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US Elections: ‘Crypto Voters will be Heard’ in 2024, Mark Cuban warns SEC

By:
Ibrahim Ajibade
Published: May 12, 2024, 13:53 GMT+00:00

Key Points:

  • Mark Cuban, a prominent American Billionaire and Entrepreneur has said that how Crypto regulation polices will impact voters significantly in the 2024 presidential elections.
  • The Dallas Maverick owner, Cuban, also noted that “crypto is a mainstay with younger and independent voters.”
US Elections Crypto Market

Billionaire Mark Cuban responded to former 2024 Republican presidential candidate Donald Trump’s courting of crypto in a Friday social media post, claiming that crypto will play a large role in the 2024 election.

“If Joe Biden loses, there is a good chance you will be able to thank Gary Gensler and the SEC,” Cuban wrote on the social media platform X. “Crypto is a mainstay with younger and independent voters.”

Mark Cuban Slams SEC's Gensler Ahead of US Elections 2024
Mark Cuban Slams SEC’s Gensler Ahead of US Elections 2024

Cuban added that the Securities and Commission Chair Gary Gensler failed to properly protect investors against fraud, saying, “All he has done is make it nearly impossible for legitimate crypto companies to operate, killing who knows how many businesses and ruining who knows how many entrepreneurs.”

“This is also a warning to Congress,” Cuban continued. “Crypto voters will be heard this election. You could solve this problem for Biden by passing legislation that defines registration that is specific to the crypto industry just as other industries have registration that is defined for them. Or you could do the better option and assign all crypto to be regulated by the CFTC.”

Mark Cuban is an American entrepreneur and owner of the National Basketball Association league Dallas Mavericks.

Crypto in the Upcoming US Election 2024

A January 2024 poll found that 51% of crypto voters would select Trump as U.S. president, with 41% opting for Biden. However, 46% said they would vote for Democrats in the Senate and House, while 42% would choose Republicans in Congress. Nine percent of these voters were undecided.

Trump said that he would accept cryptocurrency donations for his presidential campaign. Additionally, memecoins inspired by Trump and current US president Joe Biden rallied 44% and 22%, respectively, on May 9, The Block previously reported.

Gensler has held the view that cryptocurrencies are a risky and volatile asset, stating in March that the “crypto markets could use a little disinfectant.”

About the Author

Ibrahim Ajibade Ademolawa is a seasoned research analyst with a background in Commercial Banking and Web3 startups, specializing in DeFi and TradFi analysis. He holds a B.A. in Economics and is pursuing an MSc in Blockchain.

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