Hedera's price surge today can be attributed to the growing opposition against SEC Commissioner Caroline Crenshaw's renomination. Crypto groups, including the Cedar Innovation Foundation, have launched campaigns to block her confirmation, citing her strong anti-crypto stance and opposition to Bitcoin ETFs. This movement has gained traction as the Senate Banking Committee prepares to vote on her renomination. The crypto community's pushback against Crenshaw, who is perceived as more extreme than SEC Chair Gary Gensler, has created a positive sentiment in the market, boosting confidence among investors.
Coinbase CEO Brian Armstrong's public criticism of Crenshaw further fueled the market's optimism. Armstrong labeled her a "failure" and called for her removal, highlighting her opposition to Bitcoin ETFs as detrimental to the industry's growth. His remarks, along with support from other industry leaders, have amplified the crypto community's voice, signaling a potential shift in regulatory dynamics that could favor digital assets. This collective effort to influence the Senate's decision has resonated with investors, contributing to the upward momentum in Hedera's price.
Hedera's price has increased by 6.16% today, reaching $0.298448, with a high of $0.300298.