In a tweet earlier today, entrepreneur Mark Cuban revealed that he had a conversation with the Harris team. During this discussion, they clearly expressed their opposition to “regulation through litigation.” Cuban further commented, “CYA Gensler. You leaving is worth a point in GDP growth.”
Anthony Scaramucci also took to Twitter, urging Gary Gensler to “please resign for the sake of the country (US).” The dissatisfaction with Gensler’s leadership is palpable among several influential figures in the crypto community.
John Deaton Cites Various Instances
Crypto advocate John Deaton, in a recent post, acknowledged the comments made by Cuban and Scaramucci. He admitted that he has been battling against SEC Chair Gary Gensler and the lawyers at the SEC for almost four years. Deaton emphasized, “Let’s not forget, a lifelong Democratic Judge, appointed by Barack Obama, agreed with ME and the 75K holders who joined me when I intervened in the Ripple case against the SEC.” He further noted that Judge Torres cited his amicus brief and referenced his pro bono efforts in her summary judgment decision.
Deaton also highlighted that a federal judge, overseeing discovery in the Ripple Case, issued a ruling stating that the lawyers at the SEC were not only being hypocritical but also “lacked faithful allegiance to the law.”
Deaton Criticizes Senator Warren
Deaton criticized Senior Senator from Massachusetts, Elizabeth Warren, who sits on the Senate committee overseeing the SEC. He emphasized that a direct quote from a federal judge should have prompted Warren to act against an agency that lacked faithful allegiance to the law. Deaton stressed that as a private citizen, he has conducted more oversight of the SEC through litigation and FOIA requests than Senator Warren, all at the expense of his own business.
Political Agendas
Deaton also mentioned the Grayscale case, where an appellate court found that the SEC acted “arbitrarily and capriciously” – a very challenging standard to meet. Instead of upholding the law, Senator Warren encouraged Gensler to ignore the appellate court and deny a spot Bitcoin ETF to further her own political agenda. Deaton argued that Gensler is not the only one lacking faithful allegiance to the law.
Deaton pointed out the Debt Box case, where a federal judge sanctioned the SEC for deliberately lying to the Court and acting as a corrupt, deceitful agency under Gensler’s leadership. He lamented, “What’s truly sad is that Gensler has dishonored the countless number of good people working under him who no doubt want to do the right thing.”
Lastly, Deaton highlighted that when leaders like Scaramucci and Mark Cuban—who are actively advising Kamala Harris and her team—speak out against Gensler and his detrimental impact on America, American entrepreneurs, and consumers, it’s time for elected leaders to take notice.
