GameStop, Bitcoin dominate Biden’s SEC pick Gary Gensler’s confirmation hearing

Lawmakers criticized President Biden’s appointment, appointing him to the post of Gary Gensler, chairman of the Securities and Exchange Commission, and he took a difficult step forward.

For the U.S. financial market, his confirmation hearings are in a precarious situation. In the U.S., retail dealers' transaction volume is showing a strong growth trend. These small investors are behind some of the recent volatility associated with a large number of short-selling stocks, such as GameStop and AMC.

Gensler once directly led the Commodity Futures Trading Commission. He talked about the role of Bitcoin and technology in the financial market, and hinted that under the continuing influence of Robinhood trading, the review of the "order flow payment" method of work will cease in January.