According to the Daily Planet, SkyBridge founder Anthony Scaramucci said that the real reason why Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), took a tough stance on encryption was that he was eager to serve as Treasury Secretary during President Joe Biden's second term. Scaramucci further stated that although Gensler publicly opposed cryptocurrencies, he was essentially a believer in cryptocurrencies. He added: "Go to MIT to watch his 24-hour lecture, where Gary Gensler taught a blockchain course, and he doesn't hate cryptocurrencies. But now politics is interfering with the regulatory power of the United States."

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