10x Research Predicts Gary Gensler Likely to Resign in 2025 After Biden Exit

Gary Gensler – a name that doesn’t need any introduction by now. The head of the US Securities and Exchange Commission (SEC) has often criticised the crypto industry for alleged wild west methods and for being rife with scams and frauds.

Related: Joe Biden Drops Out of US Elections, What Do His Potential Replacements Think About Crypto?

Now, it seems his time as Chair of the SEC could be limited, at least according to 10x Research founder Markus Thielen. In the latest market research note, Thielen said if Trump gets elected, it possibly spells the end for Gensler. The analyst said, despite Gensler’s term ending in June 2026, it’s unlikely that he stays past early 2025.

Thielen: Trump Has no Challenger, Gensler Will Leave Early 2025

For Bitcoin, a pro-crypto administration will enter the White House. Historically, this meant that the SEC chair resigned when a new administration was elected, despite SEC Chair Gensler’s term ending on June 5, 2026. He will most likely resign by January/February 2025.

Markus Thielen, 10x Research

Thielen added that the recent announcement by Joe Biden not to run for re-election means there is no serious challenger to a Trump presidency.

With Joe Biden dropping out of the US Presidential race, no credible candidate can seriously challenge Donald Trump. The November election appears to have been decided without a single vote.

Markus Thielen, 10x Research

Despite SEC’s History, Ethereum ETF Approval Done Deal

The SEC has rightfully copped a lot of flak for its often-hostile treatment of the industry. This is despite a Gary Gensler who used to teach about blockchain at MIT in 2018 and was generally more pro-crypto. This changed during his tenure at the SEC, when his views on the sector became somewhat politicised.

To his and his agency’s credit, despite all the shortcomings, and there are many – regulation by enforcement, unclear rules around what is a crypto security and completely missing the FTX debacle – they have speeded up the Spot Ethereum ETF approval process.

Before a change in odds in May, many observers weren’t even sure the US would get such a fund in 2024 with the current administration. Then, odds changed, approval was likely and has just been confirmed, with trading starting tomorrow US Time.

Related: Elon Musk Adds Laser Eyes, Is Rumoured to Speak at Bitcoin Conference

The launch is expected to increase institutional interest in ETH and crypto in general, with some analysts predicting the US funds could reach US$13-$15 billion (AU$19.57-$22.59 billion) in AUM in their first six months.