Key facts
- Trump nominated Steven Levine to replace Hester Peirce as an SEC commissioner among four SEC and CFTC picks.
- The SEC has two of five commissioner seats filled; CFTC Chairman Michael Selig is the commission's sole member.
- Jensen Huang resigned as Nvidia president and CEO and left the board, effective immediately.
- Nvidia named CFO Colette Kress interim CEO and Harvey C. Jones its first board chair.
- Nvidia shares fell more than 13% after the US open on Thursday, trading at $151.00 as of 2:31 p.m. UTC.
- Coinbase's Roeland Van der Stappen said EU DeFi restrictions could push users to less-protected platforms.
US President Donald Trump nominated Steven Levine to replace Hester Peirce, a prominent crypto advocate, as a Securities and Exchange Commission commissioner, the White House announced on Thursday. The announcement named two nominees each for the SEC and the Commodity Futures Trading Commission, and all four require Senate confirmation. The SEC has two of its five commissioner seats filled, while CFTC Chairman Michael Selig is the sole member of his agency's five-seat commission. The nominations come weeks before Democrats take control of the Senate in January.
Nvidia co-founder Jensen Huang resigned as president and CEO and stepped down from the board on Thursday, effective immediately. The board named Chief Financial Officer Colette Kress interim CEO, retaining her CFO role while it considers internal and external candidates, and appointed Harvey C. Jones its first chair. Nvidia shares fell more than 13% shortly after the US market opened on Thursday, trading at $151.00 as of 2:31 p.m. UTC, according to Yahoo Finance. Bitcoin fell as much as 3.5% to a multimonth low. The shares later pared losses to trade at $165 at 4:24 p.m. UTC, down 5% on the day and more than 26% over the previous month.
Coinbase's head of EU policy, Roeland Van der Stappen, told Cointelegraph that EU efforts to tighten oversight of decentralized finance could drive users toward platforms with fewer investor protections. In its September response to the European Commission's consultation on MiCA, the European Securities and Markets Authority recommended a new category of regulated crypto services for firms giving customers access to DeFi protocols.