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Ripple CEO Brad Garlinghouse has targeted Gary Gensler in a recent press conference, stating he would be fired even if Kamala Harris becomes president.
The US Securities and Exchange Commission (SEC) chair, Gary Gensler, may be fired regardless of who is elected president in November. According to Ripple’s CEO, Brad Garlinghouse, Kamala Harris’s victory wouldn’t guarantee that Gensler would remain in office.
The Ripple boss said this at a press conference in Seoul on Tuesday, citing discussions with key players in both the Democrats and the Republicans. Garlinghouse stated that both parties are utterly displeased with Gensler’s activities as the SEC boss.
Reports revealed Garlinghouse’s confidence during his assertion, with the Ripple boss stating that anyone could bet their money that Gensler would be out of the job soon. Garlinghouse, who has been in a years-long battle with the SEC, also criticized the SEC boss over his iron-handed approach toward digital assets.
Major Stakeholders Unpleased with Gensler
Garlinghouse stated that Gensler’s handling of cryptocurrencies in the US has turned the leaders of both the Democrats and Republicans against him. It is worth noting that two US lawmakers submitted an SEC Stabilization bill last year to fire Gensler.
The Ripple CEO cited a comment by Gensler that has not gone down well with prominent judges. Gralinghouse stated that the SEC chair used the word “digital asset securities,” which brought widespread criticism from members of the judiciary system.
These comments came amid growing speculation that Harris intends to pick Gensler as Treasury Secretary if elected in November. Although the unconfirmed rumors would see the SEC chief vacate his current position, the power of the new office may create more avenues to continue his clampdown on digital assets.
Recently, Harris has shown interest in cryptocurrencies. Hence, she may consider doing away with the Gensler if it means gaining the sector’s trust. Republican presidential candidate Donald Trump had already publicly declared he would fire Gensler on his first day in office and provide a friendlier environment for digital assets.