Trump-backed stablecoin USD1 partners with Enso to expand its DeFi footprint across various blockchains

Bitcoin reached high of $119,863

The post Mike Selig Appointed as New CFTC Chair Amid Crypto Focus appeared on BitcoinEthereumNews.com. Felix Pinkston Oct 28, 2025 04:08 Mike Selig, former SEC Crypto Task Force leader, has been appointed by President Trump as the new CFTC Chair, marking a pivotal shift in U.S. crypto regulations. In a significant development for the U.S. financial regulatory landscape, Mike Selig has been appointed as the new Chair of the Commodity Futures Trading Commission (CFTC) by President Donald Trump, according to CryptoNews. This appointment follows Selig’s tenure as the leader of the Securities and Exchange Commission’s (SEC) Crypto Task Force, where he served as chief counsel. Mike Selig Speaks Amid CFTC Chair News Selig expressed his gratitude and vision on social media, stating he was “honored” to take on the role of CFTC Chair. He emphasized the potential for a “Great Golden Age for America’s Financial Markets,” attributing this to the President’s leadership. Selig pledged to enhance the functioning of commodity markets and bolster the U.S. position as a leader in the crypto space. His appointment is seen as a strategic move to align the CFTC’s policies with the growing influence of digital assets in financial markets. Selig’s previous role at the SEC, where he focused on crypto regulations, is expected to influence his approach at the CFTC. Brian Quintenz Nomination Withdrawn After Winklevoss Concerns Selig’s nomination follows a tumultuous period involving the initial nominee, Brian Quintenz, who faced opposition from prominent figures in the crypto industry, including the Winklevoss twins. Concerns were raised regarding Quintenz’s alignment with the administration’s crypto policies, leading to the withdrawal of his nomination. Quintenz’s candidacy was marred by controversy, particularly after private communications with Tyler Winklevoss surfaced, discussing past litigation with the CFTC. The incident highlighted the complexities and political sensitivities surrounding crypto regulation. President Trump, who has been a vocal supporter…

PANews reported on October 28 that according to SoSoValue data, the total net inflow of Bitcoin spot ETFs yesterday (October 27, Eastern Time) was US$149 million. The Bitcoin spot ETF with the largest single-day net inflow yesterday was the Ark Invest and 21Shares ETF ARKB, with a single-day net inflow of US$76.401 million. Currently, ARKB's total historical net inflow has reached US$2.187 billion. The second is Blackrock ETF IBIT, with a single-day net inflow of US$65.266 million. Currently, the total net inflow of IBIT has reached US$65.371 billion. As of press time, the total net asset value of the Bitcoin spot ETF was US$155.888 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) reached 6.83%, and the historical cumulative net inflow has reached US$62.134 billion.