💸 Trump Picks Crypto Champ – XRP’s Future Sparkles!

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So Trump’s going ahead and picking some crypto guy, Michael Selig, to lead the CFTC. Big deal, right? Apparently, he’s the crypto savior, promising to turn the US into the new playground for crypto. What’s the catch? He once confirmed that XRP isn’t as bad as the SEC claimed, so XRP lovers are losing their minds.

Trump’s New Crypto Fanboy at CFTC Means Old Commodities Could Get a Makeover

XRP is back under the spotlight, all thanks to President Trump’s audacious move to appoint Michael Selig as chairman of the U.S. Commodity Futures Trading Commission (CFTC). Now, if you thought leaving Hollywood for New York was bad, imagine being the new sheriff in town for cryptocurrency. Selig, who’s been hanging out at the SEC advising on crypto stuff, revealed his appointment on social media on Oct. 25. So, here we go, another celebrity endorsement of sorts, only this time, it’s for cryptos.

Selig basically tweeted, “Guys, I’m so honored I could burst! With Trump’s bullhorn, the ‘golden age’ of financial markets is just over the horizon!” And with that, promised to bring back the good old days of fun, competition, and making the US the place where crypto goes to party.

“I’ll do whatever it takes to make sure markets are as functional as an episode of Curb Your Enthusiasm. I’m talking freedom, innovation, and lining up America in the winner’s circle for crypto!”

A big thumbs up came from White House’s AI and crypto guru, David Sacks, who thought Selig looked like the next six-time ‘Seinfeld’ character. He’s apparently super smart about the ins and outs of financial markets and really into shaking up regulations. Sacks said, “Mike not only brings the best of crypto from his time at the SEC, working with Chairman Chris Giancarlo at CFTC, but he also knows all the secret moves of traditional commodities markets.”

Trump’s Crypto Pick Sends XRP Climbing the Mountain

When it comes to XRP, good ol’ Selig pretty much put on his Superman cape during the whole SEC vs. Ripple drama. He focused on explaining why Judge Analisa Torres did not throw XRP into the securities pit. In a July 2023 post, he had to break it down for people who clearly missed the memo:

“I keep hearing people saying Judge Torres thinks XRP is a security for institutions but not for retail. Wrong. She said XRP itself isn’t a security but it can be part of that mixed bag security thing.”

To make a point, Selig compared XRP to stuff like gold or whiskey, saying, “XRP is just code – like digital gold or bourbon 2.0 – that can be part of investment schemes.” As for the SEC asking for a whopping $2 billion from Ripple, Selig added, “They walked away with $125 million. Yeah, almost 95% off their original tantrum. When they tried to claim that $2 billion penalty as a straight-shooter, it was like asking Kramer to order ketchup for a steak.”

Selig also noted that Judge Torres’ ruling uncovered what he calls a “massive regulation blind spot,” basically saying, “Crypto usually doesn’t involve securities laws much, but new laws are needed to fix this gap.” He hinted post-court that the whole mess might now mean we’ll see XRP ETFs sliding into DMs soon enough.

“Guess what? We’ll probably start seeing XRP ETFs coming out of the shadows after the Ripple case wraps up.”

FAQ 🧐

  • What does Michael Selig’s appointment mean for XRP investors?
    Might be the jolt XRP investors needed, possibly unleashing new stuff like XRP ETFs. Fingers crossed!
  • How’s the CFTC any different from the SEC when it comes to crypto?
    CFTC is like, “Let’s treat digital assets as commodities,” which could lessen compliance headaches. On the other hand, the SEC’s the nerdy brother who’s always sticking to securities rules.
  • Why does XRP’s status stir the crypto pot?
    By calling XRP a commodity, they set the stage for other crypto tokens, potentially making regulations friendlier for digital assets all around.
  • Could XRP ETFs really be on their way?
    With things in the US changing like a Gotham restructuring, XRP ETFs might just become a reality soon enough, leading to a deluge of institutional investments.

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2025-10-28 03:58