Tron founder Justin Sun has extended a public job offer to Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC). Gensler’s invitation to work with Sun comes when tensions between the SEC and the cryptocurrency industry are rising.
Parts of the sector are criticizing Gensler for his lack of regulatory action. It’s an unexpected proposal since US President Donald Trump had discussed replacing Gensler upon winning the election.
Trump had recently criticized Gensler’s approach, suggesting that his regulatory stance has stifled economic growth in the U.S. crypto sector. Trump’s statements in recent days have raised questions in the crypto community over what the SEC is doing and what will happen to Gensler.
Sun added to this dialogue by publicly inviting Gary Gensler to join one of his ventures at Tron or Liberland.
Justin Sun Teases Job Offer for SEC’s Gary Gensler
Just Sun said that even if he approached the sector more open-mindedly and supportively, he would ‘think’ about whether employing Gensler would be worthwhile.
Some saw his invitation as a humorous poke at Gensler, whom many regard as an enemy of the crypto industry. But Sun said Gary Gensler could end up in the crypto sector if he aligns with better policies. He touts the self-proclaimed libertarian micronation Liberland, which Sun announced as his base for blockchain innovation.
He thinks Liberland’s minimal government intervention and pro-blockchain governance make it a good test case for Gensler’s potential future in the industry. Gensler’s tenure at the SEC has been marked by strict regulatory actions, targeting numerous blockchain projects for alleged securities violations.
Many in the crypto industry see these measures as stifling innovation, with Gensler representing an outdated financial approach. Meanwhile, some interpret Justin Sun’s offer as a satirical proposal, highlighting the strained relations between the SEC and crypto pioneers.
Coinbase CEO Pushes for SEC Leadership Change
The crypto community has been growing increasingly upset at the direction in which Gensler is leading the SEC. Many even suggest a change in SEC policy and leadership.
Just last week, Coinbase CEO Brian Armstrong criticized Gary Gensler’s position. He had stated that the next SEC chair should take a more friendly approach toward the crypto industry.
Some of his cases included the withdrawal of regulatory cases, which, he argued, could assist in restoring public trust in the SEC. As discussions about a potential SEC leadership change grow, several names have emerged as possible replacements.
Current SEC commissioner Hester Peirce, known for her balanced stance on crypto regulation, is among the leading candidates. In crypto circles, Peirce has become famous for policies favoring innovation and clarity in regulation.
Among other candidates are former Commodity Futures Trading Commission (CFTC) head Chris Giancarlo, known as “Crypto Dad,” and Dan Gallagher. Giancarlo is a noted crypto supporter who supports Bitcoin futures and the digital dollar. However, each potential successor to Gary Gensler brings a different approach to charting the SEC’s course.
Crypto Industry Hopes for Trump-Led Policy Shift
Sun’s public endorsement of Donald Trump’s stance on crypto regulation has fueled hopes within the industry for more favorable policies. Justin Sun congratulated Trump on his commitment to changing the SEC leadership, which he sees as an opportunity to advance the crypto sector in the U.S.
He expressed optimism that Trump’s administration would create a regulatory environment that encourages innovation and supports the industry’s growth. This sentiment echoes broader expectations in the crypto community for a change in U.S. regulatory policies if Trump returns to office.
Many view this potential shift as essential for the U.S. to remain competitive in the global crypto market. The industry anticipates that a new SEC chair could pave the way for growth and development, aligning U.S. policies with crypto-friendly countries’ policies.
