Under the US Constitution, the President has the power to fill vacancies during the Senate's recess by granting commissions that expire at the end of their next session. This authority enabled Trump during his first term to appoint individuals who might not have been approved by the Senate. Recess appointments are designed to be temporary and not a replacement for Senate approval. President Joe Biden nominated Gensler as an SEC commissioner in 2021, with the Senate confirming him in a 54 to 45 vote for a term ending in June 2026. During Trump's first term, he adhered to the constitutional process for appointing SEC commissioners but also attempted to bypass the Republican-controlled Senate for a US Attorney General recess appointment.
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Christensen's statement comes amid ongoing discussions about the potential for growth and innovation within the DeFi space. The decentralized finance sector has been closely linked to the performance of major cryptocurrencies like Bitcoin, which often serve as indicators of broader market trends. A significant increase in Bitcoin's value could potentially lead to renewed interest and investment in DeFi projects, which have experienced fluctuations in popularity and adoption over recent years.
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According to Odaily, the U.S. stock market opened with varied movements as the Dow Jones Industrial Average rose by 0.2%, while the S&P 500 Index increased by 0.1%. In contrast, the Nasdaq Composite Index experienced a slight decline of 0.07%.
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