Gensler will soon be fired by Trump, and this year the new President gave the good news at the Bitcoin 2024 event. For years cryptocurrency Gensler, which has been trying to tame its industry through sanctions, is now nearing the end of the road. He made his final statements about cryptocurrencies today. So, did he give any signals that he would resign?
Gensler and Cryptocurrency Explanations
Bitcoin (BTC) 
$90,606 At the time of writing, it experienced a rapid decline to $ 88,234, which caused losses of up to 8 percent in many altcoins. We have written many times that even if the price makes ATH attempts, such withdrawals are not surprising. In the coming hours, we may see more movements into price areas that will trigger large liquidations, especially in futures transactions.
Going back to our topic, Gensler made some statements today. In his prepared remarks at the Practical Law Institute’s 56th Annual Securities Regulatory Institute, the current president repeated his view that most cryptocurrencies are securities.
“To put this into context, Bitcoin, Ether, and stablecoins aside, the rest of this market is around $600 billion.”
ETH Gensler generally made comments on the subject, but in his last speech he counted it on the side of BTC.
Will Gensler Resign?
Trump has said he will fire him, and sources say Gensler is likely to resign after the election, like other presidents. But he may still continue to serve as a commissioner at the SEC. The following part of his statement today was actually like a loyalty speech. Moreover, since this speech is their first statement after the elections, it is normal to interpret it this way.
“It has been a great honor to serve with them, to do the people’s work and to ensure that our capital markets remain the best in the world. “I was proud to serve alongside my colleagues at the SEC who work every day to protect American families on the financial highways.”
Trump will do this because he very clearly promised to fire Gensler “as an election promise.” He has to do this because he has promised a crypto-friendly candidate to replace him, and this is an issue that will become clear soon. Trump and his team are announcing the names they are considering for important public positions, and soon it will be the SEC’s turn.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
