The US Presidential and Congress elections are now over and Ripple CEO Brad Garlinghouse has called out Gary Gensler in his post-vote analysis. According to the Ripple CEO, the war on crypto by the Chairman of the US Securities and Exchange Commission (SEC) is worth holding him accountable for.
Gary Gensler, Crypto Agenda and Donald Trump
For the past two US SEC’s admistration, the broader crypto industry has faced significant regulatory strain. Industry leaders have decried the regulation by legal enforcement strategies propounded by Gary Gensler, a major subject during this election.
With series of lawsuits, settlements and Wells Notices sent to crypto firms this year, there was a pent up anger in the industry. In the run-up to the election, Donald Trump emerged on the frontlines with a promise to overhaul the industry’s enforcement woes. This campaign strategy worked fine, complemented with Wells Notices sent to OpenSea, Robinhood and Uniswap among others.
All this culminated into the visible crypto voter showing in the election. In Massachussets for instance, John Deaton had about 100,000 more votes from non-Trump supporters as revealed by lawyer MetaLawMan. In his Campaign for the Senate seat, Deaton had a very bullish pro-crypto stance. Notably, the Ripple CEO said overall, the Democrats need to hold Gary Gensler accountable for ignoring the law.
If you needed even clearer evidence that the crypto voter is alive and well, here it is in the data…
I hope the Dems find a way to hold @GaryGensler accountable for ignoring the law. https://t.co/rJA2SCczG6
— Brad Garlinghouse (@bgarlinghouse) November 7, 2024
Future of the US SEC Under Trump
The victory of Donald Trump is one that crypto leaders are celebrating. Many are projecting that there will be improved crypto regulations overall.
In the runup to the election, Trump promised to fire Gensler from his very first day in office. Many are now projecting that the top regulator may resign before this happens. At the moment, the speculation per the right replacement for the US SEC Chairman is growing.
SEC Commissioners Hester Peirce and Mark Uyeda and Robinhood CLO Dan Gallagher are among the top picks to replace Gary Gensler.
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