XRP Community Ablaze with Fake Rumors of Gensler’s Possible Resignation

The XRP community is awash with blatantly fake rumors of the impending resignation of the Securities and Exchange Commission (SEC) Chair Gary Gensler.

Prominent XRP accounts like Documenting Ripple have been instrumental in circulating the unconfirmed news.  

Gensler assumed the role of SEC Chair in April 2021 after an illustrious career in public policy and academia, including serving as chairman of the Commodity Futures Trading Commission during the Obama administration. 

His tenure has seen a deep focus on the burgeoning crypto market, including the ongoing lawsuit between the SEC and Ripple Labs, creators of the XRP token.

Despite the swirling rumors, Gensler’s resignation seems highly unlikely. His tenure so far has been marked by a distinct push for robust crypto regulations and bringing more transparency to the market, a task that is far from complete.

As per historical precedence, no SEC chair has resigned within the first two years of their tenure, making Gensler’s supposed departure even more dubious.

Adding to the counter-narrative, some prominent XRP community members have started challenging these unverified claims. Jungle Inc, a well-known figure in the XRP community, warned followers of a fake news website spreading the uncorroborated Gensler resignation story. Crypto Eri, another prominent member, also advised the community to be “responsible users of social media and not follow/share/spread anything without verifying.”