might change its regulatory model so that it focuses on open conversation and innovation instead of focusing on lawsuits. This view fits with the growing anger among crypto supporters over the SEC's current enforcement actions.
Trump plans to fire SEC Chair Gary Gensler. A change in leadership at the SEC could have big effects on how cryptocurrencies are regulated in the US in the future.
Justin Sun and Andre Cronje allege ‘exorbitant’ token listing fees
Since Trump claimed to get rid of SEC Chair Gary Gensler, there has been a lot of speculation regarding possible replacements. Candidates who are likely to be more crypto-friendly received a lot of attention.
One of the major names is SEC Commissioner Hester Peirce, who is known for being in favor of cryptocurrencies. People in the community have called Peirce "Crypto Mom" because of her contribution as an advocate in the field. As a result of claims that its marketing fees for tokens are too high, the SEC is calling for more openness on Coinbase.
Justin Sun, the founder of Tron, said in a X post on November 4 that Coinbase wanted an unbelievable $300 million to list the Tron token on its website.
Like Sun, Andre Cronje, the founder of Fantom Network, said in a post on November 3 that Coinbase told him that listing fees for Fantom would be between $30 million and $300 million, but Binance didn't charge anything.
Brian Armstrong, CEO and co-founder of Coinbase, said in a post on X on November 2 that "listing assets on Coinbase is free." These claims contradict what Armstrong said.
Asset listings on Coinbase are free - drop us a note through our Asset Hub and we'll see if we can helphttps://t.co/Weoa8MhLeq
— Brian Armstrong (@brian_armstrong) November 2, 2024
And yes, DEXes are also a great option (which we support in our products). https://t.co/cjp0Avu4uC
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP hints for a pullback ahead
Bitcoin price action shows a bearish momentum on the RSI indicator, suggesting a decline ahead. Ethereum price faces resistance around the $4,000 level, indicating a pullback ahead.
Ripple week in review: Can XRP resume rally to hit a new all-time high?
Ripple's XRP is up 7% on Friday as whales are holding onto their tokens despite high profit-taking among retail traders. This attitude from whales could push XRP to a new all-time high at $3.57.
SushiSwap DAO proposes strategy to improve liquidity through treasury diversification
The Sushi decentralized autonomous organization (DAO) issued a proposal on Friday that offers a shift from the protocol's initial treasury holding in SUSHI to accommodate other assets.
Ethereum Price Forecast: ETH nears its all-time high, sees record ETF inflows and high preference than Bitcoin
Ethereum has become more attractive to investors than Bitcoin since the US elections, noted Bybit. Ethereum ETFs posted their highest single-day net inflows after raking in $428.5 million. Ethereum could soon reach a new all-time high if it surpasses the yearly high resistance of $4,093.
Bitcoin: Long-awaited $100K milestone meets profit taking
Bitcoin ends the working week hovering around $98,000 after a very volatile Thursday when it surpassed the $100K milestone and underwent a sharp correction. Strong institutional demand, whale accumulation, and the choice of a pro-crypto figure to lead the US SEC fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.