- Members of the crypto community are shocked by a report that Kamala Harris could nominate Gary Gensler as Treasury Secretary if elected.
- The report comes after Democrats released their 2024 platform without any mention of crypto.
- Polymarket odds reveal that Kamala Harris briefly led against Trump after the start of the Democratic National Convention.
The crypto community reacted on Monday to a report claiming that Kamala Harris would likely nominate Securities and Exchange Commission (SEC) Chairman Gary Gensler as Treasury Secretary if elected. The report accompanies the Democratic National Convention, which began today, leading Harris to overtake Trump in Polymarket’s ratings.
Kamala Harris faces criticism as reports of Gensler retention spark outrage
A report alleging that Kamala Harris would potentially nominate SEC Chairman Gary Gensler as Treasury Secretary, if elected president, has sent shockwaves through the crypto community.
The report, published by the Washington Reporter, has caught the attention of several members of the crypto community who are increasingly skeptical of Kamala Harris’ campaign. However, Caitlin Long, founder and CEO of Custodia Bank, said several Democrats confirmed the rumors were false.
At the same time, several prominent voices have expressed concerns about the potential negative impact of Gensler’s appointment on the crypto industry due to the SEC’s heavy crackdown on crypto companies over the of his term as president.
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Nevada Senate candidate Sam Brown also commented:
This much is clear: Kamala Harris is a radical who wants the federal government to spy on Americans and our bank accounts.
This is the anti-crypto, anti-privacy, anti-innovation ticket.
Gensler (whom Jacky Rosen voted to confirm!) would be a disaster for EVERYONE. https://t.co/jtZt76cbl7
– Sam Brown (@CaptainSamBrown) August 19, 2024
Additionally, Harris and the Democratic Party have been criticized for their lack of support for cryptocurrency, as their latest 2024 platform did not mention crypto. In comparison, the GOP platform has a specific section dedicated to crypto, Artificial Intelligence (AI) and space.
Crypto’s omission from the platform suggests the opposite of earlier speculation that his campaign is seeking to mend differences the crypto industry has faced with the Biden administration.
However, Eleanor Terret said she understands the recent Democratic platform was written before President Joe Biden withdrew from the race in November’s presidential election.
In others newsPolymarket’s odds indicate an increase in support for Harris, briefly surpassing Trump after the start of the Democratic National Convention. The odds currently indicate a tie between the two candidates.