Tron founder Justin Sun took X to congratulate the newly elected 47th President of the United States, Donald Trump. The victory of the pro-industry Republican candidate has fueled speculation about the new era of the industry, including future anti-crypto regulators such as Securities and Exchange Commission (SEC) Chairman Gary Gensler.
Will Justin Sun hire Gary Gensler?
The US election was one of the most anticipated political events of the year as its outcome was expected to impact the development of the crypto industry in the country. The candidates’ stance on digital assets became an increasingly decisive factor throughout the multi-million dollar campaign donated in digital assets for both parties.
The pro-industry candidate’s victory sent the market up nearly 7% over the past 24 hours, sending Bitcoin (BTC), the largest cryptocurrency by market cap, to its latest all-time high (ATH) of $75,358.
Justin Sun joined several other industry figures respond until Donald Trump’s victory in the November 5 election. The founder of Tron congratulated the Republican politician with X, hoping for a friendly approach that will help develop and improve the industry in the future:
Congratulations to President Trump for becoming the new US President! We hope for crypto-friendly policies that promote industry growth. These changes can make America even greater. I look forward to success in the crypto space under this leadership!
He also asked what would happen to SEC Chairman Gary Gensler now that Trump was elected president. It is worth noting that the newly elected president promised to fire Gensler on his first day in office.
The SEC’s chair is widely known in the community for leading the regulator’s crackdown on the sector and its “regulation by enforcement” approach, which has been heavily criticized over the years.
Sun jokingly claimed that the community should have an “inclusive heart” and offered to hire Gensler “if he can really treat the industry with sincerity.” A community member suggested to Sun that he “hire him without any power or jurisdiction over anything, and just let him watch from the sidelines, like he did with us.”
Sun offers to hire Gary Gensler. Source: Justin Sun on X
Crypto Voters Speak ‘Loud and Clear’
So does Coinbase’s Chief Legal Officer (CLO) Paul Grewal addressed the US regulatory agency after Trump’s victory. Grewal hopes the SEC will understand that the outcome of the election implies that “on many issues,” including crypto, “voters have said loud and clear that they want change.”
The CLO urged the SEC to stop suing crypto companies and instead start talking to the industry, claiming there is no reason to wait to initiate better regulation. Similarly, Coinbase Chief Executive Officer (CEO) Brian Armstrong said marked victory of crypto voters.
Live election results. Source: Stand With Crypto
Armstrong welcomed the new members of “America’s most pro-crypto congress ever.” And repeat that over 260 pro-industry candidates will represent the industry between the U.S. House of Representatives and the Senate.
Tonight, the crypto voter spoke decisively – across party lines and in key races across the country. Americans care disproportionately about crypto and want clear rules of the road for digital assets. We look forward to working with the new Congress to make this happen.
Ripple CEO Brad Garlinghouse too expressed his excitement about the industry-friendly conference, highlighting the victories of industry champions like Senator Bernie Moreno and Congressmen Ritchie Torres and Andy Barr.
Total crypto market capitalization is at $2.41 trillion in the three-day chart. Source: TOTAL on TradingView
Featured image from Unsplash.com, chart from TradingView.com