The crypto market is reaching new highs once more, the market crash of February all but forgotten. The space held a total market cap of $1.7 billion on Thursday, primarily thanks to the extremely bullish news of Gary Gensler being voted<\/a> in favor of giving him the position of the Securities and Exchange Commission (SEC)\u2019s Chairman by the US Senate Banking Committee.<\/p>\n
The official announcement stipulates that the vote itself was 14-10 in favor of\u00a0 Gensler. It was back in January of this year when Joe Biden, the President of the US, officially nominated\u00a0 Gary Gensler to become the new leader of the SEC. The crypto market<\/a> took this news with joy, as the entire space shot up by 3% just with that announcement alone. IT should be noted that Gensler was the former Chief of the Commodity Futures Trading Commission, or CFTC.<\/p>\n
\nSEC Chair nominee, Gary Gensler: <\/p>\n
"#Bitcoin<\/a> and other cryptocurrencies have brought new thinking to payments and financial inclusion, but they've also raised new issues of investor protection… If confirmed at the SEC, I will work to promote innovation" pic.twitter.com\/AlAsUPJONY<\/a><\/p>\n
— Bloqport (@Bloqport) March 2, 2021<\/a><\/p><\/blockquote>\n