It is rumored that Harris will appoint Gary Gensler as Treasury Secretary, Bloomberg analyst: Fabricated rumors!

According to the Washington Reporter , if Vice President Kamala Harris wins the presidential election in November this year, she may nominate current U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler as Treasury Secretary. However, Bloomberg analyst Eric Balchunas believes this is a fabricated rumor.

Will Harris nominate Gensler as Treasury Secretary?

The report pointed out that multiple senior Senate staff said that if Harris wins in November, she plans to nominate Gary Gensler as Treasury Secretary. There are also rumors that he may step down as SEC chairman, allowing President Joe Biden to nominate a new chairman before the November election.

Previously, Cathie Wood, founder of Ark Invest, also mentioned the speculation that Gensler wants to serve as the Secretary of the U.S. Treasury because the Secretary of the Treasury is focused on legal currency (USD). Perhaps this is why he has repeatedly hindered the Bitcoin spot ETF. reason.

( Cathie Wood: Gary Gensler’s Treasury Secretary’s ambitions hinder approval of Bitcoin spot ETF )

Gensler, who was appointed SEC chairman by President Joe Biden in 2021, has been deeply opposed by the cryptocurrency community for his enforcement actions against industry-leading companies and projects such as Coinbase, Kraken and Uniswap. His tenure as SEC official ends in 2026, but may depend on whether former President Trump wins the election. The Trump team has recently been expressing its friendliness to the encryption industry and promised to fire Gary Gensler on the first day of taking office.

( Trump promised in Bitcoin 2024 to fire Gary Gensler and ensure that the United States becomes a Bitcoin power )

Eric Balchunas: Made-up rumors

Bloomberg analyst Eric Balchunas wrote on X:

It’s completely safe to assume that this is a fabricated rumor!

He believes this is a tactic by Republicans to boost votes among cryptocurrency supporters, which is effective, if not true.

But Balchunas also noted that Gensler worked for Treasury secretary during President Clinton's term. He's clearly qualified in terms of qualifications, although he also comes with a lot of baggage.