The price of major crypto stocks has surged in the last 24 hours following reports that the U.S. Securities and Exchange Commission (SEC), under the leadership of Paul Atkins, may prioritize traditional cases and shift away from targeting cryptocurrency firms. This move has led to significant gains for key companies in the crypto space, including MicroStrategy ($MSTR), Coinbase ($COIN), and Mara Holdings Inc ($MARA).
SEC’s Shift in Focus: Recent statements from the SEC indicate that the commission plans to focus on cases involving individual fraud, particularly targeting elderly citizens, rather than pursuing further actions against cryptocurrency firms. This development is linked to a broader shift in the SEC’s strategy under its new leadership, with more traditional enforcement priorities emerging.
The SEC has made a series of key decisions regarding cryptocurrency policy this year, including withholding judgments on major cases such as the ongoing XRP vs. SEC lawsuit. Industry insiders are speculating that the agency’s delay in concluding this case may be a sign of a more lenient approach toward the crypto industry.
Crypto Stocks React to SEC’s Position: In response to the SEC’s new stance, the prices of top crypto-related stocks have soared. MicroStrategy, a company heavily invested in Bitcoin, saw a 9.54% price increase, with its stock climbing from $316 to $333 within hours. The company’s ongoing strategy of accumulating Bitcoin, now holding 500,000 BTC, has kept it in the spotlight.
Mara Holdings Inc experienced even more dramatic growth, jumping 17.56% in a matter of hours. Starting the day at $12.84, the stock price reached $14.56, and the company is now on track to exceed a $5 billion market cap.
Coinbase also saw a significant rally, with its stock price rising by 6.41%, reaching a daily range of $194.42 to $202.25, and potentially heading toward $210.
Market Reactions and Speculation: This surge in crypto stock prices has prompted discussions among marketers, with some suggesting the possibility of a bull run. However, others caution that this rapid price movement could signal the formation of a financial bubble in the long term.
Leadership Changes at the SEC: Paul Atkins, a second-time elect and a pro-crypto appointee of former President Donald Trump, is set to officially take the helm of the SEC. The announcement is expected to be made on Capitol Hill on Thursday, March 27, 2025. Under Atkins’ leadership, there are expectations that Wall Street may face a more lenient regulatory environment, particularly concerning cryptocurrency firms.
As the SEC’s new direction unfolds, market participants and industry observers are keenly watching the implications for both the crypto sector and broader financial markets.
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