Tron founder Justin Sun has extended a surprising job offer to Gary Gensler, the current chair of the U.S. Securities and Exchange Commission (SEC), under the condition that he would “genuinely treat the crypto industry with sincerity.”
The proposal came amid speculation over Gensler’s future following Donald Trump’s return to the White House and his pledge to dismiss Gensler on his first day in office.
Gensler has been a controversial figure in the crypto world, often criticized for his “regulation by enforcement” approach. Since taking the helm at the SEC, he has overseen more than 100 enforcement actions against the crypto industry, including recent moves targeting Immutable (IMX), Crypto.com, Robinhood, ConsenSys, and Uniswap. In 2024 alone, the SEC’s fines on virtual asset firms skyrocketed by 3,000%, reaching $4.2 billion as part of an aggressive regulatory campaign.
Trump’s promise to remove Gensler has resonated within the crypto community, which has increasingly shown its political influence by supporting pro-crypto legislators. This effort contributed to the election of over 260 pro-crypto lawmakers and Trump’s anticipated crypto-friendly stance. However, Gensler, whose five-year term ends in 2026, has shown no intent to resign, and the SEC’s independence limits the president's power to unseat him.
Despite the limited authority to oust Gensler directly, Trump and some crypto-aligned political figures, like Senator Warren Davidson, continue to pressure him, with Davidson calling for his resignation due to alleged “abuses” in office. Sun’s job offer might be seen as an alternative path for Gensler if he chooses to step down from his role, potentially signaling an opening for a more crypto-aligned regulatory direction at the SEC.
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