Trump to nominate SEC's 'pro-crypto' Michael Selig as CFTC chair: Report

Coinbase and Ripple have emerged as significant contributors to a major construction initiative at the White House, highlighting the growing influence of cryptocurrency companies in political and infrastructural developments. This initiative not only showcases the financial power of these firms but also their commitment to engaging with government projects, which could pave the way for more collaboration between the crypto industry and public sector.

Michael Selig's unexpected rise to become the frontrunner for the chair of the Commodity Futures Trading Commission (CFTC) is a significant development in the ongoing political discourse surrounding cryptocurrency regulation in the U.S. As President Trump prepares to nominate him, this move could shape the future of crypto oversight, potentially influencing how digital currencies are regulated and integrated into the financial system.

Worldcoin, the ambitious project led by Sam Altman, is facing significant regulatory challenges in Thailand after authorities raided an iris-scanning site in Bangkok. This action by the national Securities and Exchange Commission and the Cyber Crime Investigation Bureau raises concerns about the project's compliance and could impact its future operations and the value of its cryptocurrency, WLD. As regulatory scrutiny intensifies, it highlights the ongoing tension between innovative tech projects and government oversight, making it a critical moment for Worldcoin and its stakeholders.

Former President Donald Trump is reportedly set to nominate Michael Selig, known for his pro-crypto stance, as the new chair of the Commodity Futures Trading Commission (CFTC). This nomination comes after a recent setback in the CFTC nomination process when Brian Quintenz withdrew. Selig's appointment could signal a more favorable regulatory environment for cryptocurrencies, which is significant for investors and the crypto market as a whole.

President Donald Trump has chosen Michael Selig, a prominent SEC crypto counsel, to lead the Commodity Futures Trading Commission (CFTC). This appointment is significant as it signals a strong commitment to regulating the cryptocurrency market, which has been a topic of much debate. Selig's expertise in crypto law could help shape policies that foster innovation while ensuring investor protection, making this a pivotal moment for the future of digital assets in the U.S.

In a significant move for the cryptocurrency landscape, Trump has appointed Michael Selig as the chair of the Commodity Futures Trading Commission (CFTC). This decision is noteworthy as Selig, a veteran from the Securities and Exchange Commission (SEC), is expected to bring his extensive experience to the forefront of US crypto regulation and industry coordination. This appointment could lead to more structured oversight in the rapidly evolving crypto market, which is crucial for fostering investor confidence and ensuring market stability.

BNB has seen a significant surge in trading volume, jumping nearly 35% above its seven-day average. This spike comes on the heels of former President Trump's decision to pardon Binance founder CZ, which has sparked renewed interest and optimism in the cryptocurrency market. Analysts believe this price movement indicates a trend of long-term accumulation, suggesting that investors are positioning themselves for future growth. This development is crucial as it highlights the potential for recovery and stability in the crypto space, especially following regulatory challenges.

In today's crypto news, excitement is in the air as former Binance CEO Changpeng Zhao has received a crypto pardon, following a similar decision for Arthur Hayes. This comes at a time when Bitcoin's price has soared past $111,500, raising questions about the implications of Trump's recent actions in the crypto space. This news is significant as it highlights the evolving landscape of cryptocurrency regulations and the potential for further market movements.

Coinbase and Ripple have emerged as significant contributors to a major construction initiative at the White House, highlighting the growing influence of cryptocurrency companies in political and infrastructural developments. This initiative not only showcases the financial power of these firms but also their commitment to engaging with government projects, which could pave the way for more collaboration between the crypto industry and public sector.

The Bank of England is raising concerns about the increasing trend of financiers lending to data centers, fearing it could lead to an AI bubble similar to the dot-com crash of the early 2000s. This matters because such a bubble could have significant repercussions for the economy, reminiscent of past financial crises, highlighting the need for careful regulation and oversight in the rapidly evolving AI sector.

Ethereum is experiencing a significant surge in stablecoin usage, with transfers skyrocketing by 400% in just 30 days, totaling $581 billion. This surge indicates growing confidence in the stablecoin market, which now boasts a cap of over $163 billion. Despite a recent dip in Ethereum's value, many traders see this as a prime buying opportunity, suggesting that the market remains optimistic about Ethereum's future.

Recent estimates reveal that China is still a significant player in the Bitcoin mining sector, contributing about 14% of the global hash-rate as of late 2025. This marks a slight increase from the previous quarter, showcasing China's resilience and influence in the cryptocurrency landscape. With an estimated computing power of 145 EH/s, China's role is crucial as the industry evolves, especially in light of technological advancements like Google's recent breakthroughs in quantum computing that could impact Bitcoin's encryption.

JPMorgan is reportedly gearing up to accept Bitcoin and Ether as collateral for loans, marking a significant shift in the banking sector's approach to cryptocurrencies. This move not only reflects the growing acceptance of digital assets in traditional finance but also opens new avenues for crypto investors seeking liquidity. By embracing these cryptocurrencies, JPMorgan is positioning itself at the forefront of financial innovation, potentially attracting a new client base and enhancing its competitive edge.

Bitcoin's recent volatility is showing signs of cooling down as the market braces for a potential short squeeze rally. Following the significant market crash on October 10, traders are caught in uncertainty, unsure if the next move will signal a recovery or further correction. This situation is crucial as it could determine the future trajectory of Bitcoin and influence broader market trends.