Crypto Researcher Predicts Gensler's Pre-Term Resignation After Biden's Exit

SEC Chair Gary Gensler refused to clarify the status of Ether as a security or a commodity during a Congress hearing last year. U.S. House Committee on Financial Services YouTube | Oversight of the Securities and Exchange Commission (Credit: U.S. House Committee on Financial Services YouTube Channel/Screenshot)

KEY POINTS

• The SEC under Gensler has dragged a sizeable number of crypto firms to court
• 10x Research's Thielen believes Gensler will quit early next year – over a year before the end of his term
• Mark Cuban and Brad Garlinghouse have said Gensler will cost Biden the 2024 election

U.S. President Joe Biden has dropped out of the 2024 presidential race, and his exit is expected to have significant ramifications on the Democratic Party, as well as on the U.S. Securities and Exchange Commission (SEC), whose chief Gary Gensler has become quite disliked by a rising group of voters: cryptocurrency users.