Fun

Gary Gensler’s resignation ‘troll’ post disappoints Crypto X

News Feed - 2024-04-18 11:04:54

Jesse Coghlan6 hours agoGary Gensler’s resignation ‘troll’ post disappoints Crypto XThe SEC’s Gary Gensler managed to excite, then rudely disappoint crypto fans with a “legendary and respectable troll thread.”2738 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksUnited States Securities and Exchange Commission (SEC) Chair Gary Gensler duped more than a few X users into believing he was resigning from the SEC on Wednesday — before saying he was “not done.”


“It’s been an honor to serve as [SEC] Chair. Over the past 3 years, I’ve seen firsthand how the incredible staff at the SEC serve investors and issuers alike,” Gensler wrote in an April 17 X post.


In following posts, he noted the “more than 2,000 enforcement actions” and rules that the SEC has finalized under his stewardship, which appeared to be teeing up a resignation announcement.


“And we’re not done,” Gensler added, delivering the final punchline. Source:Gary Gensler


The posts went viral and have been viewed over 1.1 million times, according to X figures.


“A legendary and respectable troll thread, honestly [in my opinion],” wrote crypto trader Jordan Fish, who goes by Cobie.


“This really does feel like a resignation tweet at first, but then it’s clearly not,” wrote Bloomberg Litigation Analyst Elliott Stein. “Gotta think that was intentional, given Gensler’s seeming penchant for trolling.”


Van Buren Capital general partner Scott Johnsson highlighted Gensler’s posts “leads with [number] of enforcement actions.”


“Would be like [Department of Justice/Bureau of Prisons] highlighting number of incarcerations. Lack of focus,” he added.


In 2023, the SEC’s crypto-related enforcement actions reached a 10-year high under Gensler’s leadership, which brought 46 enforcement actions against crypto firms, doubling from 2021.


U.S. crypto industry executives and some lawmakers have claimed Gensler takes a “regulation by enforcement” approach to crypto, as the SEC argues dozens of cryptocurrencies are securities in lawsuits against crypto companies.


Gensler, meanwhile, has claimed crypto is full of fraud and manipulation and has said companies should “come into compliance.”


The crypto side of X got back at Gensler for his post — in its own way.


Related:Gary Gensler responds to US lawmakers over SEC’s false spot Bitcoin ETF tweet


Unofficial Crypto Twitter archivist “inversebrah” noted the platform’s crypto community “managed to score a couple of helthy [sic] ratios already.” A ratio is when a reply post garners more engagement — such as likes or shares — than the original post it replied to.


In this case, Gensler’s post received around 1,700 likes, but some responses have racked up more than three times that.Some of the reply posts to Gensler’s thread with a greater number of likes. Source: X


U.S. President Joe Biden nominated Gensler to chair the SEC in 2021. Gensler started his five-year tenure on April 17, 2021, and could serve as chair until April 17, 2026.


It is, however, custom for the SEC chair to resign if the U.S. elects a new president, and Americans are heading to polls on Nov. 5 to vote on a possible rematch between Biden and former president Donald Trump.


Magazine:Crypto regulation — Does SEC Chair Gary Gensler have the final say?# Twitter# SEC# Regulation# Gary GenslerAdd reaction

News Feed

Nigerian crypto community split over govt’s bid for Binance user data
Amaka Nwaokocha13 hours agoNigerian crypto community split over govt’s bid for Binance user dataChukwumaeze Dike, a crypto enthusiast and cybersecurity specialist, said he finds the request for the top 100 users surpri
The ‘Feels Guy’ Gets Blockchained — Rare Wojak NFT Project to Launch 4,000 Randomly Generated Wojaks
The "Feels Guy" Gets Blockchained — Rare Wojak NFT Project to Launch 4,000 Randomly Generated Wojaks While Pepe the frog and Doge made it into the limelight with unique and rare
Bitcoin ‘Banana Zone’ is next if these 3 indicators play out
Ciaran Lyons5 hours agoBitcoin ‘Banana Zone’ is next if these 3 indicators play outBitcoin “Banana Zone” is on the horizon, but it will need to reverse these key metrics first to maintain a “sustainable recover
European Union Presents Project to Fight Counterfeiting by Using NFTs for 2023
European Union Presents Project to Fight Counterfeiting by Using NFTs for 2023 The European Union (EU) is working on a project that involves blockchain architecture and the use of
Indian Crypto Banks and Exchanges See Massive Growth Amid Rising Covid-19 Crisis: Survey
Indian Crypto Banks and Exchanges See Massive Growth Amid Rising Covid-19 Crisis: SurveyThe crypto industry in India is experiencing massive growth, according to a new survey of cry
Helen Partz10 hours agoWhat bear market? These crypto websites see traffic rising in 2023Crypto exchanges HTX (formerly Huobi) and OKX have seen their traffic surging 200% and 185% YTD, respectively.4949 Total views32 To
4 ‘Bitcoin Contenders’ With Zero Use Cases and Barely Any Infrastructure
4 "Bitcoin Contenders" With Zero Use Cases and Barely Any Infrastructure Cryptocurrency markets and the industry are extremely competitive and many users believe a single digital
Technical Analysis: Flow Moves Higher, as SHIB Climbs 12%
Technical Analysis: Flow Moves Higher, as SHIB Climbs 12% Following a 12% decline yesterday, shiba inu (SHIB) rose by that same percentage today, as bulls once again boarded the ro
$25 Million Pledge From Ripple Set To Benefit Teachers And Students Across The US
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Blackrock’s Chief Investment Officer: Cryptocurrency Is Here to Stay, Bitcoin Could Replace Gold
Blackrock"s Chief Investment Officer: Cryptocurrency Is Here to Stay, Bitcoin Could Replace Gold Blackrock’s Chief Investment Officer, Rick Rieder, said cr
Trump's 'Talk of the World' American Steel Industry in a Major Slump; U.S. Steel (X) Plunges 12%
On the campaign trail, President Donald Trump pledged to revive the U.S. steel industry. At different times last year and this year, Trump has claimed that he had managed to do just that through the imposition of tariffs
Worldcoin reaches 10M users, 70M transactions and at least 13 goats bought
Tristan Greene5 hours agoWorldcoin reaches 10M users, 70M transactions and at least 13 goats boughtOpenAI CEO Sam Altman’s identity coin startup Worldcoin’s World App now has more daily users in April than its entire