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<p class="is-style-lead">False rumors about SEC Chair Gary Gensler’s resignation spark crypto community uproar, fueled by AI-generated misinformation.</p> 
<p class="is-style-default">False rumors regarding the resignation of Gary Gensler, the US Securities and Exchange Commission (SEC) chair, have once again caused a stir within the crypto community. This time, however, artificial intelligence (AI) seems to have played a role in generating and propagating misinformation.</p> 
<p>Over the weekend, news stories claiming Gary Gensler’s resignation began surfacing on several smaller crypto outlets. One particular website, CryptoAlert, published an <a href="https://www.thecryptoalert.com/post/sec-sources-confirm-gary-gensler-resignation" target="_blank" rel="noopener">article</a> titled “SEC Sources Confirm Gary Gensler Resignation,” which was subsequently copied and shared on various platforms, including bearish Twitter accounts like @WhaleChart.</p> 
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   <p lang="en" dir="ltr">BREAKING:<br><br>Anonymous official at the SEC has reportedly disclosed that chairman Gary Gensler is going to resign following an internal investigation.</p>— whalechart (@WhaleChart) <a href="https://twitter.com/WhaleChart/status/1675469681384206336?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 2, 2023</a>
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<p>However, on July 3, journalists contacted the SEC and unveiled the truth: the news was entirely false.</p> 
<p> You might also like: <a href="https://crypto.news/bill-to-dismiss-sec-chairman-gary-gensler-gains-support/"> Bill to dismiss SEC chairman Gary Gensler gains support </a> </p> 
<h2 class="wp-block-heading" id="strong-gensler-is-strong-not-stepping-down"><strong>Gensler is </strong>not stepping down</h2> 
<p>Fox Business reporter Eleanor Terrett responded to crypto lawyer John Deaton, stating, “My SEC sources are calling BS on this,” and <a href="https://twitter.com/EleanorTerrett/status/1675576832337367040" target="_blank" rel="noopener">confirmed </a>that she had contacted the SEC for an official comment.</p> 
<p>Fox senior correspondent Charles Gasparino also sought <a href="https://twitter.com/CGasparino/status/1675620903894368258" target="_blank" rel="noopener">clarification</a>, sharing an email exchange with the SEC’s chief PR representative, who expressed confusion at the rumor and ultimately stated that Gensler was not resigning.</p> 
<p>Interestingly, reports suggest that AI, similar to many other articles on the dubious website, generated the false news story.&nbsp;</p> 
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<p>The crypto community initially responded to the news with elation. Gensler has been perceived as a vocal industry critic, frequently targeting leading companies and their practices throughout the year.</p> 
<p>Messari co-founder Ryan Selkis expressed his lack of surprise at the rumors, speculating that Gensler’s resignation could be a political move to support the current administration in an election year.</p> 
<p>Selkis <a href="https://twitter.com/twobitidiot/status/1675626084719636486" target="_blank" rel="noopener">suggested </a>that Gensler stepping down could benefit the Democrats, as his stance on crypto-related issues had become a contentious topic that might impact the party’s standing in the Senate and key electoral college states.</p> 
<h2 class="wp-block-heading" id="previous-rumors-and-controversies-surrounding-gensler">Previous rumors and controversies surrounding Gensler</h2> 
<p>It is worth noting that this is not the first time rumors of Gensler’s resignation have circulated. On April 20, <a href="https://pkbnews.in/gary-gensler-fired/" target="_blank" rel="noopener">claims </a>spread that he was preparing to be “fired,” although these claims originated from questionable sources.</p> 
<p>Furthermore, on June 12, a bill titled the “SEC Stabilization Act” was introduced to the House of Representatives, featuring provisions aimed at removing Gensler from his position and labeling him a “tyrannical Chairman.”</p> 
<p> Read more: <a href="https://crypto.news/how-sec-chair-gary-gensler-moved-from-crypto-advisor-to-antagonist/"> How SEC chair Gary Gensler moved from crypto advisor to antagonist </a> </p>

False rumors of SEC’s Gary Gensler’s resignation fueled by AI

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