Gary Gensler Expected To Resign After Biden Exit – Which Crypto Coins Can Benefit The Most?

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As a seasoned crypto investor with over a decade of experience in the market, I can’t help but feel a sense of relief and excitement at the prospect of Gary Gensler’s impending resignation from his position as SEC chairman. His anti-crypto stance has been a thorn in the side of the industry for years, resulting in numerous lawsuits against crypto companies and causing uncertainty in the market.

There’s increasing chatter that Gary Gensler may step down as chairman of the Securities and Exchange Commission (SEC) as early as 2025, irrespective of the US presidential election results. This follows President Joe Biden announcing the end of his re-election bid on Sunday, with Vice President Harris emerging as his successor.

 

JUST IN: SEC Chair Gary Gensler tipped to resign in 2025 after Biden exit. 

— Radar🚨 (@RadarHits) July 22, 2024

 

In this situation, the cryptocurrency market is expected to experience significant growth based on current trends. Critics, including industry professionals, investors, legislators, and judges in the United States, have strongly criticized Gensler’s negative stance towards cryptocurrencies.

According to experts, the prices of cryptocurrencies like XRP and Solana may experience significant growth in the near future due to the market’s reaction to the news of Gensler’s departure.

Gary Gensler To Resign – Even In A Harris Presidency?

The opposing viewpoint held by Gary Gensler towards cryptocurrencies is reportedly causing significant harm to the digital currency sector.

As a researcher studying regulatory actions within the financial technology sector, I’ve come across some significant developments. During my investigation, I discovered that under their leadership, the Securities and Exchange Commission (SEC) pursued legal action against Ripple in 2021 for alleged violations of the Securities Act. Unfortunately for the SEC, they didn’t secure a victory in this case, which was decided in 2023. Moreover, the commission took legal steps against Coinbase, Binance, and several other cryptocurrency exchanges, accusing them of selling unregistered securities illegally.

Based on my extensive background in law and experience as the current Chair of the Securities and Exchange Commission (SEC), I believe that most large-cap altcoins, such as Solana, Cardano, and MATIC, can be classified as securities. My perspective stems from the legal definition of a security under U.S. law, which includes any digital asset that represents an investment contract or an inferred right to receive future profits.

The opposition of Gary Gensler to cryptocurrencies has negatively affected President Biden and the Democrats politically, as the number of American crypto holders has surpassed 50 million. It’s no wonder that Republican candidate Donald Trump is gaining considerable backing from crypto investors and industry professionals due to his recent pro-crypto stance.

If the Democratic Party fails to secure the White House, it’s almost certain that Gary Gensler will resign. Yet, there is a possibility that he may step down even if Kamala Harris wins the presidency. Some experts believe that Harris might attempt to distance herself from Biden and Gensler’s negative stance towards cryptocurrencies as she aims for victory in November.

Finance attorney Scott Johnsson points out an intriguing trend: SEC chairs, including Gary Gensler, often leave their positions shortly after a new president from the same political party takes office. In fact, most of them don’t make it past the first year. Consequently, there is speculation that Gensler might not remain in his position for long either.

Which Crypto Coins Could Benefit From Gensler Exit?

Chances of Gensler gone one year from now are up dramatically.

— Scott Johnsson (@SGJohnsson) July 21, 2024

ChancesWhich Crypto Coins Could Benefit From Gensler Exit?

It’s no wonder that XRP is predicted to gain significantly if Chairman Gensler steps down from the Securities and Exchange Commission (SEC).

SDNY District Judge Analisa Torres has previously ruled in favor of Ripple, determining that the company’s distribution of XRP through programmatic sales did not breach the Securities Act. The Securities and Exchange Commission (SEC) holds the authority to challenge this judgment. Nevertheless, the possibility of an appeal reduces substantially under a new SEC administration.

Unsurprisingly, the XRP price is up nearly 40% since the odds of a Trump victory have increased. 

The departure of Gary Gensler from his role at the Commodity Futures Trading Commission (CFTC) might significantly increase the likelihood of an approved Exchange-Traded Fund (ETF) for Solana, benefiting the cryptocurrency platform.

A change in leadership at the Securities and Exchange Commission (SEC) could spark renewed interest in the cryptocurrency market. Under this circumstance, fresh crypto projects might experience surging demand and potentially yield impressive gains.

For example, the newly introduced meme coin WienerAI has amassed more than $7 million in investments during its early presale phase. This success can be attributed to its unique blend of humorous memes and advanced artificial intelligence technology.

As a crypto investor, I’m excited about this project as it aspires to develop the ChatGPT equivalent for cryptocurrency – an AI trading bot that can effectively answer all my investment-related queries in the crypto space. Additionally, holding the project’s token comes with added benefits such as MEV protection and effortless swaps, all without incurring any extra costs.

As a savvy financial analyst, I’ve noticed that astute traders in the marketplace have promptly identified the considerable growth prospects of this new investment. Some of them are even optimistic about potentially achieving tenfold returns following its debut in August.

A fresh meme coin named Pepe Unchained has caught the attention of investors with its impressive presale results. The project has successfully amassed close to $5 million through seed funding.

In the upcoming weeks, coins based on the frog theme are predicted to surge, with Pepe coin leading the charge due to its robust bullishness. Nevertheless, Pepe Unchained may distinguish itself among its competitors, given its unique feature of a native Layer-2 blockchain.

As a PEPU token holder, you’ll enjoy the perks of low trading fees and enticing staking rewards, creating an alluring environment that is likely to attract a significant number of retail investors.

Some crypto influencers are aiming for up to 100x returns after Pepe Unchained’s launch.

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2024-07-22 19:39