'Biden Should Fire Gary Gensler' Quote Mark Cuban And Crypto Roundtable Attendees

Highlights

Mark Cuban urged US President Joe Biden to fire SEC Chair Gary Gensler.
Notable attendees on Ro Khanna's crypto roundtable were Brad Garlinghouse, Mike Novogratz, and Anita Dunn, among others.
The crypto community has expressed frustration with the SEC's stance on the crypto sector.

The crypto industry has been closely watching the recent developments and reports from Ro Khanna’s crypto roundtable with Mark Cuban. Notably, key figures, including Mark Cuban, voiced their frustration with SEC Chair Gary Gensler and urged the Biden administration for his dismissal. Besides, the meeting highlighted the growing tension between the crypto sector and U.S. regulators.

Crypto Leaders Express Frustration On Administration

In a high-profile meeting held at the Willard Hotel, influential figures from the $2 trillion cryptocurrency industry met with senior White House officials to address regulatory concerns. Organized by California Congressman Ro Khanna and billionaire entrepreneur Mark Cuban, the meeting aimed to mend the strained relationship between the crypto community and the Biden administration.

Notable attendees included Ripple CEO Brad Garlinghouse, SkyBridge Capital’s Anthony Scaramucci, and Galaxy founder and CEO Mike Novogratz. Anita Dunn, a senior adviser to President Biden, listened to the attendees’ grievances about the SEC’s actions.

Meanwhile, many described their negative experiences with the U.S. SEC, and Dunn appeared genuinely surprised by the accounts, according to a recent report by Eleanor Terrett. According to the report, one attendee bluntly told Dunn, “You guys suck on crypto,” reflecting the frustration within the industry.

Another attendee, a lifelong Democrat, criticized the administration’s handling of digital assets.

Also Read: Donald Trump to Attend Bitcoin 2024 Conference, Is It Another Election Ploy?

Mark Cuban Urges Biden To Fire Gary Gensler

In a recent X post, Eleanor Terrett provided more insights from the crypto roundtable. According to her, Mark Cuban, a long-time critic of the SEC, was vocal at the meeting. After Dunn left, Cuban stated, “Biden should fire Gary Gensler,” a sentiment he allowed attendees to quote.

Notably, Cuban has a history of opposition to the SEC, dating back to a 2004 insider trading accusation, from which he was cleared in 2013. However, he believes the roundtable meeting was productive and anticipates changes in how the Biden administration and Democrats will support crypto.

Meanwhile, the roundtable also saw discussions about the White House’s decision to re-nominate SEC Commissioner Caroline Crenshaw, known for her anti-crypto stance. In addition, Senator Kirsten Gillibrand explained the regulatory complexities surrounding digital assets. Besides, she highlighted her new stablecoin legislation with GOP Senator Cynthia Lummis as a step towards proper regulation.

Notably, the meeting underscored the crypto industry’s dissatisfaction with the current regulatory landscape. The participants effectively communicated their frustration, hoping it would lead to more favorable policies. As the Biden administration navigates these concerns, the crypto community remains watchful, seeking a balanced approach that fosters innovation while ensuring compliance.

Also Read: Republicans Should Unite to Stop Anti-Crypto SEC Commissioner Crenshaw, Says Pat Tommey

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Rupam Roy

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