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Gary-kiri 👋
U.S. Securities and Exchange Commission chief Gary Gensler has fallen on his sword, after incoming president Donald Trump promised to fire him "on day one."
Stephen Graves
November 22, 2024
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📝 What you need to know
Gary Gensler is no more. The U.S. Securities and Exchange Commission chief (and bête noire of the crypto industry) announced his resignation Thursday, with his term set to end on January 20, 2025—just as Donald Trump begins his second term as U.S. President. Trump had promised to fire Gensler “on day one” of his administration, though technically he lacked the authority to do so.
The crypto community handled the news with all the grace and dignity you’d expect, with House Majority Whip Tom Emmer (R-MN)’s “good riddance” among the more polite responses. Under Gensler, the SEC had garnered a reputation for pursuing enforcement actions against many crypto firms including Coinbase and Uniswap Labs.
💬 Quote of the Day
“Good riddance.”
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