Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), has sparked speculation about his potential departure following remarks at a recent speech. This development has ignited optimism within the crypto community, with Ripple CEO Brad Garlinghouse and MicroStrategy Chairman Michael Saylor celebrating the news as a positive shift for the industry.
Gensler’s Farewell Signals?
Gensler’s speech focused on updating regulations across markets, including the crypto sector. Notably, he reflected on inheriting enforcement actions such as the Ripple lawsuit and criticized most cryptocurrencies as speculative or illicit. However, his concluding remarks hinted at his departure, describing his tenure as an era of progress for U.S. capital markets alongside the SEC team.
This statement, interpreted as a potential farewell, comes as former President Donald Trump’s re-election campaign includes a promise to fire Gensler on his first day in office.
Crypto Leaders React
Ripple CEO Brad Garlinghouse referred to Gensler’s “last days in office” on social media, expressing hope for a more crypto-friendly SEC under Trump’s administration. Garlinghouse, speaking at Cantor’s Annual Crypto Conference, wore a provocative T-shirt stating “F**k The SEC” and reiterated his belief in the U.S. becoming a global crypto hub.
Michael Saylor echoed similar sentiments, calling Gensler’s exit “bullish” for crypto. In an interview with CNBC, he suggested it could lead to regulatory clarity and pro-Bitcoin policies, ending the SEC’s adversarial stance toward digital assets.
Ripple Case Speculation
Under Gensler, the SEC’s aggressive crypto regulation drew criticism, particularly the lawsuit against Ripple. Gensler’s potential exit has fueled hopes for a settlement before the lawsuit’s expected 2026 conclusion.
XRP surged to a 16-month high of $0.8452 amid this speculation, reflecting investor optimism. At the time of writing, XRP trades at $0.7978, marking a 47.89% increase over the past month.
