US SEC Chair Gary Gensler To Apparently Resign In Early 2025
Highlights
- US SEC Chair Gary Gensler is expected to resign in early 2025, according to a recent report.
- Gensler's resignation coincides with broader political shifts, including President Biden's exit.
- Experts predict that a Trump administration may bring a pro-crypto regulatory environment.
According to a recent report, the U.S. SEC Chair Gary Gensler is set to resign from his chair in 2025, fueling discussions in the crypto market. Several market watchers view Gensler as an anti-crypto official.
Besides, this development also coincides with broader political shifts, including Joe Biden’s unexpected withdrawal from the 2024 presidential race and Kamala Harris running as the Presidential candidate.
US SEC Chair Gary Gensler Likely To Resign In Early 2025
A recent report by 10X Research suggests that with Biden stepping down, no viable candidate remains to challenge Donald Trump. In other words, Joe Biden exiting the U.S. Presidential race cemented bets over Donald Trump’s potential victory in the upcoming election.
Historically, new administrations often lead to changes in key regulatory positions, including the SEC Chair. For instance, Mary Jo White resigned as SEC Chair after Trump’s election in 2016, and Christopher Cox stepped down when Obama took office in 2009.
Meanwhile, Markus Thielen, founder of 10X Research, predicts that Gensler will follow this pattern and resign by January or February 2025. However, Gary Gensler’s term will officially end in June 2026.
Thielen emphasizes that a Trump administration would likely be weighing on the current SEC Chair’s role, given Trump’s pro-crypto stance. This viewpoint is echoed by J.D. Vance, Trump’s pick for VP in the upcoming election, who has criticized Gensler for his stringent approach to crypto regulation.
Also Read: Michael Saylor Highlights Bitcoin Supremacy Over S&P 500
How Will It Impact the Crypto Market?
Thielen also highlighted several bullish indicators for the crypto market, including rumors that Trump might announce Bitcoin as a strategic reserve asset at the upcoming Bitcoin conference in Nashville. Such an announcement could significantly boost Bitcoin’s price.
In addition, Thielen advised investors against selling or shorting Bitcoin before Trump’s speech, predicting that Bitcoin’s previous all-time high could soon be surpassed. This speculation is buoyed by the anticipation of a favorable regulatory environment under a pro-crypto administration.
Analysts believe that the worst of Bitcoin’s recent price volatility, driven by forced govt selling and creditor repayments from the collapsed Mt. Gox exchange, is likely to be over. Additionally, Gary Gensler’s anticipated resignation as SEC Chair in early 2025 aligns with broader political and market dynamics.
The potential shift towards a pro-crypto administration under Trump could herald significant changes in the regulatory landscape, with far-reaching implications for the crypto market.
Additionally, the recent discussions over Kamala Harris’ possible appearance at the Bitcoin Conference have further fueled the discussion. A flurry of market watchers urges Gary Gensler’s exit from the SEC to prove Harris’ recent crypto pivot.
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