Source: Harris's major donors demand replacement of SEC and FTC chairmen after victory

BlockBeats news, September 9, Bloomberg reported that major Democratic donors on Wall Street are stepping up efforts to ask US Vice President Kamala Harris' team to replace Federal Trade Commission (FTC) Chairman Lina Khan and Securities and Exchange Commission (SEC) Chairman Gary Gensler after winning the November election.

According to people familiar with the matter, in calls with Harris' team and fundraising activities, these wealthy donors repeatedly named Khan and accused him of hindering the development of the technology industry and other economic fields. Since IAC Chairman Barry Diller and LinkedIn co-founder Reid Hoffman publicly called for Khan's removal in July, private replacement discussions have become more intense.

At the same time, some people familiar with the matter said that donors from both parties are also dissatisfied with Gensler, believing that he is arrogant towards Wall Street. Billionaire Mark Cuban told CNBC this week that he had asked the vice president's team to consider him as SEC chairman.

While donors may continue to lobby privately, they are unlikely to stop giving money because of Khan's departure. Harris has not made clear to donors about Khan's position. FTC spokesman Douglas Farrar declined to comment, while an SEC spokesman said its projects are improving the efficiency, transparency and resilience of the U.S. capital markets.