After Biden, it may be Gary Gensler's turn to step down in 2025
Mr. Trump's presidency will shake Gary Gensler's position as SEC Chairman, 10x Research founder Markus Thielen said.
US Securities Commission (SEC) Chairman Gary Gensler may resign in the first two months of 2025, right when President Joe Biden ends his term in the White House. This is the prediction of 10x Research founder Markus Thielen.
In a market report published on July 21, Thielen said that the SEC Chairman will often step down when a new administration appears in the White House. Above all, Mr. Trump's ticket will even bring disaster to Gensler's role as head of the securities agency.
According to a representative of 10x Research, Mr. Biden's decision to abandon the election almost ensures that Mr. Trump will be sworn in as president in January 2025. Thielen argues:
"With Joe Biden withdrawing from the US Presidential race, there is currently no candidate strong enough to defeat Trump. Therefore, the November election results seem to be clear without waiting for the votes to be counted. One official Pro-crypto right will enter the White House.
SEC Chairman Gensler's term will last until June 5, 2026, but there is a high possibility that he will resign in January or February 2025.
Earlier this year, Mr. Trump's trusted deputy, JD Vance, criticized Gensler as the "worst leader" in managing the cryptocurrency sector, criticizing him for having an outdated and political approach. overzealousization of crypto policy.
In addition, Thielen also noted that there will be a series of catalysts affecting the crypto market in the coming weeks, not excluding the possibility that Mr. Trump will make a surprise statement at the upcoming Bitcoin 2024 Conference on May 25. 07 comes. Thielen assumes:
"I speculate he will announce Bitcoin as a strategic reserve asset, which will trigger Bitcoin price increase!"
Don't get too excited about Mr. Trump's chances of winning
Some other experts gave opposite views to 10x Research. Swyftx analyst Pav Hundal warned that although Mr. Trump's chances improved after Biden dropped out, it is still quite early to conclude what the crypto market will do. Hundal said:
"The recent price increase may be due to early Ethereum ETF speculation, and it is important for investors to be cautious and not get too excited in the short term."
Similarly, Gary Black - managing partner of The Future Fund - also commented that Trump's presidential victory is far from achieved.
"Many people think that Trump/Vance will win overwhelmingly. In fact, the American public does not have high expectations for Mr. Trump after the events of January 6.
I'm not a fan of Biden or Kamala, but the Democrats still have the right to nominate Newsom, Michelle Obama, or another front-runner as their Presidential candidate. Therefore, do not rush to conclusions about Trump's second term as president."
Other experts believe that, despite the current political instability in the US, Bitcoin and the entire crypto market still have a lot of room for growth in the future. The "flood" of Bitcoin liquidation by the German government and the "ghost" of debt repayment by Mt. Gox's collapse is the worst nightmare in the history of this field's development!
