SEC Chair Gary Gensler Seems Ready to Resign His Position as Trump Gearing Up to Take Office, and Meme Coins Like Gonesler Are Pumping

Speculation online suggests SEC Chair Gary Gensler is gearing up to resign his position ahead of Trump, and meme coins like Gonesler are pumping.

Securities and Exchange Commission (SEC) Chair Gary Gensler may be preparing to resign from his position ahead of President-elect Donald Trump taking office.

Gensler’s potential exit has sparked a wave of speculation in the crypto community, with several meme coins being launched in response.

One of the most successful Gensler meme coins is GONESLER, which surged 125x from its launch price to hit a market cap of $17 million.

SEC Chair Gary Gensler May Resign Ahead Of Trump Taking Office

President-elect Donald Trump’s victory in the November 5 election all but ensured Gensler’s time at the SEC was numbered.

At the Bitcoin Conference 2024 back in July, Trump made his feelings on Gensler clear to those in attendance, stating, “Let me say it again. On day one, I will fire Gary Gensler.”

Trump’s promise to remove Gary as the SEC chair on day one was met with a raucous cheer from the pro-crypto crowd.

There is a good chance that Gensler will resign from his role before Trump takes office in order to save himself from the public humiliation of being fired.

Crypto Community Responds With GONESLER, Other Gensler Meme Coins

It took a matter of minutes for multiple meme coins to go live regarding Gensler’s potential exit. As with most high-profile meme coins during this cycle, the majority were created on Solana.

While most have since died off overnight, one that is still going strong is $GONESLER.

Gary Gonesler (GONESLER) was launched less than ten minutes after Gensler’s comments began circulating yesterday.

Within 2 hours of being live, GONESLER shot up to $17 million in market cap, over 125x from its launch price. There was the typical sell-off overnight where early investors began taking profits.

However, where 99% of the other Gensler meme coins died there and then, GONESLER has begun recovering. During the sell-off, its market cap dropped as low as $2 million but is already back over $3.5 million. In its 18-hour lifespan thus far, GONESLER has processed over $50 million in trading volume.

With this being the only true survivor in the Gensler meme coin space, an official resignation from the SEC chair will likely send this back to its previous highs.