10x Research Predicts Gary Gensler Will Resign in 2025 Following Biden’s Departure

Markus Thielen, founder of 10X Research, predicts that Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), is likely to resign within the first two months of 2025. This anticipated departure follows the end of President Joe Biden's term.

Thielen notes that SEC Chairs typically resign when a new administration takes office. He believes that if Donald Trump wins the presidential election, it would significantly impact Gensler's position. The sudden withdrawal of Biden from the presidential race has led Thielen to foresee Trump's likely victory in November.

Some industry commentators agree with Thielen's assessment, suggesting that the election outcome appears to favour Trump, who might bring a pro-crypto administration. However, opinions on this are varied.

Criticism of Gensler

J.D. Vance, Trump’s running mate, has previously criticised Gensler, labelling him as the “worst person” for regulating crypto assets due to his perceived outdated and politicised approach to crypto policy.

Crypto Market Outlook

Thielen has also highlighted bullish indicators for the crypto market, mentioning that "multiple reports and rumours" suggest Trump might make a significant announcement at the upcoming Bitcoin conference in Tennessee on July 25. There is speculation that Trump could designate Bitcoin as a strategic reserve asset, which could potentially drive Bitcoin’s price higher.

Thielen advises against taking profits or shorting Bitcoin before Trump’s speech, suggesting that Bitcoin’s previous all-time high of $68,300 may become a new baseline. He anticipates a significant upward movement in Bitcoin’s price in the coming months.

Historically Bitcoin has traded higher after breaking previous bull market all-time highs. Source: 10X Research

Analysts' View

Despite current political uncertainties and past disruptions, such as forced selling from the German government and the collapse of Mt. Gox, analysts remain optimistic about Bitcoin and the broader crypto market. They believe the worst is over and that positive trends are emerging.

While Thielen's predictions present a potentially optimistic outlook for Bitcoin, it is crucial for investors to remain cautious and consider multiple perspectives, given the inherent uncertainties in both political and market developments.