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Mark Cuban Reveals Plan to Lead SEC in Case of Harris Election Win, Secures Prominent Backing
- Mark Cuban, critical of Gary Gensler’s SEC leadership, has expressed interest in taking over as head of the agency.
- Cuban has a history of challenging the SEC and has submitted amicus briefs advocating for improvements.
- Crypto advocate John E Deaton supports Cuban for SEC Chair, describing him as a breath of fresh air compared to Gensler.
Ah, Gary Gensler. The chair of the US Securities and Exchange Commission (SEC). Gensler has got to be the most controversial figure in crypto. You almost have to be sorry for the amount of hate he gets.
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Then again, under his leadership the SEC has engaged in numerous lawsuits amid what many call “regulation by enforcement”.
Gensler is so unpopular that when Donald Trump told a crowd at a Bitcoin conference recently that he would fire the SEC chair on day one, he received a lot of applause.
Cuban: Somebody, Please. Replace Gensler
Technically though, while not impossible, it’s quite unlikely that Trump would do such a drastic thing; but then, this is Donal Trump we’re talking about.
But who could be his replacement, if Gensler were to be sacked from the job – or maybe even resign in early 2025, as some have suggested he might.
Well, fear not – Mark Cuban is here to take the top job at the helm of the watchdog. Speaking to Fox Business recently, Cuban was asked if he would take a position as Treasury Secretary if Kamala Harris wins the election, to which he replied, “head of the SEC, that’s the job I would take”.
Cuban explained his choice with Gensler’s apparent incompetence and hostility towards crypto and other industries.
Somebody needs to replace Gary Gensler. He’s awful; particularly for crypto.
Mark Cuban Pro-Crypto Lawyer Weighs In, Says Cuban Would be a “Breath of Fresh Air”
It seems well-known lawyer and crypto advocate John E Deaton would support a Cuban term as head of the SEC. He posted on X that Cuban would be a “breath of fresh air and a welcomed change from the lawlessness of Gary Gensler”.
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Deaton pointed to how a decade ago, Cuban faced and overcame aggressive SEC tactics, similar to Brad Garlinghouse and Chris Larsens’ recent experiences.
Since then, he has submitted several amicus briefs advising on SEC improvements. The notion of Cuban or Garlinghouse leading the SEC carries a fitting irony, given their histories with the agency, Deaton added.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
