Key figures in the crypto industry, including Ripple CEO Brad Garlinghouse and MicroStrategy Chairman Michael Saylor, have reacted to SEC Chairman Gary Gensler’s potential departure. Gary Gensler recently hinted at stepping down from the SEC.
In a speech, he emphasized updating regulations in treasury, equity markets, disclosure, and governance. He noted inheriting 80 crypto-related enforcement actions, including Ripple’s lawsuit, from his predecessor Jay Clayton. Gensler reiterated his belief that most cryptocurrencies serve only speculative or illicit purposes.
Toward the end of his address, Gensler reflected on his contributions with SEC staff. His words resembled a farewell, sparking speculation that he may leave before President-elect Trump’s inauguration on January 20. Trump previously promised to remove Gensler on his first day in office.
Related article: Ripple CEO Calls for Accountability for SEC’s Gary Gensler
Ripple CEO and Saylor Celebrate Potential Exit
The crypto community reacted positively to the news. Brad Garlinghouse hinted that Gensler’s exit may be imminent. At Cantor’s Annual Crypto Conference, Garlinghouse wore a T-shirt with a provocative message against the SEC. He expressed optimism that a pro-crypto SEC chair could emerge under Trump’s administration.
Michael Saylor called Gensler’s potential departure a major win for digital assets during a CNBC interview. He predicted it would usher in clearer regulations and end the SEC’s aggressive stance on crypto.
XRP Soars Amid Speculation
Under Gensler, the SEC pursued strict enforcement actions against crypto, often labeling tokens as securities. Many in the industry view his exit as a turning point. XRP supporters believe it could fast-track the Ripple lawsuit’s settlement.
Related article: XRP Price Could Skyrocket if Trump Ousts SEC Chair Gary Gensler – Here’s How
With Gensler’s possible departure and Trump’s pro-crypto policies, some expect the SEC to resolve the case before its anticipated 2026 conclusion. This optimism drove XRP to a 16-month high of $0.8452.
Currently, it trades at $0.8194, marking significant gains of over 44% this week. Gensler’s rumored exit has sparked hope for a more favorable regulatory environment in the U.S. crypto space.
