The Gary Gensler investigation is intensifying
US politicians have been investigating the abuses of Gary Gensler, the chairman of the SEC, for several months. After proposing his release, they made a discovery that did not go unnoticed.
Jim Jordan, Patrick McHenry, and James Comern, three members of the United States House of Representatives, published an eloquent open letter on the subject. According to them, Gary Gensler only hired members of his political camp within the SEC.
🚨NEW: @SECGov Chairman @GaryGensler is being investigated by top Republican lawmakers @Jim_Jordan, @PatrickMcHenry and @JamesComer for engaging in suspected political favoritism in its recruitment practices.
Full letter: pic.twitter.com/1IzKrmb497
— Eleanor Terrett (@EleanorTerrett) September 12, 2024
More specifically, this is how Haoxiang Zhu, director of the business activities and markets division, would be hired in 2021. Emails between the SEC president and the SEC president showed that political views were a criterion of influence in the recruitment of members. organization.
However, such conduct violates the Civil Service Reform Act of 1978which prohibits the employment or discrimination of individuals based on their political affiliation. Members of the US Congress will therefore open a new investigation into Gary Gensler and take necessary action if necessary.
Despite this, cryptocurrency remains enemy number 1
Gary Gensler seems to be having trouble with impeachment seemingly on the way, but despite that, he continues to attack cryptocurrencies by any means possible.. Earlier this week, it was revealed that the SEC has collected $5 billion in fines from the industry since the start of 2024. That’s four times more than before!
I’m glad someone is making record amounts from crypto.
It would be better if they weren’t SEC settlements, but let them get the bread 🤷♂️ pic.twitter.com/rnNYpeQrFJ
— Nothing (@nicrypto) September 10, 2024
But that’s not all! Now, even platforms that do not specialize in cryptocurrencies are under attack. Trading app eToro is now ordered to remove all tokens except Bitcoin, Bitcoin Cash and Ethereum.
To go further: Ethereum (ETH) forecast 2024/2025/2030
As for the industry’s exchanges, they continue to fight the regulator. Kraken is filing a lawsuit with the SEC to settle their disputes once and for all, while Coinbase is stepping up to ensure that altcoins are finally considered commodities.
Moral of the story: for once, justice against Gary Gensler is no longer the right of the weakest.
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