HomeNewsCrypto Events to Watch: Ripple's Proper Party and Gensler's Testimony

Crypto Events to Watch: Ripple’s Proper Party and Gensler’s Testimony

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  • SEC Chair Gary Gensler is slated to testify on the oversight of crypto regulations before the House Financial Services Committee on September 27, 2023.
  • Ripple is hosting “The Proper Party” on September 29, 2023, a communal celebration following a partial triumph over the SEC lawsuit.

The crypto-verse is bracing for a seminal week as key events cascade onto the scene. With the second deadline for the US SEC’s spot Bitcoin ETF looming in mid-October 2023, eyes now dart towards other major events that could potentially ripple across the market landscape.

A Crucial Discourse: Gensler’s Testimony

On the dawn of September 27, 2023, SEC Chair Gary Gensler will stand before the scrutiny of the House Financial Services Committee to deliberate on the oversight of the regulatory framework enveloping cryptocurrencies. History recounts a streak of vehement opposition from committee members towards Gensler’s stance on crypto regulation. The echoing debate from April 2023, where Committee Chairman Patrick McHenry probed Gensler on Ethereum’s classification as a security or commodity, is poised to resurface, especially in light of the recent XRP lawsuit verdict, which veered away from tagging token sales to retail buyers as securities.

While on September 29, 2023, the economic spotlight will briefly shift as the Bureau of Economic Analysis unveils the Personal Consumption Expenditures (PCE) Price Index data for August, a return to crypto-centric affairs is imminent.

Ripple’s Celebratory Soiree

Ripple’s “The Proper Party” is set to unveil in New York City on September 29, 2023, marking a community’s exhalation from legal shackles following a partial triumph over the SEC. Although the festivity isn’t directly tethered to XRP‘s demand and supply dynamics, it may sway trader sentiment. The ambiance of celebration, however, may not birth major announcements from the company, as per expectations.

Bitcoin’s Price Conundrum

On the pricing frontier, Bitcoin closed the previous week with a roughly 2% decline. However, crypto analyst CrediBULL discerns this dip as a precursor to a corrective phase, preluding a revival of upward momentum. The murmurings of a bear trap linger as anticipations towards regaining a $27,000 stance brew amidst talks of market manipulation steering the current downward thrust. As the analyst opined, the present descent may be a crafty guise before a bullish expansion unfolds, setting a tentative tone for Bitcoin’s trajectory in the days to follow.

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Marcel Knobloch
Marcel Knobloch
Marcel is the managing partner of ETHNews and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628