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