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Will Gary Gensler Be Fired? Crypto Community Slams Kamala Harris For Zero Actions

Crypto industry leaders lose trust in Kamala Harris's support for the crypto market and call for the resignation of SEC Chair Gary Gensler.
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Will Gary Gensler Be Fired? Crypto Community Slams Kamala Harris For Zero Actions

Highlights

  • Cardano CEO asks why hasn't Kamala Harris fired Gary Gensler amid her crypto support.
  • Harris adviser Brian Nelson talks of supporting emerging technologies with no specific mention of crypto.
  • Donald Trump overtakes Kamala Harris per the Polymarket data as Kennedy Jr. plans to drop out.

Speaking at the Democratic National Convention (DNC), Brian Nelson, the senior campaign advisor to Kamala Harris said that they would support pro-crypto policies along with the growth of other emerging technologies. But crypto industry veterans feel that this is yet another bluff from the Harris team as the Vice President doesn’t act on her words. Cardano chief Charles Hoskinson expressed ZERO trust in the Harris team while asking them for SEC Chair Gary Gensler’s resignation.

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Kamala Harris Crypto Market Support – All Fluff No Stuff?

As we know, the Crypto for Harris campaign has been trying to prop up the image of Kamala Harris as a pro-crypto Presidential candidate only to counter Donald Trump’s outreach to the crypto industry. However, under the current Biden administration, the US Vice President hasn’t made any special efforts to address the concerns of the crypto industry.

Although Harris’s advisor Brian Nelson talked about undertaking pro-crypto policies at the Democratic National Convention, the 92-page DNC document released earlier this week has no mention of crypto.

Cardano CEO Charles Hoskinson expressed strong skepticism over Kamala Harris’s crypto market support citing the lack of any concrete policy proposals. He also highlighted the absence of specific action while questioning whether SEC Chair Gary Gensler would be removed, what legislation Harris supports, and what executive actions might be issued.

Hoskinson asked why are there no immediate policy changes in the current administration. “I’m sorry there is ZERO trust. We need specific, tangible actions,” he wrote. Fox Business journalist Eleanor Terret also called out the bluff stating that Harris’s campaign adviser Brian Nelson didn’t actually say anything about “crypto” or “digital assets” in his address.

Nate Geraci, the ETF Store President said: “My take on this is very simple… Actions speak louder than words. Current admin, of which Harris is a part, is decidedly anti-crypto. There’s always balance b/w innovation & regulation. Focus has been solely on regulation. Need to demonstrate embracing innovation. Actions”.

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Harris Loses Ground to Donald Trump

As per the Polymarket data, Kamala Harris has been once again losing ground to her opponent Donald Trump. As per the prediction platform, Trump has 53% odds of winning the election in comparison to 46% for Harris.

This shift comes amid the rising chances of Robert F. Kennedy Jr. endorsing Trump while deciding to drop out from the presidential race.

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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