Crypto Hater SEC Chair Gary Gensler Indirectly Confirms His Resignation

Gary Gensler praised the SEC’s role in protecting U.S. investors and indirectly hinted at his upcoming resignation.

Since 2021, Gary Gensler has served as SEC Chairman. Under his leadership, the SEC has aggressively tried to regulate the crypto sector using traditional securities rules and laws. He faced significant criticism from crypto entrepreneurs and pro-crypto U.S. officials for relying on enforcement actions rather than providing clear rules and laws for the crypto sector.

On November 15, 2024, Gensler stated that SEC staff are dedicated and mission-driven, working to protect investors, maintain fair and efficient markets, and support capital formation. Although they could earn more elsewhere, they choose to serve the public at the SEC.

Many experts believe Gensler’s statement is a hint that he is preparing to resign.

Reportedly, 18 U.S. states are planning to sue the SEC over Gensler’s heavy-handed regulatory approach.

On November 14, newly elected U.S. President Donald Trump appointed former SEC Chairman Jay Clayton as Attorney for the Southern District of New York. The Southern District has handled several high-profile crypto cases, including those against former FTX CEO Sam Bankman-Fried.

Bitcoin Greed & Fear Index

Bitcoin’s current trading price is $88,854, up 17% over the past 7 days. The Greed & Fear Index is at 84, indicating that most crypto traders are bullish and not anticipating a potential downturn.

Currently, Bitcoin Greed & Fear indicates a high level of greed among investors, suggesting strong bullish sentiment in the market. This elevated level often reflects heightened optimism, with many traders expecting price increases. However, such high scores can also signal potential risk, as extreme greed may precede a market correction or increased volatility. Investors often use this index as a tool to gauge market sentiment and make more informed decisions.

Read also: 252.2k BTC Holder Saylor Says “The White House, Senate, and Congress Are All Pro-Bitcoin”