While Government Stalls, the White House Plots Its Crypto Move? US Crypto News
Welcome to the US Crypto News Morning Briefing—your important rundown of the most essential developments in crypto for the day forward.
Grab a espresso as a result of as the US authorities grinds deeper into shutdown, whispers from the West Wing trace at a strategic crypto transfer that might quietly redraw the traces of energy between the digital asset sector and America’s monetary regulators.
Crypto News of the Day: Shutdown Deepens as White House Edges Toward Surprise Crypto Regulator Pick
The White House is reportedly practically naming Mike Selig, Chief Counsel on the SEC’s Crypto Task Force, as its nominee to guide the CFTC (Commodity Futures Trading Commission). The transfer that might reshape US crypto regulation simply as Washington teeters on the fringe of a record-breaking authorities shutdown.
Two folks conversant in the matter told Crypto In America that Selig stays the prime contender to interchange contentious and former CFTC Chair Brian Quintenz, with formal vetting underway for added commissioner roles.
The administration goals to rebuild the five-member CFTC and unify oversight between the SEC and CFTC amid intensifying requires a cohesive digital asset framework.
“No one is best suited than Mike Selig to harmonize the CFTC and SEC on crypto and past,” said Stu Alderoty, Chief Legal Officer at Ripple.
Indeed, Selig might perceive each side of the regulatory fence and, along with his background spanning each companies, might lastly cut back duplicative oversight.
A former CFTC clerk for Chris Giancarlo and advisor to SEC Chair Paul Atkins, he later served in non-public follow at Perkins Coie and Willkie Farr & Gallagher, advising on blockchain and token regulation.
Therefore, his nomination might go as a crypto-positive sign, bridging the deep coverage rift that has paralyzed the business’s US development.
“Glad to see the (hopefully) newly appointed CFTC is appreciated by those that are working for blockchain interoperability,” one person remarked.
Kalshi Predicts Record-Long US Shutdown
Meanwhile, the potential nomination lands at a tense political second. Kalshi prediction markets now value the shutdown lasting 34.7 days, signaling what might turn into the longest in US historical past.
The prolonged standoff has already halted coverage momentum, delaying progress on key crypto and macro market updates.
Meanwhile, the third week of the shutdown has seen negotiations collapse over navy pay and healthcare subsidies, and crypto markets rebounded modestly after final week’s derivatives-led selloff. Still, the longer Washington stays frozen, the larger the danger of delayed CFTC enforcement steering, ETF opinions, and data releases critical for institutional traders.
Two forces are subsequently at play. On the one hand, Congress is deadlocked on the market construction invoice. On the different hand, Kalshi forecasts the shutdown extending past 35 days.
Against these backdrops, all eyes are on whether or not the administration can push Selig’s nomination by means of a paralyzed authorities, or whether or not crypto’s subsequent regulatory chapter will stay on pause till Washington reopens for enterprise.
Chart of the Day
According to Kalshi prediction markets, there’s a 61% probability the shutdown lasts over 30 days and a 49% probability it can lengthen past 35.
Byte-Sized Alpha
Here’s a abstract of extra US crypto information to comply with in the present day:
- A 35% XRP price rally? One metric says “sure”, one other says “wait”
- Coinbase–Kimchi signal just flashed again — What does it imply for Bitcoin?
- Ethereum price might rise and fall to those ranges earlier than its subsequent rally.
- Grayscale’s transfer might send this altcoin to a new ATH.
- What are crypto whales betting on after Trump’s tariff-induced market crash?
- Bitcoin value nears $115,000 as spot investors defy market fear.
- Four US macro data points to watch this week after the weekend market crash.
- Top three crypto airdrops and rewards to watch in the third week of October.
- Bulls flock to BNB as a Chinese bank mulls $600 million investment in the Binance token.
Crypto Equities Pre-Market Overview
| Company | At the Close of October 10 | Pre-Market Overview |
| Strategy (MSTR) | $304.79 | $308.00 (+1.05%) |
| Coinbase (COIN) | $357.01 | $363.36 (+1.78%) |
| Galaxy Digital Holdings (GLXY) | $39.38 | $40.20 (+2.08%) |
| MARA Holdings (MARA) | $18.64 | $19.19 (+2.98%) |
| Riot Platforms (RIOT) | $21.01 | $21.58 (+2.71%) |
| Core Scientific (CORZ) | $18.52 | $18.97 (+2.43%) |
The publish While Government Stalls, the White House Plots Its Crypto Move? US Crypto News appeared first on BeInCrypto.
