Mark Uyeda Named Acting SEC Chair as Bitcoin Hits Record High
Mark Uyeda, known for his crypto-friendly stance, has been named acting chairman of the Securities and Exchange Commission (SEC). Meanwhile, the bitcoin price soared to a record high of over 109,000 US dollars, only to drop slightly following Donald Trump's inauguration.
Trump, who has not yet issued any executive orders related to bitcoin or cryptocurrencies, did not mention them in his inauguration speeches. Despite this, World Liberty Financial (WLFI) bought 47 million US dollars worth of wrapped Bitcoin (wBTC) to celebrate his inauguration.
Elon Musk sparked speculation when he hinted that Ross Ulbricht, the founder of Silk Road, might still be freed by Trump. Ulbricht, currently serving a disproportionate sentence according to libertarians, has not been pardoned by Trump. Neither has Trump issued a law preventing the sale of confiscated bitcoin.
Caroline Pham, an advocate for regulatory clarity in cryptocurrencies, has been appointed acting chair of the Commodity Futures Trading Commission (CFTC). The probability of Trump establishing a bitcoin reserve in his first 100 days is currently 29 percent.
With Mark Uyeda's appointment, the crypto community awaits potential regulatory changes. Meanwhile, the bitcoin price remains volatile, and the fate of Ross Ulbricht continues to be a topic of debate among libertarians.
