Billionaire investor and cryptocurrency advocate Mark Cuban recently shared his thoughts.
Billionaire investor and cryptocurrency advocate Mark Cuban recently shared his thoughts on the potential for chaos resulting from Gary Gensler’s actions as chairman of the Securities and Exchange Commission, which could harm the re-election bid of current US President Joe Biden.
Speaking at Coinbase’s State of Crypto Summit, Cuban opined that Gensler could “literally cost Joe Biden the election,” according to Fox Business correspondent Eleanor Territt.
This is not the first time Cuba has publicly stated that he believes Gary Gensler, and by extension the SEC itself, could serve as a foil to Biden’s hopes for a second term. He has long called for regulatory clarity. As Cointelegraph reported in May 2024, Cuba called on the United States Commodity Futures Trading Commission (CFTC) to take over crypto regulatory duties.
At the time, he said crypto voters “will be heard in this election,” referring to the 2024 US presidential election. He also warned that “if Joe Biden loses, there’s a good chance that you can thank Gary Gensler and the SEC.” .” At New York”.
Joe Biden talks about cryptocurrencies
President Biden has reportedly begun discussions with cryptocurrency industry insiders about a possible pivot toward accepting cryptocurrency donations for his campaign. This may be too little, too late for the president, as his tenure has been characterized by a relatively negative attitude toward the industry.
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Furthermore, it is unclear how the outgoing president plans to handle the problem when it arises during the rest of the campaign. This question could be raised during the next presidential debates
Donald Trump on cryptocurrency
Former US President Donald Trump’s stance on cryptocurrencies differs significantly from Biden’s. In a complete 180-degree turnaround, Trump recently gave his full support to this technology.
As Cointelegraph recently reported, Trump pledged to “end Joe Biden’s war on cryptocurrencies” and “ensure that the future of cryptocurrencies and the future of Bitcoin is done together.” America “.
In previous comments, Trump posted on his social network “Truth” that he would protect the cryptocurrency industry from government abuse and that “crook Joe Biden, on the other hand, the worst president in the history of our country , wants to die.” slowly.” And a painful death.
