News

Rumor: Gary Gensler Accused Of Market Manipulation In $2.5 Million Short Position

Key Points:

  • Gary Gensler, chairperson of the U.S. Securities and Exchange Commission (SEC), has been accused of market manipulation by shorting Bitcoin (BTC) and other crypto-focused stocks.
  • Coinbase, one of the largest cryptocurrency exchanges, is rumored to have evidence supporting the allegations against Gensler.
Gary Gensler, chair of the SEC, is accused of market manipulation. Coinbase may have evidence of Gensler shorting BTC. Allegations are unverified.

Recently, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), has been accused of market manipulation. The petition has been started against the SEC chair.

According to a source named Capo WSB, Coinbase, one of the largest cryptocurrency exchanges, is rumored to have evidence that Gensler placed substantial short positions in Bitcoin (BTC), amounting to over $2.5 million, barely 48 hours ago. However, the specifics of this information have yet to be made public.

The potential consequences of these claims extend beyond Gary Gensler’s career. They could also threaten the credibility of the SEC, the primary regulatory organization for financial and securities markets in the United States. As Chairperson of the SEC, Gensler is responsible for ensuring fair and transparent markets. However, it is important to keep in mind that these are only allegations at this point; thus, it is crucial to maintain the presumption of innocence until the charges can be substantiated or refuted.

Capo WSB said that this is not the first time that Gary Gensler has been accused of influencing the markets by using information that is not publicly available. Multiple reports from August 2022 demonstrate instances where he allegedly engaged in market manipulation similar to those described earlier. However, it is important to note that these accusations are also unverified at this time.

The allegations against Gary Gensler are serious and could have far-reaching consequences. It is important to conduct a thorough investigation into the matter and maintain a neutral perspective until more information becomes available.

At the time of writing, BTC is trading at $26,461, down nearly 3% over the last 48 hours.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Thana

Coincu News

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.

Recent Posts

Dogecoin Price Reaches 5-Month High: Here’s What’s Driving The Increase 

The Dogecoin price has reached a five-month high, and investors should buy the Ethereum token…

28 mins ago

Best Cryptos to Invest in Now: Don’t Miss Out on These Potential Game-Changers!

Crypto isn’t just for the tech-savvy anymore; it’s for everyone. As more people jump into…

1 hour ago

Trust Wallet CEO Backs Web3, Plus Wallet’s Top-Tier Encryption Ensures Secure Asset Access Amid Crypto Liquidation Hits $277M

Read how Plus Wallet’s top-tier ensures secure, unified digital asset management. Get the latest updates…

4 hours ago

Former Alameda CEO Will Now Serve 2-Year Sentence

Former Alameda CEO Caroline Ellison reported to a Connecticut federal prison on November 7 after…

5 hours ago

Degen Rollup Key Issue Forces Possible Chain Restart

Degen Rollup Key Issue: Conduit seized Degen’s L3 private key, causing 54 hours of downtime…

5 hours ago

This website uses cookies.