TechFlow news, according to Bloomberg on September 7: Major Democratic donors on Wall Street are intensifying efforts urging Vice President Kamala Harris's team to replace Federal Trade Commission (FTC) Chair Lina Khan and Securities and Exchange Commission (SEC) Chair Gary Gensler if she wins the November election.
According to sources familiar with the matter, wealthy donors have repeatedly named Khan during calls and fundraising events with the Harris team, blaming her for hindering development in the tech industry and other sectors of the economy. Private discussions about replacing her have grown more intense since IAC Chairman Barry Diller and LinkedIn co-founder Reid Hoffman publicly called for her removal in July.
Meanwhile, some sources said donors from both parties are also dissatisfied with Gensler, criticizing his perceived arrogance toward Wall Street. Billionaire Mark Cuban told CNBC this week he has asked the vice president’s team to consider him as SEC chair.
Although donors may continue private lobbying, they are unlikely to stop contributing over Khan’s position. The Harris campaign has not given donors a clear stance on Khan. FTC spokesperson Douglas Farrar declined to comment, while an SEC spokesperson said its initiatives are improving efficiency, transparency, and resilience in U.S. capital markets.
