“The day after his confirmation hearing, the Senate Agriculture Committee made a quick vote to push Mike Selig toward the overall Senate for a final vote.”, — write: www.coindesk.com
Nominee Selig, a senior official working on crypto policy at the Securities and Exchange Commission, will await that final confirmation vote before he can be sworn in to lead the US commodities watchdog. In that role, it’s likely that Selig would lead US oversight of much of the digital assets sector, especially as Congress continues to work on legislation to add to the agency’s powers.
“This is a critical moment for the CFTC as Congress considers expanding the agency’s authority,” said committee Chairman John Boozman, an Arkansas Republican. “Strong leadership is essential to implement new policies and responsibilities. Michael Selig is the right person to strike that balance.”
Selig had been Trump’s second choice to lead the agency after he dropped the nomination of former CFTC Commissioner Brian Quintenz, who was openly criticized by a top crypto executive close to the president: Gemini CEO Tyler Winklevoss. But Quintenz didn’t make it to this last stage of the process.
As a lawyer at the SEC, Selig has been at the center of work on the agency’s Project Crypto, aimed at establishing friendly policies to encourage the crypto industry. He’s spoken often about digital assets in his confirmation hearing, saying it’ll be a “critical mission” at the CFTC to establish appropriate policies.
“This is a great sign for the industry and the US regulatory system, not only to have a digital asset expert leading the efforts at CFTC on a number of fronts, but specifically for informing ongoing market structure legislative debates,” said Digital Chamber CEO Cody Carbone, in a statement.
The CFTC’s own “crypto sprint” instituted by Acting Chairman Caroline Pham has been running in parallel with the SEC’s crypto efforts. Pham has pushed a number of policies that would land in Selig’s hands, if he’s confirmed.
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence’s Token Security API averaged 717 million monthly calls year-to-date in 2025, with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch, the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B, while derivatives volume peaked the same month at over $4B.
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The Grand Court of the Cayman Islands granted the injunction against Maple Finance completing its own liquid staking token syrupBTC.
- Core Foundation won an injunction against Maple Finance over alleged breaches of confidentiality related to their partnership in bringing the lstBTC token to market.
- The Grand Court of the Cayman Islands granted the injunction against Maple Finance completing its own liquid-staking token or from dealing in CORE tokens pending arbitration.
- The foundation alleged that Maple breached exclusivity obligations and misappropriated Core’s intellectual property and confidential information to develop their own product while amassing $150 million in client assets through their lstBTC partnership.
- Maple denied the allegations of wrongdoing.
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