Gary Gensler Named as Joe Biden's SEC Chair Pick
The former CFTC chairman has taught courses about blockchain at MIT.
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President-elect Joe Biden named Gary Gensler as his pick for chairman of the U.S. Securities and Exchange Commission (SEC) on Monday.
- Gensler is the former chairman of the Commodity Futures Trading Commission (CFTC) and a Wall Street veteran who has closely studied the cryptocurrency field.
- Gensler has also been a part of Biden's transition team, overseeing financial policy work.
- Former SEC Chairman Jay Clayton left the role on Dec. 23. Elad Roisman was appointed acting SEC chairman by outgoing President Donald Trump for the remainder of his administration.
- Also on Monday, the Biden administration announced Rohit Chopra as the director of the Consumer Financial Protection Bureau. Chopra currently holds the commissioner position at the Federal Trade Commission.
- Chopra has publicly criticized libra, the Facebook-led cryptocurrency project that has since been renamed diem.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
