Gary Gensler is (let’s simply say it) universally disliked in crypto for the SEC’s frequent aggressive “enforcement actions” and for his unwillingness to be clear about what’s and what isn’t legally permissible in terms of digital belongings.
However is the story true? Let’s check out the proof, and the way this “story” could have come about.
It could be true that “a number of senior Senate staffers” consider Gensler might be Treasury Secretary in a Harris administration. Gensler is lengthy believed to have coveted that job and he would definitely be well-qualified: he labored on Wall Avenue (Goldman Sachs), he’s led each of the nation’s main markets regulators (the SEC and Commodity Futures Buying and selling Fee), and he was a professor at MIT. He’s a well-rounded, skilled financial public servant; why wouldn’t he be thought-about as a Treasury Secretary candidate? Placing apart that Harris must win the presidency, a Senate majority and persuade each Democratic and Republican Senators to help his nomination … it’s actually potential Gensler may get the job subsequent yr, although, in line with most specialists, that’s unlikely.
However the story is full of crimson flags that any respectable editor would instantly mark up with crimson ink. For instance: “These rumors corroborate what high Republicans have additionally advised the Reporter on the report.” Rumors don’t corroborate something. And there’s nothing near a quote from somebody near the Harris camp; the “possible” within the headline all comes from these Senate staffers.