Gary Gensler Is Now Being Accused Of Market Manipulation
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The Securities and Exchange Commission's (SEC) very own Chairman Gary Gensler is now being accused of market manipulation by a large part of the crypto community.
Crypto investors allege that the Chairman has a $2.5 million short position on Bitcoin (BTC).
CryptoRank says Coinbase may have evidence of Gensler shorting BTC though Allegations are unverified.
"The potential consequences of these claims extend beyond Gary Gensler's career.
They could also threaten the credibility of the SEC, the primary regulatory organization for financial and securities markets in the United States.
As Chairperson of the SEC, Gensler is responsible for ensuring fair and transparent markets.
However, it is important to keep in mind that these are only allegations at this point; thus, it is crucial to maintain the presumption of innocence until the charges can be substantiated or refuted."
Interestingly enough, Gary Gensler applied to serve as an advisor for crypto exchange Binance in 2019 prior to becoming SEC chair, now the SEC plans to freeze Binance accounts.
While the crypto community might be on the Chairman's case for his relentless attack on crypto, a petition has now re-surfaced asking for Gary Gensler's removal.
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