- Crypto advocacy group CIFonX has launched a five-figure digital ad campaign that is set to be displayed across all Washington DC platforms.
- The ad urges lawmakers to vote against SEC Commissioner Caroline Crenshaw, who has been tagged more anti-crypto than Gary Gensler.
- The Senate Banking Committee is set to vote on her renomination on Wednesday, after which she could serve till 2029.
Crypto advocacy group Cedar Innovation Foundation (CIFonX) and several industry leaders are rallying against the renomination of Securities & Exchange Commission (SEC) Commissioner Caroline Crenshaw, who allegedly opposed the approval of the spot Bitcoin ETFs in January.
Crypto community move against Democrat SEC commissioner Caroline Crenshaw
The crypto community has shown disapproval for the renomination of SEC Commissioner Caroline Crenshaw ahead of a senate vote on Wednesday.
The renomination vote is set to take place among the Senate's Banking Committee, after which, if reelected, she will be eligible to serve till 2029.
Crenshaw has served in the agency since her appointment in 2020 and has been in support of strict regulatory measures against the crypto industry. She is noted to have voted against the approval of the spot Bitcoin ETFs in January —one of only two SEC commissioners to do so.
This has drawn criticism from top industry leaders and advocacy groups, who view her stance on cryptocurrencies as overly restrictive and harmful to innovation.
Coinbase CEO Brian Armstrong had previously spoken against her renomination, stating that the crypto community is "watching this vote."
The Blockchain Association stated that they sent letters to the Chairman of the Senate Banking Committee, Sherron Brown, and Senator Tim Scott on the matter, opposing her re-election.
The association noted that Crenshaw has yet to show much interest in evolving her stance with the crypto industry.
Fox Business reporter Eleanor Terret also stated that CIFonX has launched a five-figure digital ad campaign targeted to social media platforms in Washington, DC. The ad labels Crenshaw as "more anti-crypto than Gensler" and urges the Senate to "Vote No" on her re-election.
Additionally, Variant's Chief Legal Officer Jake Chervinsky pointed to Democrat's plans for a rush in the renomination of Crenshaw. He further stated that this action by the Democratic party is a mistake, pointing to the impact of the crypto industry on the presidential election.
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
Sui bulls eyes for a new all-time high of $6.35
Sui price recovers most of its weekly losses and trades around $5.06 at the time of writing on Friday. On-chain metrics hint at a rally ahead as SUI’s long-to-short ratio reaches the highest level in over a month, and open interest is also rising.
Bitcoin Weekly Forecast: Room for a recovery or continuation of the pullback?
Bitcoin’s price slightly recovers and trades around $94,700 on Friday after declining nearly 6% earlier this week. US Bitcoin spot Exchange Traded Funds data shows signs of mild recovery, with a total net inflow of $462.2 million until Thursday.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: All hints for a continuation of the correction
Bitcoin retests its key support level of $92,493; a firm close below it could continue its ongoing correction. Ethereum price closed below its crucial support level of $3,236, suggesting the continuation of the pullback.
XRP funding rates flashes negative, eyes $2.17 following 4% decline
Ripple's XRP declined 4% on Friday following a decline in its funding rates. The remittance-based token could decline to test the $2.17 support level if the crypto market decline extends.
Bitcoin: Room for a recovery or continuation of the pullback?
Bitcoin’s (BTC) price slightly recovers and trades around $94,700 on Friday after declining nearly 6% earlier this week. US Bitcoin spot Exchange Traded Funds (ETF) data shows signs of mild recovery, with a total net inflow of $462.2 million until Thursday. A 10xResearch report released this week projects Bitcoin’s price action for the upcoming major events in January.
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.