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Ripple’s XRP token surged and crypto market leader Bitcoin (BTC) is edging closer to the psychological $100K mark after US Securities and Exchange Commission (SEC) Chair Gary Gensler announced he will step down next month.
Remittance token XRP soared more than 24% in the past 24 hours to trade at $1.38 as of 3:30 a.m. EST. Bitcoin climbed more than 1% to $98,772 after earlier hitting a new all-time high (ATH).
<img decoding="async" class="aligncenter" src="https://financefeeds.com/wp-content/uploads/2021/12/Brad-Garlinghouse.jpeg" alt="Ripple CEO Garlinghouse Ousted From Citigroup Over Crypto Ties - FinanceFeeds">
<h2 id="span-style-font-weight-400-ripple-ceo-thankful-that-gary-gensler-is-stepping-down-span">Ripple CEO “Thankful” That Gary Gensler Is Stepping Down</h2>
This came after Gensler shared his resignation announcement in a Nov. 21 thread on X. The SEC executive disclosed that he will step down as the regulator’s chair on Jan. 20, 2025, after Donald Trump is inaugurated as president.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 On January 20, 2025 I will be stepping down as <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SECGov</a> Chair.
 A thread 🧵⬇️
 — Gary Gensler (@GaryGensler) <a href="https://twitter.com/GaryGensler/status/1859658192298574096?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 21, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
“It has been an honor of a lifetime to serve w/ them on behalf of everyday Americans &amp; ensure that our capital mkts remain the best in the world,” he said.&nbsp;
Ripple CEO Brad Garlinghouse <a href="https://x.com/bgarlinghouse/status/1859659691883983275" rel="noopener noreferrer nofollow">retweeted</a> Gensler’s resignation thread on X, adding that he is “thankful” for Gensler’s resignation this Thanksgiving. 
This follows a multi-year-long lawsuit between Ripple Labs and the SEC over XRP’s security status.
<h2 id="span-style-font-weight-400-bitcoin-nears-100k-as-gensler-resignation-boosts-crypto-euphoria-span">Bitcoin Nears $100K As Gensler Resignation Boosts Crypto Euphoria</h2>
With Gensler leaving the <a href="https://insidebitcoins.com/news/federal-judge-rejects-bid-by-kraken-to-appeal-decision-in-sec-case" rel="noopener noreferrer nofollow">SEC</a> and pro-crypto President-elect <a href="https://insidebitcoins.com/news/donald-trump-mulls-first-ever-crypto-white-house-role-report" rel="noopener noreferrer nofollow">Donald Trump</a> entering the White House next year, crypto prices have started to rally due to investor euphoria.
 Market leader <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> set a new all-time high of $99,467.89 earlier today. With the new peak, BTC is less than $1K from achieving the major $100K milestone.
Institutional investors are also rushing to buy Bitcoin, with <a href="https://farside.co.uk/btc/" rel="noopener noreferrer nofollow">data</a> from Farside Investors showing that US spot Bitcoin ETFs (exchange-traded funds) recorded over $1 billion in inflows yesterday. 
BlackRock’s IBIT maintained its dominance after over $608 million entered the fund. Fidelity’s FBTC took second place with its $301 million inflows on the day.
In addition to BTC and XRP pumping, the cat-themed segment of the market was among the best performing with a more than 8% pump.
Mog Coin (MOG) led gains by the biggest cat-themed tokens by market capitalization, but it was a new meme coin by the name of CatSlap (SLAP) that stole the spotlight. 
<a href="https://insidebitcoins.com/visit/catslap" rel="noopener noreferrer nofollow">CatSlap Token</a> went viral on social media and has soared 1,756% in the last 24 hours.&nbsp;&nbsp;
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XRP Soars, Bitcoin Nears $100K After Hitting New ATH As Gary Gensler Confirms SEC Exit

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