Facebook’s XRP group is in an uproar about unfounded rumours of Gensler’s resignation

Misinformation concerning Gary Gensler’s purported departure as chair of the Securities and Exchange Commission (SEC) is presently circulating widely throughout the XRP community.

The Securities and Exchange Commission (SEC) chair, Gary Gensler, has not resigned as rumoured by the XRP community.

Having previously served as head of the Commodity Futures Trading Commission during the Obama administration, Gensler took over as SEC Chair in April 2021.

During his tenure, the SEC’s case against Ripple Labs, the developers of the XRP coin, has received significant attention.

Despite the speculation, it appears doubtful that Gensler would quit. His time in office has been characterised by an unmistakable drive towards strict crypto rules and more market transparency.

Gensler’s purported resignation is even more suspicious given that no SEC head has ever resigned during the first two years of their term.

Some notable members of the XRP community have also begun questioning these unproven assertions, adding to the counternarrative. Jungle Inc, a prominent member of the XRP community, alerted users to a false news website that was circulating an unverified report that Gensler had resigned.

Another notable member, Crypto Eri, echoed this sentiment, urging the group to “be responsible users of social media and not follow/share/spread anything without verifying.”

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