Doc's Daily Commentary and Watchlist
Mind Of Mav
SEC Chairman Gensler Likely to Resign in 2025
A new report from crypto research company 10X Research, released on July 21, suggests that Gary Gensler’s tenure as Chair of the U.S. Securities and Exchange Commission (SEC) could end as early as next year if there is a change in the administration following the 2024 presidential election.
Initially, Gensler’s term was set to conclude on June 5, 2026. However, the report from the Markus Thielen-founded organization indicates that this timeline might be shortened. Historically, federal regulators tend to resign when a new administration takes office, which could have significant implications for the cryptocurrency sector.
If the Republican nominee Donald Trump wins the election, Thielen predicts that Gensler will “most likely resign” by January or February 2025. This forecast comes in the wake of President Joe Biden’s announcement that he will not seek re-election. Although Vice President Kamala Harris has received Biden’s endorsement and is aiming to secure her party’s nomination, she has yet to face any challengers.
In his July 21 market report, Thielen noted that the SEC chair typically steps down with the change of administration, and a Trump victory would particularly jeopardize Gensler’s position. He pointed to Biden’s withdrawal as a signal that Trump could potentially win the presidency, a scenario that some industry experts dispute.
Despite Gensler’s term officially ending in June 2026, Thielen wrote that Gensler would likely resign in early 2025. Trump’s running mate, J.D. Vance, has criticized Gensler’s approach to crypto regulation, calling it overly politicized.
There is speculation that Trump may make significant announcements regarding digital assets at the upcoming Bitcoin Conference 2024 in Nashville. Thielen suggests that Trump might declare Bitcoin as a strategic reserve asset, which could significantly impact Bitcoin’s price.
The news of Biden’s unexpected withdrawal adds further uncertainty to the election cycle, making the outcome of the 2024 election particularly crucial for the future of cryptocurrency regulation. The results of the November 2024 election will likely shape the regulatory landscape for the crypto industry for years to come.
Join Our New ReadySetCrypto Platform!
Join our new interactive, community-driven ReadySetCrypto platform!
What we’ve found is that the Crypto market moves too quickly to support a TradFi portfolio-based market.
The Crypto market is all about identifying opportunities AS THEY OCCUR, and understanding precisely when to enter, and most importantly, when to exit.
ReadySetCrypto has been re-engineered to help you identify these opportunities as they occur with clear, time-tested price-based signals.
Better yet, you can convert your account to this new service for the same price (or probably less) than what you’re paying now.
You can check it out for free for a week by signing up at readysetcrypto.ONE, where you can access the new site either on your workstation, or on a new mobile app by installing the Mighty Network app on Android or Apple.
If you’d like to convert your account, please let us know by contacting us at support (at) readysetcrypto.tempurl.host
We’ll take care of ensuring that your old subscription is closed down, and that we match (or improve) your monthly subscription rate. Annual rates are also available for a significant discount.
Convert your account today and let’s make this new year an amazing one!
Sincerely….your team at ReadySetCrypto