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If Trump Is to Fire SEC Chair Gensler on Day 1, Why Isn’t Ripple (XRP) Surging Today?

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The votes are in, and it’s now official that the 47th US President will be the 45th one – Donald J. Trump. Now, the crypto industry will wait to see if he will follow through on his multiple promises to let it thrive and support it in various ways.

One of those promises made during the Nashville Bitcoin Conference earlier this year involved Gary Gensler, the current Chair of the Securities and Exchange Commission.

Trump to Fire Gensler?

Recall the events that transpired in late July, when the former BTC critic took the stage on the largest US Bitcoin Conference and, among other things, said he will fire Gensler on his first day in office if he wins the elections. He was so adamant in his proclamation that he highlighted it twice after the crowd went wild with ovations.

Now that the former and future President has officially declared himself the winner, the question arises about whether Gensler will indeed be out of the job come January.

Gensler and the agency he led for several years have been at the forefront of multiple lawsuits against crypto companies. While they have lost quite a few battles or settled at best, Gensler has ultimately failed to provide clear regulation regarding digital assets and has caused confusion on which of them are actually securities.

Perhaps the most well-known tussle the SEC has been engaged in is with Ripple. It started nearly four years ago, and the Commission sued the Brad Garlinghouse-led firm, claiming that the initial XRP sales constituted unregistered securities sales worth $1.3 billion.

The case is yet to be resolved, even though there have been many developments on the matter, which you can check here and here. Nevertheless, it seems, at least in theory, that Ripple could be among the biggest beneficiaries if Gensler is no longer at the helm of the SEC in the next few months. So, what’s happening with XRP’s price?

Why No Real Pump, XRP?

Most of the market surged today following Trump’s initial lead and subsequent victory. Bitcoin registered a new all-time high above $75,000, SOL soared by 15% to surpass BNB as the fourth-largest digital asset, DOGE shot up to north of $0.2 due to its Musk affiliation, while numerous other meme coins charted double-digit increases.

At the same time, XRP is a modest 4% up on the day. At one point, it even lost its spot as the seventh-largest cryptocurrency to DOGE but has managed to reclaim it.

The reasons behind this lack of enthusiasm, to say the least, could be multi-fold. First, it will be a couple of months before Trump goes into office. Second, he would actually need to be true to his word and, indeed, fire Gensler. Third, there’s no indication of who will be the next SEC Chair, what policies they will have related to the cryptocurrency industry, and the lawsuit against Ripple, in particular.

Consequently, there’s still a lot of uncertainty regarding the current political situation and Ripple’s case against the US securities regulator. XRP bulls might have to wait a bit longer to see the conclusion of the lawsuit and what would happen to the asset’s price.

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Anthony Pompliano’s ProCap Financial to Go Public with $750M War Chest for Bitcoin Holdings

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ProCap Financial has joined the growing list of firms seeking to become publicly traded bitcoin treasuries, announcing plans to go public through a merger with Columbus Circle Capital Corp. I, a special purpose acquisition company (SPAC).

The firm was founded by investor and crypto entrepreneur Anthony Pompliano, who confirmed raising over $750 million in funding, including $235 million through convertible debt.

The remaining capital was secured through equity financing. Unlike several other companies still navigating regulatory hurdles, ProCap says it is ready to begin purchasing bitcoin immediately.

The company intends to eventually hold up to $1 billion worth of bitcoin on its balance sheet. At the same time, it is building a suite of financial services that includes lending, trading, and capital markets.

Several companies are pursuing bitcoin-focused strategies aimed at stock market investors, such as Trump Media’s $2.5 billion reserve plan. This trend mirrors the model adopted by Michael Saylor’s Strategy, which used public company status to build a bitcoin treasury. However, ProCap says its approach involves creating a broader business model by offering bitcoin-denominated financial services in addition to holding the asset.

According to Pompliano, the goal is to construct a full-service financial platform that mirrors traditional Wall Street institutions but is built entirely on bitcoin rather than fiat currency. The company’s backers will have immediate exposure to bitcoin.

In a statement to CNBC, Pompliano explained,

“Many companies don’t care about the cost of capital. We do. We are traditional capital allocators – we care about building a sustainable business that generates cash flow.”

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GSR Foundation Backs Mercy Corps Ventures via Lido Impact Staking, Advancing a New Model for Philanthropic Capital Deployment

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[PRESS RELEASE – London, United Kingdom, June 23rd, 2025]

The GSR Foundation has announced its latest initiative as an Institutional Impact Staker by supporting Mercy Corps Ventures through the Lido Impact Staking mechanism. This partnership marks a significant step forward in the evolution of philanthropic finance, enabling capital preservation while unlocking sustained funding for high-impact development work.

