Gensler Resigns: Sorry what?

In a swift response to recent speculation, the U.S. Securities and Exchange Commission (SEC) emphatically refuted rumors suggesting that Chairman Gary Gensler had resigned from his influential position. This news comes following a tweet shared by esteemed Fox Business journalist Eleanor Terrett on July 3.

Fox's senior correspondent, Charles Gasparino, who also independently reached out to the SEC for verification via email got the response “Sorry what”, further solidifying SEC’s dismissal of the fake story.

The unfounded claims originated from an article published on the news outlet CryptoAlert over the weekend, and further spread by popular bearish Twitter accounts like WhaleChart. Citing anonymous sources, the report alleged that Chair Gensler had stepped down due to an ongoing internal investigation. However, doubts regarding the authenticity of the information arose within the crypto community, as prominent figures like the pro-XRP lawyer John Deaton expressed skepticism. 

The news of Gensler's alleged resignation initially sparked jubilation within the crypto community. Gensler has been known for his critical stance on the crypto industry, actively targeting prominent companies and advocating for stricter regulations. A notable comment came from Messari co-founder Ryan Selkis who suggested that Gensler's departure could be a strategic move by the current administration in the midst of an election year.

As the dust settles, the focus now turns back to the regulatory landscape, leaving room for continued scrutiny and engagement with Gensler's critical stance on the industry.