Hedera (HBAR) Price: Is Brian Brooks and SEC the Reason for the Rise?

21/11/2024
Altcoin, News

The crypto world has a new star: Hedera (HBAR). The token has literally shot through the roof in recent days. The reason for this: the name Brian Brooks. The former head of the US Office of the Comptroller of the Currency (OCC) and ex-CEO of Binance.US is rumored to be on the list of potential candidates for the chairmanship of the US Securities and Exchange Commission (SEC).

After these speculations became known, HBAR saw its price rise by over 25 percent within 24 hours. Even more impressive: In the last seven days, the token increased by more than 150 percent. Within two weeks, HBAR even tripled. The current price is $0.14, while in the bull phase of 2021 it was still at $0.56.

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Hedera (HBAR) Price: Is Brian Brooks and SEC the Reason for the Rise?

Brian Brooks is no stranger to the crypto scene. He has made a name for himself in the industry as a proponent of innovative regulations. Since March 2023, he has also been a member of the board of the Hedera Foundation, the organization behind HBAR. The fact that his name is being bandied about for such a prestigious position as the SEC chairmanship triggered a wave of euphoria – and not just among HBAR investors.

But the rumors about Brooks continue. As Fox Business reporter Eleanor Terrett reported, he is also being considered for other key positions in the financial world, including the Commodity Futures Trading Commission (CFTC), the Office of the Comptroller of the Currency (OCC) and the Financial Industry Regulatory Authority (FINRA).

🚨NEW: FOX Business has learned that former OCC Acting Director under Trump @BrianBrooksUS is on the lists for “various financial agency roles besides the CFTC”, according to a source close to him.

Outside the CFTC, some of the other financial regulatory agencies are the…
— Eleanor Terrett (@EleanorTerrett) November 18, 2024

Trump-Armstrong conversation: Will Brooks’ name be mentioned?

The role of Canary Capital is also exciting. The US investment firm, which has already applied for spot ETFs for Solana and Litecoin, has now applied for an HBAR spot ETF. This news came at the same time as the Brooks speculation and is likely to have further fueled the price increase.

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Insiders speculate that Brooks’ name could also play a role in a meeting between Coinbase CEO Brian Armstrong and Donald Trump. You can find out what the meeting will be about here . The symbiosis of political influence and crypto market dynamics makes it clear: HBAR could remain in the spotlight even further.