Gary Gensler Expected to Resign as SEC Chair in Early 2025
Markus Thielen, founder of 10x Research, predicts that SEC Chair Gary Gensler will likely step down within the first two months of 2025 after President Joe Biden's term ends.
Thielen’s July 21 market report suggests that Gensler’s resignation is tied to the tradition of SEC chairs stepping down when a new administration takes office. He believes Biden’s unexpected withdrawal from the presidential race all but ensures Donald Trump’s victory, which would be unfavorable for Gensler.
Thielen points to Biden’s decision to exit the race as a clear indicator of Trump’s impending presidency, though not all industry experts agree with this assessment. Thielen remarked, “With Biden out, no credible candidate remains to challenge Trump. The November election seems decided without a vote, paving the way for a pro-crypto administration.”
Despite Gensler’s term officially ending on June 5, 2026, Thielen predicts his resignation by early 2025. Trump’s running mate, J.D. Vance, has criticized Gensler’s approach to crypto regulation, calling him unsuitable for the role.
READ MORE: Kamala Harris Emerges as Democratic Front-Runner After Biden’s Exit
Thielen also highlighted several bullish factors for the crypto market, hinting at a potential major announcement by Trump at the upcoming Bitcoin conference in Nashville on July 25. Speculation suggests Trump might declare Bitcoin as a strategic reserve asset, potentially sparking a significant price surge.
He advises investors to avoid taking profits or shorting Bitcoin before Trump’s speech, suggesting that Bitcoin could surpass its previous all-time high of $68,300 following an expected parabolic move.
Despite political uncertainties, analysts maintain an optimistic outlook for Bitcoin and the broader crypto market. They believe the worst of Bitcoin’s recent price volatility, driven by forced sales from the German government and Mt. Gox creditor repayments, is now behind us.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
