The crypto market is surging amid Gary Gensler’s anticipated resignation as SEC Chair by January 2025. Ex-Binance US CEO Brian Brooks is among the top contenders for the role.
The cryptocurrency market has been experiencing significant upward momentum since Donald Trump’s victory, and it has been further bolstered by the anticipated resignation of Gary Gensler, the current chairman of the Securities and Exchange Commission (SEC).
When is Gary Gensler expected to resign as the chairman of the Securities and Exchange Commission?
Gary Gensler, the current Chairman of the Securities and Exchange Commission (SEC), is anticipated to resign voluntarily after Thanksgiving. His departure is anticipated to take place by early January 2025, prior to Donald Trump’s inauguration.
Five potential candidates are presently in the running to become the next chairman of the Securities and Exchange Commission (SEC) before the current chair steps down. Brian Brooks, the former CEO of Binance US, has been identified as a potential candidate to succeed Gensler in the midst of this ongoing competition.
Is Brian Brooks poised to assume the role of SEC Chairman?
Brooks is currently at the top of the list, according to a recent prediction platform. This development on social media is garnering significant attention from crypto enthusiasts worldwide. Hester Peirce and Dan Gallagher are among the pro-crypto figures who may pose a formidable challenge to him, despite his pro-crypto stance.
Nevertheless, Brooks and Gallagher are the top two crypto personalities at present, with 41% and 25% probability, respectively.
A appropriate regulatory outlook in the United States may be the reason Brooks is currently at the top of the list. During his time in office, Trump permitted banks and institutions to experiment with blockchain technology and advocated for crypto regulation. Furthermore, Brooks has experience with Coinbase and Binance.
After reviewing his prior work, the crypto industry anticipates the implementation of additional regulations that will not only protect investors and traders but also enable all individuals to investigate the swiftly changing cryptocurrency landscape.
The cryptocurrency market could experience significant upward momentum as a result of the anticipated regulatory clarity and supportive policies that encourage innovation while protecting investors, if Brooks or other pro-crypto figures such as Peirce or Gallagher are appointed.
