🔥No longer a rumor, Gary Gensler will resign

🔶Specifically according to the official announcement from the SEC: On January 20, 2025, right after Donald Trump takes office, Gary Gensler will resign.

🔶Immediately after Trump wins the election, 18 states (all red states) filed a lawsuit against the SEC accusing it of "abusing power to suppress crypto." Although Trump has not commented on replacing the SEC chair, there has been much speculation that Gary will disappear.

🔶Trump has not made any statements, but Teresa Goody Guillén is a potential name to become the next SEC chair (she previously worked at the SEC and is currently the leader of the crypto division at the law firm BakerHostetler). If Teresa becomes the SEC chair, the regulations for crypto will be even more open as she supports crypto.

🔶By the fourth quarter of 2024, the SEC is still involved in lawsuits with exchanges Coinbase, Binance, Kraken, Crypto.com, eToro (accusing tokens of being securities); with Ripple (the XRP case just concluded last week), Consensys (the parent company of Metamask); Terraform Labs; and projects like Uniswap, Open Sea, Immutable, $TUSD, Mango.