Mark Cuban says; Biden should fire Gary Gensler

The crypto industry has become a political topic ahead of the November 2024 elections. Progressive Rep. Ro Khanna (D-Calif.) hosted a crypto roundtable with Mark Cuban, and other key figures in the blockchain industry also appeared.

Industry representatives, such as Blockchain Association’s Kristin Smith, Kraken’s Marco Santori, Coinbase’s Paul Grewal, and Crypto Council for Innovation’s Sheila Warren, showed up for the conversation.

Gary Gensler becomes crypto enemy number one

According to detailed reports by the attendees, most of them voiced their frustration with SEC Chair Gary Gensler. Since Gensler took over the SEC office, he has had crypto in a chokehold. Many who attended have urged the Biden administration to simply fire Gary Gensler.

Eleanor Terrett, a journalist for FOX Business, writes on X that “A chunk of the meeting consisted of industry describing their terrible experiences with the @SECGov. Anita Dunn seemed genuinely surprised by our description of the SEC’s actions.”

As detailed by Eleanor, one attendee flat out told Dunn, “You guys suck on crypto,” a sentiment most in the crypto industry agrees with. 

Also Read: Bitcoin Recovery Influences ETF Inflow; BTC Breaches $59k

In the same X post, Eleanor Terrett says, “I was also told that @mcuban gave attendees permission to quote him as saying at the end of the meeting (after Dunn had left) that “Biden should fire Gary Gensler.” Cuban has retweeted her post in confirmation.

Mark Cuban has been a long-time SEC critic. In 2024, the SEC accused Cuban of insider trading. The legal battle was long and tiring, but he cleared himself 11 years later, in 2013.

Cuban believes the roundtable meeting was productive. Attendees remain hopeful that the Biden administration and Democrats will support crypto. Having Anita Dunn, one of Biden’s closest advisors, around was a milestone, to say the least.

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Note that Dunn came in a personal capacity not to represent POTUS. Other industry attendees included Ripple CEO Brad Garlinghouse, Galaxy CEO Mike Novogratz, BitGo CEO Mike Belshe, and Anthony Scaramucci.

Also Read: Capital Management CEO; Bitcoin will Survive Germany Dump

Florence Muchai

Florence Muchai is an experienced crypto journalist with 4 years experience in Crypto, Blockchain, Web3, NFT and AI. Florence holds a Bachelor's Degree in Disaster Management and International Diplomacy. She also has a Master's Degree in Clinical Psychology. Florence enjoys being a digital nomad and her writings tell value, wealth and in-depth understanding of decentralized and traditional finance.

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