Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), has announced his resignation, effective January 20, 2025. This follows a pledge by the newly elected President, Donald Trump, who stated he would dismiss Gensler as soon as he assumes office.
On January 20, 2025 I will be stepping down as @SECGov Chair.
— Gary Gensler (@GaryGensler) November 21, 2024
A thread 🧵⬇️
“SEC is a great agency. The staff and the Commission are driven by a deep mission focused on protecting investors, facilitating capital formation, and ensuring the functioning of markets for both investors and issuers. They are true ‘public servants,'” said Gensler.
He thanked his colleagues for their collaboration and noted that it had been an honor to lead the Commission. The official release states that he led the agency through a reliable regulatory program aimed at increasing efficiency, stability, and integrity in U.S. capital markets.
Billionaire Elon Musk commented on Gensler’s statement, asking whether it was true that the Commission only worked one day per month.
Donald Trump, during his election campaign, promised to fire Gensler. Later, Gensler himself hinted at his departure.
As of the time of writing, it is unclear who will replace Gensler as SEC Chairman. Among the candidates under consideration by Trump’s transition team are Robinhood’s CLO Dan Gallagher, SEC Commissioner Hester Peirce, and attorney Teresa Goody Guillen.
Cryptol – your source for the latest news on cryptocurrencies, information technology, and decentralized solutions. Stay informed about the latest trends in the digital world.