Gary

United States Securities and Exchange Commission (SEC) Chair <a href="https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/gary-gensler">Gary Gensler</a> 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 <a href="https://cointelegraph.com/news/sec-lp-dealer-rules-challenged-court"></a><a href="https://cointelegraph.com/news/sec-lp-dealer-rules-challenged-court">rules that the SEC has finalized</a> under his stewardship, which appeared to be teeing up a resignation announcement.
“And we’re not done,” Gensler added, delivering the final punchline.&nbsp;
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 Source: <a href="https://twitter.com/GaryGensler/status/1780685466007966179" target="_blank" rel="noopener nofollow">Gary Gensler</a>
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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 <a href="https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/cobie">Cobie</a>.
“This really does feel like a resignation tweet at first, but then it’s clearly not,” <a href="https://twitter.com/NYCStein/status/1780696368991920146" target="_blank" rel="noopener nofollow">wrote</a> Bloomberg Litigation Analyst Elliott Stein. “Gotta think that was intentional, given Gensler’s seeming penchant for trolling.”
Van Buren Capital general partner Scott Johnsson <a href="https://twitter.com/SGJohnsson/status/1780686311743004881" target="_blank" rel="noopener nofollow">highlighted</a> 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 <a href="https://cointelegraph.com/news/sec-enforcement-actions-gary-gensler">reached a 10-year high</a> under Gensler’s leadership, which brought 46 enforcement actions against crypto firms, doubling from 2021.
U.S. crypto industry executives and some lawmakers <a href="https://cointelegraph.com/news/crypto-firms-reacting-us-regulators-enforcement-actions"></a><a href="https://cointelegraph.com/news/crypto-firms-reacting-us-regulators-enforcement-actions">have claimed Gensler takes a</a> “regulation by enforcement” approach to crypto, as the <a href="https://cointelegraph.com/news/sec-labels-61-cryptocurrencies-securities-after-binance-suit">SEC&nbsp;argues dozens of cryptocurrencies are securities</a> in lawsuits against crypto companies.
Gensler, meanwhile, has claimed crypto is <a href="https://cointelegraph.com/news/gensler-suggests-staking-token-operators-should-seek-to-come-into-compliance">full of fraud and manipulation</a> and has said&nbsp;companies should “come into compliance.”
The <a href="https://cointelegraph.com/news/elon-musk-charge-new-x-users-post-war-against-crypto-spam-bots">crypto side of X</a> got back at Gensler for his post — in its own way.
Related: <a href="https://cointelegraph.com/news/sec-gary-gensler-false-spot-bitcoin-etf-tweet">Gary Gensler responds to US lawmakers over SEC’s false spot Bitcoin ETF tweet</a>
Unofficial <a href="https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/elon-musk-and-crypto-twitter#:~:text=While%20Twitter%20was%20initially%20primarily,directly%20impact%20the%20crypto%20ecosystem.">Crypto Twitter</a> archivist “inversebrah” <a href="https://twitter.com/inversebrah/status/1780721400741073292" target="_blank" rel="noopener nofollow">noted</a> 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. 
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 <img src="https://s3.cointelegraph.com/uploads/2024-04/2e52b72b-47f7-4936-92dd-56393538c47e.png" alt="" title="">
 <figcaption style="text-align: center;">
 Some of the reply posts to Gensler’s thread with a greater number of likes. Source: X
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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 <a href="https://cointelegraph.com/news/neither-joe-biden-nor-donald-trump-are-crypto-champions">possible rematch between Biden and former president Donald</a> Trump.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-regulation-sec-chair-gary-gensler-final-say/">Crypto regulation — Does SEC Chair Gary Gensler have the final say?</a>

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

Cointelegraph

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