In a recent series of posts on X, Elon Musk and notable cryptocurrency advocates have voiced their criticism against Vice President Kamala Harris. The industry is calling for significant changes in her administration, including the dismissal of SEC Chair Gary Gensler. This comes amid heightened political activity following President Biden’s resignation as the Democratic nominee.
Elon Musk & RFK Jr. Criticize VP Kamala Harris
Elon Musk, CEO of Tesla and a key figure in the crypto industry, questioned the legitimacy of Harris’s ascension. He wrote, “About 3 weeks ago, the media told you that Biden was ‘sharp as a tack.’ 2 days ago, the poor guy was basically forced at gunpoint to resign as Dem nominee. His staff weren’t even informed. Now they say Kamala is the best thing ever.”
Moreover, Musk’s skepticism extended to the process of selecting the nominee. He added, “Shouldn’t the nominee be decided by a party vote? Democracy etc …” This exchange was excarberated by a spotlight on Robert F. Kennedy Jr.’s recent press conference.
In the press conference, the pro-Bitcoin presidential candidate labeled Harris a “corporate hawk.” Kennedy criticized Harris’s stance on key issues. He stated, “Kamala Harris is the party of war. She’s a war hawk on Ukraine. She’s a war hawk on China. I think we should be figuring out ways to coexist with the rest of the world as best we can.”
Additionally, he also questioned her record on civil rights and economic issues, citing her controversial decisions during her tenure as California’s attorney general. Elon Musk echoed the sentiment and dubbed Harris “just another corpo puppet.” However, Solana co-founder Anatoly Yakovenko defended the current political structure in response to Musk’s comments.
Yakovenko argued, “VPs job is to step into the president’s shoes at any moment. People voted for the Biden/Harris ticket, Biden chose to step down, Harris stepped up. Direct democracy has a ton of corner cases and is fragile. That’s why we have representative democracy instead.”
Moreover, he emphasized the role of delegates in the Democratic Party’s process. Yakovenko stated, “Biden released his delegates, they re-pledged to Harris, consistent with the voters’ wishes who voted for the Biden/Harris ticket.”
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Calls To Fire Gary Gensler
The crypto community’s demands for Harris to distance herself from the current administration’s policies were echoed by several industry leaders. Bitcoin Conference CEO David Bailey announced talks with Harris’s campaign for her to speak at an upcoming conference. He suggested that it would be a strategic move for her to engage with the growing voter bloc interested in cryptocurrency.
However, Tyler Winklevoss was skeptical, stating, “Talk is cheap. She would need to start by immediately firing Gary Gensler, withdrawing all SEC enforcement actions against good actors, and ending Operation Choknt 2.0.”
Justin Slaughter, Paradigm Policy Director, also weighed in, suggesting that Harris has a significant opportunity to reset her relationship with several industries. “The bar for a reset by VP Harris with several industries is really quite low, even subterranean: Innovation is good. I’ll be making staffing changes at many key agencies to bring in new blood (e.g., finreg). Business has an open door to my administration, as do all stakeholders,” he wrote.
Former Coinbase executive Balaji Srinivasan was more direct in his demands, calling for immediate action against Gensler. “She’s essentially the acting President as Biden is a lame duck. So as concrete actions she should immediately fire Gensler, end the Biden assault on AI, and repudiate the unrealized capital gains tax.” He warned against mere gestures, insisting on substantial changes. “Gestures don’t matter at all. Until Gensler is fired and the AI ban is repealed, it’s not real.”
Also Read: Bitcoin ETFs End Inflow Streak Amid High Odds Of Kamala Harris At Bitcoin Conference
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Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.
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