SEC Chairman Gary Gensler Pulls Off Resignation Prank on X, Sparking Mixed Reactions From Crypto Community

In an unexpected twist on social media, Gary Genslerthe president of United States Securities and Exchange Commission (SEC), sparked a wave of speculation with a message that many interpreted as a prelude to his resignation.

What happened: Gensler took to X, formerly Twitter, with a message that seemed to hint at an upcoming resignation. The message began with Gensler expressing his honor as SEC Chairman and praising the staff for their dedication to investors and issuers.

He continued to highlight the SEC’s accomplishments under his leadership, including “more than 2,000 enforcement actions” and the completion of various regulatory rules. The tone of the message led many to anticipate a resignation announcement, but to be surprised when Gensler concluded with “And we’re not done,” CoinTelegraph reported THURSDAY.

The crypto community’s response to Gensler’s posts has been polarized. Cryptocurrency trader Fish from Jordan praised the thread as “legendary and respectable trolling,” while Bloomberg Elliott Stein highlighted the misleading nature of the message. Scott Johnson Since Van Buren CaptainI criticized Gensler’s emphasis on enforcement, comparing it to the Justice Department celebrating incarceration numbers.

See also: Dogecoin, Shiba Inu and Dogwifhat among top choices for this researcher’s ‘Meme Coin Supercycle’ thesis

During Gensler’s tenure, the SEC has intensified enforcement actions against crypto companies, reaching a 10-year high in 2023. This aggressive stance has drawn criticism from industry leaders and some members of Congress, who called it “regulation by application”.

Despite the initial confusion caused by the position, Gensler remains as head of the SEC, with the option to serve until April 17, 2026, barring a change in the presidential administration.

Why it matters: Gensler’s leadership at the SEC was marked by a strong regulatory approach, particularly toward the cryptocurrency market. In February, Gensler expressed skepticism about decentralization of Bitcoin, calling it “just an accounting ledger” during an interview with CNBC. He raised concerns about investor protection and the potential for illicit activity in the crypto space.

Further underscoring the SEC’s focus on strict regulatory compliance, the agency has banned the use of third-party messaging apps such as WhatsApp And Signal on the professional telephones of its employees. This policy change came after security breach involving an SEC social media account and follows the imposition of hefty fines on financial companies for failing to keep adequate records of work-related communications.

Read next: Elon Musk teases Dogecoin tweet but DOGE fails to move on from 20% weekly correction

Photo: Created with an image from Shutterstock