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20,000 people have signed a petition on Change.org demanding the resignation of SEC Chairman Gary Gensler.
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The community wants the resignation of the SEC chairman
Petition on the web Change.org, launched a few days ago by citizen Roy Ferneini, has reportedly already gathered more than 20,000 signatures. The motivation for requesting a petition on the association's website reads:
“Gary Gensler is complicit in the criminal activity of Citadel in naked short selling and dark pool abuse. He is guilty of obstruction of justice due to his lack of enforcement of uncovered short selling laws. If Gary Gensler will not do his job as head of the SEC, we demand his immediate resignation. We need a fair market; The head of the SEC is expected to protect investors, not criminals”.
The attack against the SEC chairman reportedly stems from his well-known battle against cryptocurrencies, which are seen as dangerous to financial stability and their use by criminal organizations. The US Securities and Exchange Commission has filed dozens of lawsuits against crypto companies accused of not being licensed to sell financial products.
The SEC chief is also accused of questionable dealings with some traditional financial giants such as Blackrock, Vanguard and Citadel. The petition against SEC Chairman Gary Gensler specifically refers to his alleged failure to protect retail investors from fraud due to uncovered short selling and dark pool abuse by Citadel Securities, which is accused of market manipulation.
On July 27, a lawyer John E. Deatonreportedly revealed that a portion of Gensler's assets, held in Annabel Lee LLC and Marital Trust, would actually be managed by Vanguard Group. The SEC chairman would have a net worth of more than $100 million, of which Vanguard would manage about $90 %.
Gary Gensler's Suspicious Transactions
According to the lawyer, the SEC chairman was also allegedly involved in short-selling operations of cryptocurrency-related securities such as AMC Theaters and GameStop through Vanguard Group and BlackRock.
This would be very serious, not only because of the office Gensler holds, but also because the SEC has long taken a very hard line against companies associated with cryptocurrencies.
At the end of June, Gensler defined Bitcoin as a commodity and cryptocurrencies as securities, and therefore it is necessary to regulate them as such.
This is why it is said that most of the collected signatures came from circles connected to the cryptocurrency sector.
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