Is US SEC Chair Gary Gensler Resigning? Here's The Truth

Also Read: XRP Price Analysis: Will $XRP Price Hit $0.55 Milestone in Coming Week? 

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In the first week of June 2023, the crypto ecosystem suffered one of the largest enforcement actions with back to back lawsuits against crypto exchanges Coinbase and Binance. The top two exchanges were charged with violation of securities laws.

Gary Gensler Resignation?

Based on the initial reaction to the rumor of Gensler’s leaving SEC, it would have been a major crypto rally if the news were true. Crypto influencer Ben Armstrong confirmed that the resignation news just a rumor. He said the SEC Chair may not resign at all if he wishes to leave in near furture, indicating pssibility of Gensler’s new role and capacity outside of the SEC.

“Gensler resigning is almost definitely false. If he ends up leaving soon, it more than likely won’t be a resignation.”

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It may be recalled that Gensler may be inclined to run for the Senate seat in Maryland, in the context of retirement of Senator Ben Cardin in 2024. Hence, it was speculated that Gensler’s roots in Baltimore, Maryland could make him ideal candidate for Senate. John Deaton, the attorney representing XRP holders in the Ripple Vs SEC lawsuit, believes the SEC Chair’s resignation is a big possibility in the coming months, due to political action.

Also Read: Best Crypto Exchange Affiliate Programs In 2023

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