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In a statement on Thursday, the U.S. Securities and Exchange Commission (SEC) stated that Corey Frayer will join SEC Chairman Gensler’s executive team as senior advisor on cryptocurrency regulation, providing advice related to cryptocurrency policymaking and interagency work. Frayer has worked as a professional staff member of the Senate Banking Committee as well as a senior policy adviser for the House Financial Services Committee. The appointment of Frayer may affect Gensler’s public position on cryptocurrency-related policy changes.
The cryptocurrency assets under the management (AUM) of Grayscale Investment is now 43.6 billion USD, a decrease of more than 28% from the 61 billion USD in early November. The company’s largest product, Bitcoin Trust’s AUM fell from US$43.5 billion to US$30.4 billion, a 30% drop during this period. BTC fell to $45,000 on Friday evening and quickly pulled back to $47,000 in the following hours, and it has been trading around $47,000 to $48,000 during the weekend. If the bear manages to sink the price below $45,000, the next support level could be $42,000.
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