Gary Gensler submits his resignation as Chairman of the SEC

Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), submits his resignation and leaves his position as of January 20, 2025. This is the same day that President-elect Donald Trump, who had promised to fire Gensler, will begin his second term. 

Gary Gensler: the President of the SEC and the resignation to leave the agency on January 20, 2025

Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), has submitted his resignation, officially announcing that he will leave his position on January 20, 2025. 

“On January 20, 2025, I will leave the presidency of @SECGov. The SEC is an extraordinary agency. The staff and the Commission are deeply mission-oriented, focused on investor protection, facilitating capital formation, and ensuring that the markets work for both investors and issuers. The staff consists of true public servants.”

Gensler began his term as Chairman of the SEC on April 17, 2021. The end of his term, on January 20, 2025, will also be the same day that the elected President Donald Trump, who had promised to fire Gensler, will begin his second term. 

In this regard, Gensler is indeed leaving room for Trump to choose his SEC Chairman, as he cannot force him to completely leave the agency. 

In another comment, Gensler states: 

“It has been a lifetime honor to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world.”

Gary Gensler and the resignation of the SEC Chairman who waged a “war on crypto”

The resignation of Gensler seems to put the word “end” also to the persecution of the crypto sector by the SEC. 

Just last week, Gensler reiterated his tough stance on cryptocurrency enforcement, stating that he wants to require the approximately 10,000 tokens he considers securities to “register and provide adequate disclosure to the public.”

This is just the latest in a long series. Since 2021, the SEC has taken an aggressive regulatory stance towards cryptocurrencies, initiating about 100 regulatory actions against companies in the sector.

Yet, le crypto sono riuscite a sopravvivere. At the beginning of this month, Keith Gill, known as “Roaring Kitty,” the man behind the meme stock mania with GameStop in 2021, published a tweet about Gensler. Essentially, the SEC Chairman is also at the center of a transparency request made by the US Congress.

Not only that, during the same days, news leaked that as many as 18 States of the USA have accused the SEC and its Chairman Gensler of unjustly persecuting the crypto industry. The 18 Republican attorneys general have indicted the agency and Gensler for unconstitutional abuse of power against crypto companies. 

Bitcoin a un passo dal traguardo dei 100K dollari

As Gensler vacates the position for new crypto-friendly candidates who will be chosen by the crypto-friendly US President, Bitcoin (BTC) soars towards new horizons. 

At the time of writing, BTC is worth $99,195, just a step away from the much-desired milestone of $100,000 by the crypto community. 

Indeed, many are predicting that the price of BTC could soon reach six figures, and looking at the chart, the trend of BTC continues to confirm itself as bullish. 

BTC is in pump by +2% compared to 24 hours ago, +12% compared to a week ago, and 50% compared to a month ago.