A new trending meme coin called Good Gensler ($GENSLR), inspired by Gary Gensler, the U.S. Securities and Exchange Commission (SEC) chairman, known for his tough stance on regulating crypto assets, has become a hot topic. The $GENSLR altcoin has taken the crypto world by storm, gaining over 1,500 percent in 24 hours and attracting attention from influencers and traders alike.
The parody lies in the fact that unlike the real Gensler, accused of stifling innovation and harming investors in the crypto space not just by the community but even the Republicans, the coin is based on a fictional version of Gensler, who lives in a parallel universe and is pro-crypto and anti-regulation.
According to the altcoin’s official website, Good Gensler was the founder of the Intergalactic Crypto Defense League (ICDL) and a champion of crypto. So when the ICDL headquarters received an urgent call that the Galactic Banksters and the FUD Spreader were planning to destroy the crypto universe with fear, uncertainty, and doubt, Good Gensler knew he had to act fast.
Good Gensler created the $GENSLR Coin, an all-powerful cryptocurrency immune to FUD. When Earth Gensler summoned a team of bureaucratic banshees to challenge the $GENSLR Coin, Good Gensler confronted him, armed with the power of the $GENSLR Coin and the unyielding support of crypto enthusiasts across dimensions.
The coin was launched on April 19, 2023, and has a maximum supply of 420 trillion GENSLR coins. It trades on Uniswap, Poloniex, LBank, and other crypto exchanges. According to CoinMarketCap, the coin has a fully diluted market cap of $7,990,598 and a 24-hr trading volume of $5,839,102. The coin has reached an all-time high of $0.00000002958 and has been trending on social media platforms such as Twitter and Reddit.
Some prominent figures who have mentioned or endorsed the coin include BitBoy Crypto, Beeple, Wall Street Bets, and even Good Gensler himself, who has a parody Twitter account with over 1,600 followers. The account posts humorous and sarcastic tweets about crypto regulation and SEC actions.
The coin’s slogan is “Good Gary Gensler: The Only Gensler You Can Trust,” Its logo is a caricature of Gensler shooting lasers out of his eyes and a beard. The coin also has a Telegram group with over 2,000 members where fans can chat and share memes about the coin.
The coin’s popularity reflects the growing frustration and resentment among crypto investors and enthusiasts towards the SEC and its chairman, known for hostile and overreaching attempts to regulate the crypto industry. As a result, many crypto projects have faced lawsuits or investigations from the SEC, such as Ripple, Coinbase, Uniswap, BlockFi, and others.
Despite several applications from various firms, the SEC has also been slow to approve any Bitcoin exchange-traded funds (ETFs). Moreover, Gensler has recently stated that most crypto assets are securities and should register with the SEC or face enforcement actions.
