Billionaire investor and cryptocurrency advocate Mark Cuban lately shared his ideas on the potential chaos that Gary Gensler’s actions as head of the Securities and Alternate Fee may wreak on incumbent United States President Joe Biden’s re-election bid.
Talking at Coinbase’s State of Crypto Summit, Cuban recommended that Gensler may “actually value Joe Biden the election,” in line with Fox Enterprise reporter Eleanor Terrett.
This is not the primary time Cuban has publicly indicated he believes Gary Gensler, and by extension the SEC itself, may derail Biden’s second-term hopes. has lengthy required regulatory readability. As Cointelegraph reported again in Might 2024, Cuban known as on the US Commodity Futures Buying and selling Fee (CFTC) to take over the duties of regulating cryptocurrencies.
On the time, he stated crypto voters “will likely be heard on this election,” referring to the 2024 US presidential election. He additionally warned that “if Joe Biden loses, there is a good likelihood you’ll be able to thank Gary Gensler and the New York SEC.”
Joe Biden on cryptocurrency
President Biden has reportedly begun discussions with cryptocurrency trade insiders a couple of potential shift to accepting crypto donations for his marketing campaign. It could be too little or too late for the president, as his tenure has been marked by a comparatively damaging perspective towards the trade.
On the topic: Biden Vetoes Home and Senate Votes on SEC Anti-Crypto Decision: The Regulation Is Cracked
In any other case, it is unclear how the incumbent plans to method the problem if it comes up throughout the remainder of the marketing campaign. It’s attainable that this subject will likely be raised throughout future presidential debates
Donald Trump on cryptocurrency
Former US President Donald Trump’s stance on cryptocurrency is starkly totally different from Biden’s. In a 180-degree flip, Trump lately provided his full assist for the know-how.
As Cointelegraph lately reported, Trump promised to “finish Joe Biden’s battle on crypto” and “make certain the way forward for crypto and the way forward for Bitcoin is made in America.”
In earlier feedback, Trump wrote on his social community Fact that he would defend the cryptocurrency trade from authorities violations and that “however, sleazy Joe Biden, the worst president within the historical past of our nation, needs it to die a gradual loss of life. and an agonizing loss of life.”