Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Gary Gensler Likely To Resign In First 2 Months Of 2025 After Joe Biden Leaves The White House, 10X Research Says

Insidebitcoin2024/07/22 13:53
By:Insidebitcoin

US Securities and Exchange Commission (SEC) Chair Gary Gensler is likely to resign during the first two months of 2025 after Joe Biden finishes his term at the White House, said 10X Research founder Markus Thielen.

The SEC Chair usually resigns when a new administration is elected, and should former president Donald Trump retake the White House it would likely spell disaster for Gensler, Thielen said in a July 21 report. Gensler’s term is scheduled to end in June 2026.

Gary Gensler Resignation Could End SEC’s Attack On Crypto

The potential resignation of Gensler could bring an end to the SEC’s attack on the crypto industry. Under Gensler’s leadership, the SEC has employed a regulation-by-enforcement approach to the nascent digital asset space that has been widely criticized by crypto industry leaders.

President Biden announced his official withdrawal from the presidential race on July 21. Thielen believes the development makes Trump a near certainty to be sworn in as the new president.

“With Joe Biden dropping out of the US Presidential race, no credible candidate can seriously challenge Donald Trump,” Thielen wrote. “The November election appears to have been decided without a single vote.”

Trump’s Pro-Crypto Stance

Trump has recently adopted a positive stance towards the crypto industry. Not only has he opened up donations for his campaign in digital assets, he is also pushing for the last unmined BTC to be produced in the US.

The former president announced his intention to launch a fourth NFT (non-fungible token) collection as well, and has promised to be ”crypto president” if he is elected. 

Meanwhile, Trump is set to deliver a 30 minute speech at Bitcoin 2024, which is considered one of the biggest crypto conferences in the world, on July 27.

Speculation has been on the rise that Trump might announce BTC as a strategic reserve for the US at the event. However, there has been no confirmation from Trump or his team that this will happen.

Following Biden’s withdrawal from the presidential race, the crypto market cap recorded a minor uptick to stand at over $2.44 trillion as of 3:40 a.m. EST.

BTC edged up, pushing the market leader’s value to $67,324.36 while also nudging its weekly performance past 6%.

Related Articles:

  • Upcoming Crypto Presales: Unlock Early Investment Opportunities!
  • Meme Games Races Past $160,000 In Presale In Under 3 Days As Market Seeks Gold Medal Meme Coin
  • Top 5 Meme Coins to Invest In as the Crypto Market Recovers – $PEIPEI, $PEPU, $HOPPY, $MGMES, $PONKE
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Stake to earn
CEC, QTLX, GDV and other popular new coins are in hot progress!
Stake now!

You may also like

Ethereum Cannot Recover! What to Expect from ETH Price in the Coming Months? Analysts Point to These Dates for Bottom and Rise!

Analysts said they predict that Ethereum could bottom in the next 2-4 months.

Bitcoinsistemi2024/09/13 21:00

Bill Laboon, Director of Education at Web3 Foundation, on Polkadot’s 1000 Referendums, Centralized Points in Decentralized Polkadot, and Sprinkling B

The Director of Education and Governance Initiatives at the one and only Web3 Foundation arrives to Cryptonews. Bill Laboon is on fire in this episode.

CryptoNews2024/09/13 20:24

The road to the US election is paved with political memecoins — now down 90%

There’s still over 50 days left until the election, or as it should be known, the Superbowl for political memecoins

Blockworks2024/09/13 20:18