Coinbase CLO Paul Grewal Blames the SEC for the Democrats' 2024 Election Downfall

Shortly after the end of the United States 2024 election – crypto personalities are starting to weigh in on the results, and also how the new presidency

Crypto Personalities React to 2024 US Election Results, Discuss Potential Impact on Market

Key Takeaways:

Coinbase CLO Paul Grewal suggests SEC’s handling of crypto contributed to Democrats’ loss in 2024 election.

Grewal urges SEC to stop suing crypto companies and engage in broader communication instead.

Crypto industry has long complained about SEC’s lack of transparency.

After winning presidency, Donald Trump announces plans to fire SEC Chair Gary Gensler.

Shortly after the conclusion of the United States 2024 election, crypto personalities are beginning to share their thoughts on the results and how the new presidency could influence the market in the coming years.

Coinbase CLO Paul Grewal had several observations regarding the outcome and the Democrats’ handling of digital assets.

In his latest Tweet, Grewal hinted that the Securities and Exchange Commission could be partially responsible for the Democrats’ poor performance in 2024. In addition to losing the presidency, the Democratic Party also lost control of the Senate, with the final Congress vote count still pending.

Moving forward, the Coinbase CLO pleaded that the SEC should stop suing crypto companies and instead open up a broader communication channel to help digital asset firms better understand the SEC’s expectations.

Both Coinbase and Ripple have repeatedly complained about the SEC’s lack of transparency over the years. This absence of clarity has resulted in an unpredictable landscape for digital asset companies, often leaving them vulnerable to legal action by the SEC.

However, the public can already anticipate significant changes by January when Donald Trump takes office. In one of its first public statements after the victory, the Republican party already announced plans to fire the Securities and Exchange Commission Chair, Gary Gensler.