The foreign media "Washington Reporter" pointed out in a report that multiple senior Senate staff revealed that if Vice President Harris Jinli wins the presidential election in November this year, U.S. Securities and Exchange Commission (SEC) Chairman Gary, who is skeptical about cryptocurrency, will Gensler is likely to be nominated for Treasury Secretary.
Gary Gensler, appointed as SEC chairman by current President Joe Biden in 2021, is considered the number one enemy by the cryptocurrency industry due to his harsh enforcement actions against industry-leading projects and companies such as Coinbase, Kraken and Uniswap.
Gary Gensler’s stance on cryptocurrencies has been widely criticized by politicians on both sides of the aisle in the past. Rep. Tom Emmer, a Republican from Minnesota, has said the industry must resist Gary Gensler's "mission to subvert free markets, innovation and global competitiveness," while Democratic Rep. Ritchie Torres of New York argued that Gensler's changes to securities laws Understanding is "plastic and easily manipulated."
Gary Gensler's tenure at the SEC is expected to end in 2026, but that will still depend on whether former President Trump is re-elected.
On the other hand, the "Washington Reporter" also mentioned that SEC Commissioner Caroline Crenshaw may replace Gary Gensler as the new head of securities regulation. Tom Emmer also said that Massachusetts Senator Elizabeth Warren, who is opposed to cryptocurrency, may also become a contender for Treasury Secretary.
The newspaper describes itself as a "right-wing" digital media outlet that focuses on government affairs. Its editorial team is composed of members who describe themselves as full-time Republican political "operators" and was founded in 2024.
Caitlin Long, CEO of Avanti Bank and a blockchain expert in Wyoming, was skeptical of the news. She posted on Everyone.
Bloomberg Intelligence analyst Eric Balchunas expressed a similar sentiment, saying on X that he could definitely see this being a fabricated rumor:
“If you’re a Republican and you want to solidify the cryptocurrency vote, letting people see Gary Gensler gain more power is probably one of the most powerful tools. Even if it’s not true, it’s very impactful.”