Lido Impact Staking allows institutional capital to remain in ETH, while the staking rewards generated by that ETH are directed towards funding vetted organisations tackling systemic challenges in emerging markets. By choosing to support Mercy Corps Ventures in this way, the GSR Foundation demonstrates continued confidence in this novel, transparent mechanism for philanthropic giving – one that aligns long-term value creation with verifiable impact.

Impact Through Staking

Mercy Corps Ventures, the impact investing arm of global development agency Mercy Corps, is exploring yield-based mechanisms to support its mission of building venture solutions that increase the resilience of underserved communities.

With its Crypto for Good Fund, MCV has partnered with over 30 protocols and startups to reach over 3,000,000 users and provide innovative financial solutions for underserved communities. These solutions have resulted in $10M+ in on-chain transaction volume, generating significant time and cost savings for low-income populations across Africa, Asia and Latin America. The staking returns will support the growth of the Crypto For Good Fund.

This collaboration between GSR Foundation and Mercy Corps Ventures reflects the growing momentum behind yield-based giving, particularly in the Ethereum ecosystem. It highlights how financial innovation can power the work of global development actors, while ensuring that donated capital remains productive and intact.

As more institutions begin to explore staking as a means to fund real-world outcomes, the partnership between GSR Foundation and Mercy Corps Ventures serves as a model for future philanthropy, where the capital is efficient, transparent, and puts impact-first.

About Mercy Corps Ventures 

Mercy Corps Ventures is the impact investment arm of Mercy Corps, an international development agency (501c3) operating in 40+ countries around the world. MCV has made 50+ equity investments, including crypto startups such as Goldfinch (Warbler Labs) and Open Forest Protocol, and has launched 20+ real-world crypto use cases through the Crypto For Good Fund.

About Lido Impact Staking

Lido Impact Staking (LIS) emerged alongside Ethereum’s transition to Proof of Stake, spearheaded by Launchnodes – a company established in April 2020 to empower individuals and institutions to operate their own Ethereum validator nodes while retaining full custody of their assets. As a pioneer in non-custodial staking infrastructure, Launchnodes has played a crucial role in making decentralized staking more accessible and secure.

In 2023, the Lido Ecosystem Grants Organization (LEGO) awarded Launchnodes strategic funding to develop a dedicated middleware layer that would enable staking rewards to be redirected toward high-impact social causes. Built atop Lido’s battle-tested staking framework, this innovation marked the beginning of what is now known as Lido Impact Staking.

Today, LIS collaborates with global NGOs, philanthropic foundations, development institutions, and mission-aligned investors to redefine how impact is funded. By channeling ETH staking rewards into the support of digital public goods and humanitarian projects, LIS offers a crypto-native, regenerative approach to philanthropy, unlocking continuous, on-chain funding for a better world.

Users can start supporting Mercy Corps Ventures by impact staking

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4 Things That Could Rattle Bitcoin and Crypto Markets This Week

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Crypto markets took a big dip in late trading on Sunday, with Bitcoin falling below $100,000 for the first time since early May, but it appears to be recovering already.

Markets have been highly volatile over the past week amid geopolitical tensions and the US air strike on Iranian nuclear facilities over the weekend.

Those tensions escalated with Iran threatening to close the Straits of Hormuz, a key shipping channel, which would impact global oil prices.

Russia has also reportedly stated that countries are ready to supply Iran with nuclear weapons.

Economic Events June 23 to 27

Key inflation data is due this week, kicking off with June’s S&P Global Manufacturing PMI and Services PMI preliminary readings on Monday,

These purchasing managers’ indexes are leading economic indicators used by analysts to gain insights into changing economic conditions and rates of change.

Tuesday will see home sales data and consumer confidence reports released, while Federal Reserve Chair Jerome Powell will be speaking before Congress to give lawmakers an update on the central bank’s views on inflation and the economy.

Thursday will see more GDP data released for Q1, which will paint a broader picture of the state of the economy and what to expect going forward.

Friday’s Personal Consumption Expenditures (PCE) for May is the big report of the week as it tracks changes in inflation based on consumer spending. The Fed considers the annualized Core PCE Price Index its preferred gauge for inflation in the US.

A very busy economic calendar combined with increased tensions in the Middle East is likely to create a very volatile week ahead for crypto markets.

Crypto Market Outlook

Digital assets continued to weaken over the weekend following US military action in the Middle East and more rhetoric from Iran and Russia as the situation escalates.

Markets lost 4% in a fall to $3.15 trillion but managed to recover slightly during early trading in Asia on Monday morning.

Losses were led by Bitcoin, which fell to $98,500 briefly in its first sub-six-figure dip since May 8. However, BTC had reclaimed the $101,000 level at the time of writing.

Ethereum dumped more than 7% in a fall to $2,135, its lowest level since it broke above $2,000 in early May. Nevertheless, it also made a minor recovery to trade around $2,240 on Monday morning.

Altcoins were all in the red aside from Hyperliquid as markets continue to weaken again.

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