SEC Chair Gary Gensler Pulls Off Resignation Prank On X, Drawing Mixed Reactions From Crypto Community

In an unexpected twist on social media, Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC), set off a flurry of speculation with a post 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 post began with Gensler expressing his honor in serving as SEC Chair and commending the staff for their dedication to investors and issuers.

He continued to outline 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, only to be surprised when Gensler concluded with, “And we’re not done,” CoinTelegraph reported on Thursday.

The crypto community’s response to Gensler’s posts was polarized. Crypto trader Jordan Fish lauded the thread as “legendary and respectable trolling,” while Bloomberg’s Elliott Stein pointed out the misleading nature of the post. Scott Johnsson from Van Buren Capital criticized Gensler’s focus on enforcement actions, likening it to the Department of Justice celebrating the number of incarcerations.

See Also: Dogecoin, Shiba Inu, Dogwifhat Among Top Picks For This Researcher’s ‘Meme Coin Supercycle’ Thesis

During Gensler’s tenure, the SEC has ramped up enforcement against crypto firms, reaching a 10-year peak in 2023. This aggressive stance has drawn fire from both industry leaders and some members of Congress, who have labeled it “regulation by enforcement.”

Despite the initial confusion caused by the post, Gensler remains at the helm of the SEC, with the possibility of serving until Apr. 17, 2026, barring a change in presidential administration.

Why It Matters: Gensler’s leadership at the SEC has been marked by a firm regulatory approach, especially toward the cryptocurrency market. In February, Gensler expressed skepticism about the decentralization of Bitcoin, referring to it as “just an accounting ledger” during a CNBC interview. He raised concerns about investor protection and the potential for illicit activities within the crypto space.

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

Read Next: Elon Musk Teases Dogecoin Tweet But DOGE Fails To Rally From 20% Weekly Correction

Photo: Created with an image from Shutterstock