New SEC administration is already more positive towards crypto than the previous one. Wrapping up of the Ripple vs SEC case is a proof for that as the case is now finally over after 5 years of dragging.
But, will new SEC guys be positive towards other altcoins, especially ADA? Crypto Capital Venture, one of the most popular crypto YouTube channels with 400k subscribers, posted a viral video on this topic.
The Surprising Connection Behind Cardano’s Potential Regulatory Future
Crypto YouTubers just dropped a bombshell. During a Senate Banking Committee hearing, a name popped up that could change everything: Paul Atkins. He’s in line to become the next SEC Chair, potentially replacing Gary Gensler.
Paul Atkins isn’t just another bureaucrat. He owns up to $6 million in crypto-related assets, which already sets him apart from previous regulators. What’s more intriguing is his past appearance on Input Output (IOHK)’s YouTube channel back in 2020, where he discussed crypto adoption. This connection with Cardano’s development team suggests he might have a more nuanced and friendly approach to cryptocurrencies.
Gary Gensler wasn’t exactly crypto’s best friend. He went after crypto companies hard, filing lawsuits left and right. Investors were often painted as fraudsters or people trying to game the system. Now, Atkins looks like he could be a total game-changer. Instead of attacking crypto, he seems open to understanding it.
This potential shift comes at an interesting time for Cardano. Major financial institutions are showing increased interest. Interactive Brokers has added ADA to its platform, alongside other cryptocurrencies like Solana and XRP. Even more impressive is NewBank, a neobank backed by Warren Buffett’s Berkshire Hathaway, which now supports ADA and has over 100 million users in Latin America.
These moves suggest growing institutional legitimacy for Cardano. ADA is currently trading around $0.70, after surviving challenging bear market where it previously dipped to the $0.30 range. Market analysts see a potential “higher low” pattern, which could indicate a positive long-term trend.
The current economic cycle is also crucial. We’re in a Quantitative Tightening (QT) phase, which typically precedes more expansive monetary cycles. Experienced investors know that bull markets often follow periods of liquidity injection. So while ADA might not be mooning right now, the underlying fundamentals look promising.
Even if the ADA price faces further dips, potentially to the $0.50s or $0.40s, the long-term outlook remains interesting and positive.
Read also: Expert Analysts Confident Kaspa (KAS) Will Flip Cardano: Reasons and Potential Timeline Shared
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