Bitcoin’s price may have topped $98,000 Thursday, but Crypto Twitter was set ablaze for an entirely separate reason: Securities and Exchange Commission (SEC) Chair Gary Gensler, regarded as the industry’s chief antagonist, announced his impending resignation.
The figurehead that pursued an aggressive crackdown on the crypto industry signaled that he would resign from his leadership role on January 20, 2025, when Donald Trump takes office for a second term. The disclosure was met with a collective sigh of relief among crypto advocates online, while sparking its fair share of shitposts.
Billionaire entrepreneur Mark Cuban reacted to Gensler’s resignation by posting a link to Leonard Cohen’s “Hallelujah,” a song associated with catharsis and celebration.
One of Gensler’s biggest critics on Capitol Hill took a more direct approach to Gensler’s goodbye: “Good riddance,” House Majority Whip Tom Emmer (R-MN) wrote on Twitter (aka X). It was a statement echoed far and wide across Crypto Twitter in regards to the news.
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Author: André Beganski
