{"id":602540,"date":"2024-11-22T11:45:30","date_gmt":"2024-11-22T11:45:30","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=602540"},"modified":"2024-11-22T11:45:30","modified_gmt":"2024-11-22T11:45:30","slug":"xrp-soars-bitcoin-nears-100k-after-hitting-new-ath-as-gary-gensler-confirms-sec-exit","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/xrp-soars-bitcoin-nears-100k-after-hitting-new-ath-as-gary-gensler-confirms-sec-exit","title":{"rendered":"XRP Soars, Bitcoin Nears $100K After Hitting New ATH As Gary Gensler Confirms SEC Exit"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Ripple&rsquo;s XRP token surged and crypto market leader Bitcoin (BTC) is edging closer to the psychological $100K mark after US Securities and Exchange Commission (SEC) Chair Gary Gensler announced he will step down next month.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remittance token XRP soared more than 24% in the past 24 hours to trade at $1.38 as of 3:30 a.m. EST. Bitcoin climbed more than 1% to $98,772 after earlier hitting a new all-time high (ATH).<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/financefeeds.com\/wp-content\/uploads\/2021\/12\/Brad-Garlinghouse.jpeg\" alt=\"Ripple CEO Garlinghouse Ousted From Citigroup Over Crypto Ties - FinanceFeeds\"><\/p>\n<h2><span style=\"font-weight: 400;\">Ripple CEO &ldquo;Thankful&rdquo; That Gary Gensler Is Stepping Down<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This came after Gensler shared his resignation announcement in a Nov. 21 thread on X. The SEC executive disclosed that he will step down as the regulator&rsquo;s chair on Jan. 20, 2025, after Donald Trump is inaugurated as president.&nbsp;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">On January 20, 2025 I will be stepping down as <a href=\"https:\/\/twitter.com\/SECGov?ref_src=twsrc%5Etfw\">@SECGov<\/a> Chair.<\/p>\n<p>A thread &#129525;&#11015;&#65039;<\/p>\n<p>&mdash; Gary Gensler (@GaryGensler) <a href=\"https:\/\/twitter.com\/GaryGensler\/status\/1859658192298574096?ref_src=twsrc%5Etfw\">November 21, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">&ldquo;It has been an honor of a lifetime to serve w\/ them on behalf of everyday Americans &amp; ensure that our capital mkts remain the best in the world,&rdquo; he said.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ripple CEO Brad Garlinghouse <\/span><a href=\"https:\/\/x.com\/bgarlinghouse\/status\/1859659691883983275\"><span style=\"font-weight: 400;\">retweeted<\/span><\/a><span style=\"font-weight: 400;\"> Gensler&rsquo;s resignation thread on X, adding that he is &ldquo;thankful&rdquo; for Gensler&rsquo;s resignation this Thanksgiving. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This follows a multi-year-long lawsuit between Ripple Labs and the SEC over XRP&rsquo;s security status.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Bitcoin Nears $100K As Gensler Resignation Boosts Crypto Euphoria<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">With Gensler leaving the <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/federal-judge-rejects-bid-by-kraken-to-appeal-decision-in-sec-case\"><span style=\"font-weight: 400;\">SEC<\/span><\/a><span style=\"font-weight: 400;\"> and pro-crypto President-elect <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/donald-trump-mulls-first-ever-crypto-white-house-role-report\"><span style=\"font-weight: 400;\">Donald Trump<\/span><\/a><span style=\"font-weight: 400;\"> entering the White House next year, crypto prices have started to rally due to investor euphoria.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Market leader <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> set a new all-time high of $99,467.89 earlier today. With the new peak, BTC is less than $1K from achieving the major $100K milestone.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Institutional investors are also rushing to buy Bitcoin, with <\/span><a href=\"https:\/\/farside.co.uk\/btc\/\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> from Farside Investors showing that US spot Bitcoin ETFs (exchange-traded funds) recorded over $1 billion in inflows yesterday. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">BlackRock&rsquo;s IBIT maintained its dominance after over $608 million entered the fund. Fidelity&rsquo;s FBTC took second place with its $301 million inflows on the day.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to BTC and XRP pumping, the cat-themed segment of the market was among the best performing with a more than 8% pump.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mog Coin (MOG) led gains by the biggest cat-themed tokens by market capitalization, but it was a new meme coin by the name of CatSlap (SLAP) that stole the spotlight. <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/visit\/catslap\" rel=\"nofollow\">CatSlap Token<\/a><\/span><span style=\"font-weight: 400;\"> went viral on social media and has soared 1,756% in the last 24 hours.&nbsp;&nbsp;<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/sui-network-suffers-outage-with-no-new-blocks-produced-for-over-2-hours\"><span style=\"font-weight: 400;\">Sui Network Suffers Outage With No New Blocks Produced For Over 2 Hours<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/kid-executes-30k-rug-pull-with-gen-z-quant-token-he-created-during-live-stream\"><span style=\"font-weight: 400;\">Kid Executes $30K Rug Pull With Gen Z Quant Token He Created During Live Stream<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/pepe-price-prediction-pepe-soars-12-as-pepe-unchained-fomo-intensifies-amid-binance-listing-speculation\"><span style=\"font-weight: 400;\">PEPE Soars 12% As Pepe Unchained FOMO Intensifies Amid Binance Speculation<\/span><\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                   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