Key Takeaways:
- Mark Cuban warns that SEC Chair Gary Gensler’s actions might harm President Biden’s re-election prospects.
- Cuban advocates for the CFTC to regulate cryptocurrencies, believing crypto voters will be crucial in the 2024 election.
- Former President Trump has pledged support for the crypto industry, criticizing Biden’s regulatory approach.
Billionaire investor Mark Cuban has expressed concerns that Gary Gensler’s actions as head of the SEC could negatively impact President Joe Biden’s re-election chances.
Speaking at Coinbase’s State of Crypto Summit, Cuban suggested that Gensler could “literally cost Joe Biden the election.”
🚨NEW: @mcuban says @GaryGensler could “literally cost @JoeBiden the election” because of all the young voters that own crypto.
— Eleanor Terrett (@EleanorTerrett) June 13, 2024
“If he has a political career in mind, he’s done,” Cuban says of Gensler. https://t.co/zNtsI2QyZB
Cuban has previously called for regulatory clarity and suggested the CFTC should oversee cryptocurrency regulation instead.
He believes crypto voters will be influential in the 2024 election and warned that if Biden loses, it could be due to Gensler and the SEC’s actions.
🚨🇺🇸MARK CUBAN: IF TRUMP WINS, THANK THE SEC | "CRYPTO VOTERS WILL BE HEARD!"
— Mario Nawfal (@MarioNawfal) May 11, 2024
"If Biden loses, there is a good chance you will be able to thank Gary Gensler and the SEC.
Crypto is a mainstay with younger and independent voters.
Gensler HAS NOT PROTECTED A SINGLE INVESTOR… pic.twitter.com/rNOAL0a8uL
Biden has reportedly started discussions with cryptocurrency insiders to accept crypto donations for his campaign, but Cuban thinks this move may be too late.
In contrast, former President Donald Trump has recently shown strong support for cryptocurrency, promising to end Biden’s perceived anti-crypto stance and to ensure the future of crypto in America.
JUST IN: 🇺🇸 Donald Trump says he will "end Joe Biden's war on crypto, and ensure that the future of crypto and the future of #Bitcoin will be made in America." pic.twitter.com/UdQBzXJOGZ
— Watcher.Guru (@WatcherGuru) June 15, 2024
Trump has criticized Biden’s approach, stating that Biden wants the crypto industry to “die a slow and painful death.”
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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