The Securities and Exchange Commission of the United States has changed its stance on crypto, with several commission employees leaving their jobs. In a most recent development, it has been noted that the regulatory commission is offering monetary incentives to the existing employees for resigning or retirement.
Especially after Donald Trump’s historic victory, the United States’ financial agencies saw a change in the commission’s leadership, which is expected to open a new path for the digital assets market.
SEC to be renamed as the pro-crypto agency?
Finance sector experts argue that the shift in the intake of the SEC over digital assets has constantly changed under the Trump administration. Yet, the market expects a good set of rules in the coming years.
Most recently, it has been announced that the White House of the U.S will be organizing the first crypto summit this coming Friday. During the summit, the president of the nation is expected to give a speech concerning crypto, especially Bitcoin.
In its recently published report, Bloomberg said that the U.S SEC is reportedly giving an amount of $50,000 to the existing commission employees to either resign or retire.
The information on monetary incentives for resignation and retirement was sent through an email by Ken Johnson, Chief Operating Officer. Following Trump’s joining, the enforcement agencies and other governmental organizations have fired hundreds of employees, now employing the close ties of the currently serving president.
Also, the SEC has been working on adequately forming and deploying the dedicated crypto force to streamline the nation’s digital asset industry.
Over the past few days, the crypto market has been struggling below expectations, and when writing, the cap was $2.7 trillion with a decline of 8.61%, and the volume was $186.91 billion with a loss of 4.78%.
Why is the crypto market down today?
Experts argue that the ongoing decline in the market is likely fueled by the bearish sentiment in the traditional finance market of the United States. S & P 500 has also been troubling, erasing millions from the market in several sessions.
Yet another reason behind the severe loss is the confirmation of the Trump administration’s imposing fresh tariffs on Canada and Mexico on March 05, 2025. Bitcoin is once again below the $90k mark and was at $83,420, with a decline of 10%.
In the past 24 hours, the losers list has been ruled by Virtual Protocol, Berachain, Lido, Ethena, Cardano, and Lido, among a few others. The fear and greed index was at 24, with a growing fear in the market sentiments.
However, the gainers are PI coin, Tether Gold, and PAX Gold, and the weekly gainers are PI, Cardano, Dogecoin, Bitcoin Cash, and XRP.
