Gary Gensler Isn’t Resigning, Claims US SEC

Despite alleged rumors spread by AI-generated tools, the United States Securities and Exchanges Commission denies the news of Gary Gensler resigning.

The news trended on Twitter, causing a ruckus among internet users. The news also spread fast among the crypto community because Gary Gensler is perceived as someone who's against the industry.

The United States SEC regulatory clampdown on top exchanges and crypto projects is part of why many people criticize its Chair Gensler.

Fake News?

The United States Securities and Exchanges Commission (SEC) PR team denied purported claims of Chairman Gary Gensler's resignation, ending rumors within the crypto ecosystem.

Over the weekend, a report on the new website, thecryptoalert.com, alleged that Gensler had tendered his resignation from the position, citing various anonymous sources.

A few hours after it was posted on Cryptoalert, various other crypto news channels copied the information, and it began to spread across bearish Twitter feeds like @WhaleChart."

Moreover, journalists communicated with the Securities and Exchange Commission (SEC), revealing fake information.

Also, on July 3, a Fox Business reporter, Eleanor Terrett, responded to crypto lawyer John Deaton, who sought clarification. She noted that her SEC sources refute the claim.

Charles Gasparino, the senior correspondent, also reached out to SEC Governor on the rumored resignation.A few hours later, he tweeted, announcing that the SEC PR denied that Gary Gensler isn't resigning.

Also, the pro-XRP lawyer, John Deaton, commented on the situation carefully, stating his doubts on Twitter. He expressed his reluctance to believe that the rumors were falsified.

Furthermore, a decentralized pundit buttressed Deaton's sentiments. He questioned the originality of the rumors, noting that only one website had announced the alleged resignation of the SEC chairperson.

The enthusiast compared the report to an AI-generated text, pressing for solid evidence before receiving such claims.While many remained doubtful, another enthusiast commented that the entire crypto community should maintain an open mind.

He also recognized the chances that the claims could be true based on past accurate information posted on Twitter.

Gary Gensler's Efforts Against Cryptocurrency

In recent months, Gary Gensler has garnered global criticism from the crypto community due to his enforcement action and attitude against the industry.

Under his tenure as the chairperson of the Securities and Exchanges Commission (SEC), the watchdog had established different legal proceedings against notable crypto entities.

Some of these firms include centralized crypto exchanges like Binance.US and Coinbase for purported unregistered crypto services and for violating other security laws.

Furthermore, Gensler has faced tons of political pressure in the United States with Congress members Warren Davidson and Tom Emmer, who went to the extent of proposing an SEC Stabilization Act.

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