Axios

Long before Securities and Exchange Commission chair Gary Gensler announced his decision Thursday to step down, the cryptocurrency industry's had its eyes on the next SEC chair.

Why it matters: Personnel is policy.

Passenger-car market share hit an all-time low of 19% through the first 10 months of 2024, according to data released today by car research site Edmunds.

The big picture: America's SUV obsession is showing no signs of slowing down.

Zoom in: The good news for shoppers is that the average price of a new SUV has flattened out.

• Buyers paid $46,211 on average for a new SUV through October, according to Edmunds.
• That's about flat from 2022's $46,030, though it's still up nearly $10,000 over the last eight years.

Nothing screams crypto bull run quite like Justin Sun's winning bid for a banana duct-taped to a wall.

• Or more specifically, the Tron blockchain creator's decision to eat his new $6.2 million banana as "part of this unique artistic experience."

The bottom line: Good look out there folks.

Go deeper: Banana taped to wall sells at auction for $6.24 million

Automakers are hoping that the big thing holding people back from buying EVs is that they're not freaking big enough.

Why it matters: Many of today's EVs are sedans or crossovers, but American car buyers love big SUVs and trucks.

For the second time in as many years, two big-budget movies with major fanfare will premiere on the same date.

Flashback: 2023's summer double-feature phenomenon called "Barbenheimer" raked in $311 million at the box office in its opening weekend.

Elon Musk's alliance with President-elect Trump shaped the 2024 election and its aftermath — but longtime observers of both men doubt their honeymoon can last.

Why it matters: The Trump-Musk power duo could fall out over appointments, competing interests or just jealousy over sharing a spotlight.

Gary Gensler will step down as chair of the U.S. Securities & Exchange Commission at noon on Inauguration Day, the agency announced on Thursday.

Why it matters: Gensler has had an aggressive tenure, marked by controversial rulemaking and a combative approach with the cryptocurrency industry.

Economists warn that the tariffs promised by President-elect Trump will be a drag on the economy. For now, attempts to get ahead of tariffs might be a meaningful, if fleeting, boost to growth.

Why it matters: Some companies are pushing through orders sooner to try to beat the clock on the expected harsher trade regime — the type of activity that, if widespread enough, could temporarily jolt GDP.

You might be eager to defy gravity, but please don't sing about it during the new "Wicked" movie releasing this week.

Why it matters: Some movie theaters and loyal fans are warning against belting out the lyrics and singing with Ariana Grande as Glinda and Cynthia Erivo as Elphaba — at least until a sing-along version is released later this year.

Tokamak Energy, a British fusion energy developer, raised $125 million jn new funding.

Why it matters: The AI revolution needs more power, and one of its second-order impacts is driving venture investment into nuclear fusion, which remains the holy grail for energy.

Official Black Friday sales are getting off to an early start and will continue throughout Thanksgiving week.

Why it matters: Major retailers will be physically closed Thanksgiving, for the fifth year in a row, a change that started in 2020 with the pandemic.

The stock market hasn't looked this top-heavy since the heyday of the so-called "Nifty Fifty" — a group of stocks that included Polaroid, Sears and Eastman-Kodak and that drove a bull market more than half a century ago.

By the numbers: The market value of the top 10 companies in the S&P 500 makes up nearly 37% of the index's total value, the highest since 1965.

The Magnificent Seven's stock market dominance may be waning, Goldman Sachs suggests in an otherwise optimistic 2025 forecast.

Why it matters: The seven tech stocks — Amazon, Apple, Google, Meta, Microsoft, Nvidia and Tesla — have played a huge role in the S&P 500's fabulous run over the past two years.

Here's what's new on Netflix, Peacock, Hulu, Disney+, Max, Apple TV+, Paramount+ and Prime Video.

What we're watching: Another star-studded August Wilson adaptation, a new season of "Based on a True Story," and a docuseries about the tragic 2004 Indian Ocean tsunami.

A Florida man was arrested over an alleged plot to bomb the New York Stock Exchange this week, per FBI court documents filed Wednesday.

The big picture: Harun Abdul-Malik Yener, of Coral Springs, Fla., was charged with "attempting to use an improvised explosive device to damage or destroy a building used in interstate or foreign commerce," per the filing in the U.S. District Court of Southern Florida.