The government exodus is already beginning.
One of the first government officials who has announced that he will be departing is SEC Chair Gary Gensler.
Gensler still had two years on his term, but he announced that he will be resigning his post on the same that day Trump is sworn into office.
Time to Go
Gensler has been no fan to crypto, and Donald Trump has been adamant that he would like to move crypto along.
Elon Musk is a big supporter of crypto, so I would imagine that Trump will be bending his ear for advice on who to appoint as the new SEC chair with this in mind.
Upon announcing his departure, Gensler stated, “The Securities and Exchange Commission is a remarkable agency.
“The staff and the Commission are deeply mission-driven, focused on protecting investors, facilitating capital formation, and ensuring that the markets work for investors and issuers alike.
“The staff comprises true public servants. It has been an honor of a lifetime to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world.”
“I thank President Biden for entrusting me with this incredible responsibility. The SEC has met our mission and enforced the law without fear or favor.”
Trump has been making these appointments at a breakneck speed, so I imagine he will have a name for us on this front very soon.
For the most part, Trump has done a fairly good job of selecting his appointments, so I am guessing that confirmation will not take that long, especially with the GOP holding control of the Senate.
There will still be challenges, however, with Pete Hegseth and Tulsi Gabbard as the top of that list now that Matt Gaetz has dropped out of the AG consideration.
His replacement, Pam Bondi, the former Florida AG, is expected to sail through rather easily.
