Jack Dorsey Says 'Steady Lads,' Dogecoin Co-Creator Posts 'It's Over' After SEC Sues Binance — How Crypto Twitter Reacted

Following the Securities and Exchange Commission’s (SEC) Monday charges against Binance and its founder Changpeng Zhao for alleged securities violations, well-known figures within the cryptocurrency community have taken to Twitter to respond.

What Happened: Former Twitter CEO Jack Dorsey tweeted “Steady lads” in response to Zhao’s tweet which read “Strong together.” 

It turns out that Dorsey’s “Steady lads” tweet was in fact a reference to a famous tweet by Do Kwon, which became a meme in the cryptocurrency community.

Back in May 2022, when UST made headlines for depegging to $0.35 and wiping out billions in market value for investors, Kwon tweeted “Deploying more capital — steady lads” to encourage investors to stay calm. The tweet later became immortalized as a meme.

Meanwhile, Dogecoin DOGE/USD co-founder Billy Markus, popularly known as Shibetoshi Nakamoto on Twitter, shared a meme reading “It’s over Cryptocurrency.”

Justin Sun, the founder of the Tron blockchain platform, added his support to CZ, saying “Please remember that you are never alone, no matter the circumstances or challenges you face. As your friends, we will always be by your side, offering our unwavering support and encouragement. We believe that justice will be served, and we will face this challenge together.”

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Why It Matters: SEC Chair Gary Gensler said that Zhao and Binance entities engaged in “an extensive web of deception, conflicts of interest, lack of disclosure and calculated evasion of the law.” To which, Zhao responded, “Wonder if he ever reads the comments under his post, from the consumers he is [supposed] to protect.

Read Next: Bitcoin, Ethereum, Dogecoin Tumble After SEC Lawsuit: Analyst Says Binance’s Success Is Key To Apex Crypto’s Survival