Mark Cuban: Cryptocurrency will play a big role in the 2024 presidential election
Billionaire Mark Cuban responded to former 2024 Republican presidential candidate Donald Trump’s courting of cryptocurrencies in a social media post on Friday, asserting that cryptocurrencies will play a big role in the 2024 election.
“If Joe Biden If they lose, they’ll likely have Gary Gensler and the SEC to thank.” Cuban wrote On social media platform “Cryptocurrency is mainstream among young, independent voters.”
Cuban added that Securities Commission Chairman Gary Gensler failed to adequately protect investors from fraud.“What he has done is make it nearly impossible for legitimate cryptocurrency companies to operate, killing many businesses and ruining who knows how many entrepreneurs.”
“This is also a warning to Congress,” the Cuban continued. “This election we need to hear from crypto voters. We can fix this for Biden by passing legislation that defines a registration specific to the cryptocurrency industry, just like there are registrations defined for other industries. Or a better option. All cryptocurrencies are regulated by the CFTC.”
Mark Cuban is an American entrepreneur and owner of the National Basketball Association league Dallas Mavericks.
Cryptocurrency in Elections
A January 2024 poll found that 51% of cryptocurrency voters would choose Trump as President of the United States, while 41% would choose Biden. However, 46% said they would vote Democratic in the House and Senate, and 42% said they would vote Republican in Congress. 9% of these voters were undecided.
Trump said he would accept cryptocurrency donations for his presidential campaign. Additionally, as The Block previously reported, memecoins inspired by Trump and current U.S. President Joe Biden rose 44% and 22%, respectively, on May 9.
Gensler has maintained his view that cryptocurrencies are risky and volatile assets, saying in March that “the cryptocurrency market could use a little disinfectant.”
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