Billionaire Mark Cuban Wants to Replace Gary Gensler as SEC Head; XRP Community Reacts

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Mark Cuban has joined the ranks of billionaires criticizing the SEC, following in the footsteps of Elon Musk. Previously, Cuban has been vocal about the SEC’s stance on cryptocurrency, using the hashtag #SaveCryptoFromTheSEC. This time, he has offered actionable advice, urging the SEC to establish clear guidelines for crypto firms to follow. 

In an interview with Fox Business, when asked about potential cabinet positions under Kamala Harris, Cuban mentioned the need for a new head of the SEC, suggesting that current chair Gary Gensler is not effective for the industry. He said, “That’s the job I would take.”

Reacting to the above statement, pro-XRP lawyer John Deaton took to his X handle and wrote, “Even if you disagree with @mcuban on specific issues, objectively speaking, Mark would be a breath of fresh air and a welcomed change from the lawlessness of Gary Gensler.”

He pointed out that a decade ago, Cuban experienced the SEC’s gross overreach firsthand. Like Brad Garlinghouse and Chris Larsen, who recently stood up to the SEC, Cuban also resisted the pressure from SEC prosecutors and ultimately triumphed over the agency. Since 2013, Cuban has actively contributed to the discussion on improving the SEC through several amicus briefs. 

Deaton continued, “How fittingly ironic would it be for a Mark Cuban or a Brad Garlinghouse to be in charge of the agency that unfairly attacked them?”

Mark Cuban Says Kamala Harris Is Not Struggling

Cuban addressed the challenges faced by Harris in closing deals in another interview with CNN, asserting that she isn’t struggling but simply taking her time. He noted that in just 45 to 50 days, she has transformed her favorability ratings from negative to a competitive stance. Cuban believes Donald Trump should be more concerned about his position as Harris’s momentum continues to grow. He praised her recent speech, stating it effectively communicated her pro-business stance and willingness to collaborate with businesses.