SEC's Gensler unfazed by talk of his removal under Trump or Harris

SEC Chair Gary Gensler said that talk of removing him post-election is not something he’s worried about, telling a Las Vegas crowd, “I sleep fine.”

The comment came after Hope King, senior business reporter and moderator at Axios, asked Gensler Oct. 28 if he’s afraid that he might lose his job even if Vice President Kamala Harris wins the presidency. King cited reporting from Bloomberg, which says that major Democratic donors are urging Harris’ team to replace Gensler if the vice president wins the election.

“This is a job where every day is about helping investors,” Gensler said, joining virtually at the Money 20/20 USA event in Las Vegas. He added that he’s “very proud” of what the SEC is doing.

Former President Donald Trump pledged to fire Gensler at a speech in July, though SEC chairs typically step down when a new party takes over the presidency. Some wonder whether Gensler might try to stay at the agency in the event of a Trump win, since the chair's term expires in 2026.

Gensler did not comment on what his plans were, but he said, “Traditionally, presidents get to decide who the chairs the SEC. That's a good part of democracy.”

Trump’s call to remove Gensler came during a speech at a bitcoin conference, as many in the crypto industry have criticized Gensler for his approach to regulating the technology.

The SEC has filed enforcement actions against several crypto firms and exchanges — including Coinbase, Kraken, Genesis Global Capital and Gemini Trust Co. — leading many to call it a “regulation by enforcement” approach.

King asked Gensler what was going through his mind when he saw that former president Trump pledged to fire him.

“My daughters found it interesting…and they sent me a few text messages,” Gensler replied. “But other than that, I mean, I thought that's what presidents do to their entire cabinet as well. So, I just thought, ‘that's part of democracy.’”

“We're going to continue to do that which we do well at the SEC until, as I say, the ref calls the whistle,” Gensler added.