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Billionaire entrepreneur Mark Cuban recently commented on the potential impact of cryptocurrencies on the 2024 US presidential election, suggesting that former President Donald Trump may have an advantage over incumbent President Joe Biden due to his stance on crypto regulations.
Cuban noted the important role of cryptocurrencies in the upcoming elections, especially in light of President Biden's loyalty to Securities and Exchange Commission (SEC) Chairman Gary Gensler.
While Cuban expressed doubt that Biden or Trump fully understand cryptocurrencies despite Trump's NFT-related fundraising efforts, he said crypto fan votes could be a crucial factor differentiating the candidates.
“I have said many times that Biden must choose between Gensler or crypto voters or it could cost him the White House,” Cuban said in a statement on social media platform X. “As for who will be appointed, nothing is certain I don't see it as such.”
Cuban criticized Gensler's tenure, arguing that the SEC Chairman has failed to protect investors from fraud and made it “nearly impossible” for cryptocurrency firms to operate. “Crypto voters will make their voices heard in this election,” Cuban said.
*This is not investment advice.