According to CoinDesk analysis, given that the Republicans flipped several seats in Tuesday's presidential election and regained control of the Senate, it is very feasible for Trump to fulfill his promise to "fire the current SEC chairman" because his proposal can be easily passed in the Senate vote and the new chairman may take office within a few months. In addition, after learning about Trump's plans for him, Gensler may also choose to resign before the new president takes office in January. If this happens, President Biden will appoint an interim chairman from the remaining Democratic commissioners until Trump takes office, and then Trump will appoint an interim chairman after taking office.