According to TechFlow, Ripple CEO Brad Garlinghouse said that Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), will cause Joe Biden to lose the presidential election in November. Garlinghouse's comments echoed the views of billionaire Mark Cuban, who also said that cryptocurrency regulation will affect voters in the 2024 presidential election.

Garlinghouse said at the Bloomberg Invest Summit in New York that Gensler’s criticism of the crypto industry is “absolute bullshit” and accused Gensler of oversight of FTX and its absence from the Binance DOJ announcement. Mark Cuban also reiterated at Coinbase’s State of Crypto Summit that Gensler will “literally cause Joe Biden to lose the election.”