Regarding the report by Washington Reporter, a Washington political media outlet, that "if Harris is elected, she may nominate Gary Gensler as Treasury Secretary," Bloomberg ETF analyst Eric Balchunas commented that although Gensler did work for the Treasury Secretary in Clinton's cabinet, he still believes that this is a completely fabricated rumor.
Balchunas also mentioned that the source of this rumor may be Republican Congressman Tom Emmer: "If you are a Republican and want to help consolidate votes from the cryptocurrency community, it is hard to think of anything more terrible than Gensler gaining more power. Even if this is not true, it is very lethal."