Former advisor Ethereum Steven Nerayoff is calling for the immediate resignation of SEC Chairman Gary Gensler, accusing him of unethical behavior.
While crypto industry representatives are unhappy with the regulator's aggressive stance under Gensler, Nerayoff claims that the official forced him to remain silent about abuses of power.
On November 11, 2024, Nerayoff wrote that Gensler facilitated illegal short selling and concealed misconduct related to the actions Ripple , the Communist Party of China and the activities Ethereum Foundation.
Gensler's failure to enforce naked short-selling rules amounted to election meddling, he said, and Nerayoff called on future President Donald Trump, Elon Musk, and Vice President J.D. Vance to expose the actions and hold the official accountable.
By the way, after Trump's victory, the CEO Ripple Brad Garlinghouse, who endorsed Kamala Harris, called for Gensler to be replaced with crypto-friendly candidates such as former CFTC Chairman Chris Giancarlo or former Acting Comptroller Brian Brooks.
Brad Garlinghouse, like Charles Hoskinson , practice a flexible approach to statements depending on the political situation.
