Bitcoin bulls might be uncorking the champagne (or congratulating each other on social media) – a staunch critic at the SEC, Commissioner Caroline Crenshaw, could be on her way out.

Crenshaw's Term Up, Silence from the White House

Crenshaw, known for her skepticism towards Bitcoin and crypto in general, was appointed alongside the more crypto-friendly Commissioner Peirce in 2020. Their terms both expire in June, and with less than two months to go, there's been no word on a replacement for Crenshaw.

This silence from the White House, especially during an election year, has some speculating it could be the end of the road for Crenshaw.

A Possible Ally Lost?

While SEC Chair Gary Gensler hasn't exactly been crypto's biggest cheerleader, Crenshaw's departure could be a bigger blow. Unlike Gensler, she outright opposed Bitcoin spot ETFs, even after the SEC lost a related court case.

In a scathing dissent, Crenshaw called Bitcoin a "petri dish" of fraud and questioned the revolutionary nature of a system that seemed to replicate traditional finance with less oversight.

What Does This Mean for Crypto?

Crenshaw's exit might not be a guaranteed win for crypto, but it could be a step towards a more open dialogue between regulators and the industry. With Gensler potentially staying put, it's unlikely to be a free pass, but it could be a shift in the conversation.