Michael Selig has been sworn in as Chairman of the U.S. CFTC

2025-12-252025-12-23 by admin

BlockBeats News, December 23rd, according to an official announcement, Michael Selig has been sworn in as Chairman of the U.S. Commodity Futures Trading Commission (CFTC). Michael Selig stated, “This is a unique time: emerging technologies, products, and platforms are proliferating, retail participation in commodity markets has reached historic highs, and Congress is about to submit the Digital Asset Market Structure Act to the President, which will solidify the United States’ position as a global cryptocurrency hub. I am honored to take on the significant responsibility of overseeing the stability and security of the U.S. commodity derivatives market during this period of rapid transformation.”

Previously, Michael Selig served as the Chief Legal Counsel of the U.S. Securities and Exchange Commission (SEC) Cryptocurrency Working Group and as a Senior Advisor to Chairman Paul Atkins.

PANews reported on December 31 that Tom Lee, co-founder of Fundstrat and chairman of BitMine, wrote on the X platform: "Typically, during these last holiday trading sessions, many institutional investors exit the market, and algorithmic trading programs and bot trading programs begin to dominate the market, along with sell-offs for tax avoidance. These constitute the market dynamics in the last few days of December." Previously, in BitMine's announcement of acquiring 44,463 ETH last week, Tom Lee mentioned that market activity tends to slow down as the year enters its final weeks of holiday season. Year-end tax-avoidance selling depresses cryptocurrency and cryptocurrency-related stock prices, with this effect typically most pronounced between December 26th and December 30th; therefore, they are adjusting their market strategy accordingly. Earlier today, it was reported that Bitmine pledged another 118,944 ETH and increased its holdings by 32,938 ETH .