Billionaire entrepreneur Mark Cuban has emphasized the significant role that cryptocurrency will play in the upcoming U.S. presidential race, particularly focusing on President Joe Biden’s allegiance to Securities and Exchange Commission (SEC) Chairman Gary Gensler.
Cuban expressed doubts about whether either President Biden or former President Donald Trump truly understands cryptocurrency, despite Trump’s venture into non-fungible tokens (NFTs) as a fundraising tool. Nevertheless, Cuban believes that the stance on cryptocurrency could become a key differentiator between the two candidates in the November 2024 presidential election.
“I have said many times that Biden has to choose between Gensler or crypto voters or it could cost him the White House,” Cuban stated on the social media platform X on Saturday. He further commented, “As far as who will be appointed, I wouldn’t take anything as a given.”
Cuban has previously criticized Gensler, stating that the SEC has failed to protect investors from fraud while simultaneously making it “nearly impossible” for cryptocurrency firms to operate. “Crypto voters will be heard this election,” Cuban asserted on May 10.