Donald Trump’s increasing chances in the 2024 presidential elections are triggering speculation on the future of US SEC Chairman Gary Gensler. XRP legal commentator MetaLawMan, known for his analysis on regulatory issues, laid out possible scenarios for Gensler if Trump wins the elections.
Resignation or Dismissal
MetaLawMan stated that traditionally, agency heads resign when a new president takes office. In the first scenario, MetaLawMan noted that Gensler could follow a similar path to SEC Chairman Jay Clayton resigning shortly after Biden’s inauguration. This could allow the Trump administration to appoint a new SEC Chairman consistent with its policy line.
If Gensler does not resign voluntarily, MetaLawMan suggested Trump could request a resignation on his first day. If Gensler complies with this request, this option would speed up the transition and minimize any disruption at the SEC. But if Gensler chooses to stay, Trump could reappoint him to a non-presidential role within the SEC; However, it was stated that such a decision would need legal and procedural justifications.
SEC Chairman’s Career
As discussions about Gensler’s possible departure intensify, some commentators are considering where Gensler might move to his new job if he resigns. According to MetaLawMan, many predict that Gary Gensler could move on to prominent roles in academia or international institutions such as the International Monetary Fund.
Given Gensler’s extensive regulatory experience and political connections, he is also considered likely to join corporate boards or take on executive roles in the private sector.
Increase in Trump’s Election Chances
The probability of Donald Trump winning in the 2024 elections is increasing significantly on blockchain-based decentralized prediction platforms. A major investor in Polymarket reportedly deposited more than $7 million in support of Trump, pushing Donald Trump’s chances to 66.7% to Kamala Harris’ 33.4%.
Large sums of money supporting Trump on platforms such as Polymarket are viewed by some commentators as reflecting voter trends more quickly than traditional polls. But this is not real. Rate increases that are portrayed as the opinion of a significant portion of the electorate are just the speculation of a few traders. Kamala remains ahead in Reuters and other polls.
Howard Lutnick, CEO of Professional Capital Management, emphasized in a recent podcast that Trump’s economic policies have protected job growth and U.S. industries. “His America First policy resulted in 3% GDP growth and wage increases,” Lutnick said, comparing this to the inflationary effects of current Democratic policies.
As a result, Donald Trump’s increased electoral chances could have significant impacts on the future of SEC Chairman Gary Gensler and US crypto policies in general. Gensler’s possible resignation or reassignment could impact the SEC’s regulatory processes and overall market dynamics. At the same time, election-related developments may also be decisive in shaping economic policies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
