SEC Chairman Gary Gensler has announced that he will be stepping down from his role of horrors on January 20th, 2025, which is the same day President-elect Donald Trump will be taking back the White House. He said:
“The SEC is a remarkable agency. The staff the Commission are deeply mission-driven, focused on protecting investors, facilitating capital formation, ensuring that the markets work for investors issuers alike. The staff comprises true public servants.”
Crypto markets are already reacting positively to the news as Gary has been the industry’s public enemy number one. The pro-crypto Trump had already promised to kick him out on Day One, so this is Gary taking the hint and choosing to exit with the tiny bit of dignity he has left.
This man has been a nightmare to crypto markets and companies alike for reasons no one understands, and the entire community is currently rejoicing at his expense.
The tragic aspect is this hostility towards the crypto industry did a huge stain to what would have otherwise been an outstanding career legacy for Gary.
A highly-educated, focused man like himself could have used a bit more positivity on his WikiPedia page. Instead, he’s going to forever be known as the man who failed to hack it at the SEC and practically got kicked out of it.
Gary’s most infamous hostile crypto persecution is the long case he is still dragging on with XRP creator Ripple Labs over the token being what he believes “a security.”
He thinks all cryptos are securities actually, except for Bitcoin. So you can’t blame us if we say; Good bye, Gary. And good riddance! Wishing him all the very best in his future professional endeavors, hopefully far away from lawmaking.
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