The news of Gary Gensler’s resignation first appeared on a recent website called CryptoAlert. The author of the article refers to a high-ranking SEC official who said Gensler was leaving the agency after an internal investigation into alleged misconduct. As stated in the article, the details of the investigation remain confidential.
Despite the fact that the news was based on anonymous reports and not officially confirmed, the rumors were enough to cause a stir in the cryptocurrency community. Many crypto-enthusiasts and traders began to spread this information. For example, a tweet by a user with the pseudonym whalechart about Gensler’s dismissal received more than 1.6 million hits. Later it turned out that the text of the article that started it all had been compiled by artificial intelligence.
On Monday, July 3, FOX Business senior correspondent Charles Gasparino denied the information. He wrote that the likelihood of the SEC chairman’s resignation is nil, and the community is just trying to take wishful thinking for granted.
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“I have tried to contact the SEC for comment on the rumors of Gensler’s resignation. When I asked them about it in an email, the SEC communications specialist said, “I’m sorry, what?” When I repeated the question, there was no response,” Gasparino wrote on Twitter.
The SEC chairman has recently been heavily criticized for his enforcement actions against cryptocurrency companies and trading venues. In June, U.S. congressmen drafted an updated bill proposing to remove Gensler as chairman of the SEC in order to protect the crypto market from “tyranny”. A few days ago, the Blockchain Association presented a report on Gensler’s actions, which may prove that the regulator is biased against the crypto industry.