Report That Kamala Harris Will Nominate Gary Gensler For Treasury Secretary Sparks Skepticism

The Washington Reporter said Vice President Kamala Harris is likely to nominate Securities and Exchange Commission (SEC) Chair Gary Gensler for Treasury Secretary if elected, but senior politicians and analysts quickly questioned the reliability of its sources.

The Washington Reporter article cited ”multiple senior Senate staffers,” adding that their comments on Harris’s plan corroborated what top Republicans had also told the publication.

Gary Gensler crafts SEC into a mighty sandcastle | Reuters

But Custodia Bank CEO Caitlin Long quickly dissed the story in an Aug. 19 post on X, saying that multiple Democrats had contacted her and told her the “rumor is false.” 

A Gensler Appointment To ”End Crypto In The US”

Bankless founder Ryan Sean Adams asked the journalist who wrote the report, Matthew Foldi, to share how reliable his sources are.

Adams said that if the rumor is true, it would “basically END crypto in the U.S.,” adding that crypto founders might as well “flee the country now.”

Adams also said the story “is very unlikely to be true.” Regardless, he believes that the potential Gensler re-appointment can not be ruled out until Harris herself confirms she will not nominate the SEC Chair as Treasury Secretary.

The Washington Reporter story said there will be “unified Republican opposition” to Gensler if Harris wins. However, the SEC Chair will likely be able to count on broad Democratic support, it said.

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