The billionaire investor Mark Cuban believes that the President of the SEC of the USA, Gary Gensler, could “cost Joe Biden the elections” due to the hostility towards crypto.
Mark Cuban: SEC Chairman as an obstacle to Joe Biden’s election because against crypto
Mark Cuban, famous pro-bitcoin and cryptocurrency billionaire, spoke at the Coinbase’s State of Crypto Summit, stating that Gary Gensler of the SEC could “literally cost Joe Biden the election”.
Reporting it is Eleanor Terrett, journalist of Fox Business, with her tweet:
“NEW: @mcuban says @GaryGensler could “literally cost the elections to @JoeBiden because of all the young voters who own cryptocurrencies.” “If he has a political career in mind, he’s finished,” says Cuban about Gensler. NEW: @mcuban tells participants at the State of Crypto event by @coinbase that he is telling senators, governors, and representatives that the problem for American #crypto companies is the registration process of the @SECGov. Cuban calls it “a uniquely American problem of @GaryGensler””.
In practice, for Cuban, the President of the Securities and Exchange Commission of the USA acts as an obstacle to Joe Biden’s elections because he drives away all the young crypto holder voters.
Not only, for Cuban, Gensler has become the only problem even for crypto companies, especially regarding the registration process with the SEC.
Mark Cuban against the SEC President: “excludes all young crypto voters from voting for Joe Biden”
In reality, Cuban is not the first time he has taken a stand against Gensler and accused him of being an obstacle for Joe Biden’s elections.
Already last month, the pro-bitcoin billionaire investor reiterated his thoughts, also accusing Gensler of not protecting any investor against scams but only making life impossible for crypto companies.
If @joebiden loses, there is a good chance to thank @GaryGensler and the @NewYork_SEC. Cryptocurrencies are a reference point for younger and independent voters. Gensler HAS NOT PROTECTED A SINGLE INVESTOR AGAINST FRAUD.
All it has done is make it almost impossible for legitimate cryptocurrency companies to operate, killing who knows how many businesses and ruining who knows how many entrepreneurs. This is also a warning to Congress. Cryptocurrency voters will be heard in these elections. You could solve this problem for Biden by passing legislation that defines a specific registration for the cryptocurrency industry, just like other sectors have a defined registration for them. Or you could do the better option and assign all cryptocurrencies to the regulation of the @CFTC. They really know what they are doing.
The message from Cuban against Gensler refers to the criticisms expressed by the SEC Chairman towards the bill on the crypto market awaiting a vote in the US House of Representatives.
According to Gensler, the proposed law excludes blockchains and crypto from securities regulation, and therefore could undermine investor protection.
The surveys on Polymarket
At the beginning of June, the traders of Polymarket continued to bet on the victory of Donald Trump for the 2024 elections. This, despite his conviction of guilt to which, however, for 75% of the bets still on Polymarket, Trump will not go to prison.
Specifically, the two-week bets on Donald Trump as the new President of the USA were 56% against Joe Biden’s 37%.
At the time of writing, while the bets on Trump have remained at 56%, the bets on Joe Biden becoming the new President of the USA have instead decreased. From 37%, Biden is now supported by 34% of Polymarket traders.
This article was originally published by a en.cryptonomist.ch . Read the Original article here. .