In a recent report by The Block, Ripple CEO Brad Garlinghouse expressed that the statements and actions of the Chairman of the U.S. Securities and Exchange Commission, Gary Gensler, could lead to Joe Biden’s defeat in the U.S. presidential election in November. At the Bloomberg Investment Summit on Tuesday in New York, Gensler shared his views on the cryptocurrency industry, stating that there is a significant amount of non-compliant behavior in the sector, hinting that executives in the cryptocurrency industry may face legal sanctions.