Dallas Mavericks owner Mark Cuban publicly stated last week that the Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, may cause the current President Biden to lose re-election in the upcoming 2024 presidential election. He urged Biden to make a choice between Gensler and the cryptocurrency voters, or else he may lose the White House.
Long-time supporter of cryptocurrency, American billionaire and owner of the NBA’s Dallas Mavericks team, Mark Cuban, recently indicated that the tough stance of Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), on cryptocurrency could lead to the current President Biden failing to be re-elected in 2024.
Fox Business reporter Eleanor Terrett tweeted last Friday (14) that Cuban publicly stated at a cryptocurrency summit hosted by Coinbase:
Cuban also hinted in his speech that Gensler’s political career may be coming to an end. He also said that he is informing governors, congressmen, and senators that the SEC’s registration process poses a significant challenge to U.S. cryptocurrency companies, calling it the “unique Gary Gensler problem” in America.
Mark Cuban: Biden must choose between Gensler and the cryptocurrency voters
This is not the first time Cuban has publicly criticized the SEC and Gensler. Last weekend, when replying to a netizen on Twitter, he said, “I’ve said many times, Biden must choose between Gensler and the cryptocurrency voters, or else he may lose the White House.”
Cuban had previously criticized Gensler, stating that there are thousands of financial scams on Twitter every minute, and the SEC turns a blind eye to these scams but goes after Coinbase. He also criticized the SEC for bringing a “regulatory nightmare” to the cryptocurrency industry.
According to Cointelegraph, in May of this year, Cuban also pointed out on Twitter that cryptocurrency voters “will be heard in this election,” and he said, “If Biden loses, you are likely to thank Gensler and the New York SEC.” At that time, he also suggested to Biden to allocate all power to the Commodity Futures Trading Commission (CFTC) to “solve” the issue of attracting young cryptocurrency voters that the current President faces.
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Biden in a hurry! Campaign team busy seeking support from the cryptocurrency industry, virtual currency becomes a focus of the presidential election
Biden, Trump have different stances on cryptocurrency
Recently, cryptocurrency voters have become the target of the two U.S. presidential candidates eager to attract them. Former President Trump has begun accepting political donations in cryptocurrency, and over the weekend, in a special speech on his birthday, he declared that he would “end Biden’s war on cryptocurrency, ensuring the future of cryptocurrency and Bitcoin is Made in USA.”
Biden’s attitude towards the cryptocurrency industry has also become more positive, with reports suggesting that the SEC’s sudden reversal to approve the key document for an Ethereum spot ETF was because Biden urgently needs the votes of young cryptocurrency supporters. It was also reported over the weekend that Biden’s campaign team is in talks with people in the cryptocurrency industry, intending to follow Trump’s example by accepting cryptocurrency donations through Coinbase Commerce.
An insider revealed:
