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US SEC Confirms, Gary Gensler Isn’t Resigning, Ends Rumors


There have been many fake rumors spreading within the crypto community that SEC Chair Gary Gensler will be resigning from the commission.

It seems that artificial intelligence is playing a serious part in this state of events.

On July 1there was a news release from a website called “” which claimed that Gary Gensler, SEC Chair has handed in his resignation after an internal investigation referencing an anonymous official.

READ ALSO:UK Law Commission Contemplates Amendments to Crypto Assets Property L

But the article text rate scores high showing a 3rd party AI-detector ZeroGPT which scores around 98.8%. This shows that there is a higher rate of Artificial Intelligence text generation.

More Details of the Story

The United States SEC PR (Public Relations) team has quelled the claims of the supposed Gensler’s resignation.

This ended the spreading of rumors and speculations which have attracted so much attention recently.

SEC refuted the speculations through an email after Eleanor Terrett, a popular Fox Business journalist contacted the commission’s internal team for the confirmation of the alleged resignation.

Eleanor Terrett posted a screenshot of the response to the email which she got from the PR team of SEC.

The contents of the email just say “NOPE” which shows that there isn’t any truth to the speculations of Gensler resigning from his office.

How Is the Crypto Community Handling the Situation?

Very much aware of the spreading speculations, John Deaton, a prop-XRP lawyer prudently communicated his doubts on Twitter.

He revealed his unwillingness to accept the news until he got confirmation from a credible source.

In addition, another decentralized enthusiast followed the example of Deaton.

He questioned the credibility of the rumors since it was only one website that posted the alleged resignation news of the SEC Chair.

Moreover, he linked the spreading of the news to AI-created texts, emphasizing the need for legitimate proof before accepting the claims.

Gary Gensler is an expert in public policy as well as academia. Previously, he was a former chairman of the CFTC (Commodities Futures Trading Commission).

He has given attention to the growing cryptocurrency market while in office at the SEC.

Significantly, he is behind the legal action against Ripple Labs and the ongoing legal battle of SEC versus Binance and Coinbase.

That said, it is a bit impractical to assume that the rumors of his resignation are true. So the XRP community takes such news with a bit grain of salt.













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