Ramazan Eles 
John Deaton, a candidate for the US Senate, has demanded the resignation of Gary Gensler, the current Chairman of the Securities and Exchange Commission (SEC), alleging political bias and missteps under his leadership.
In a detailed post on social media platform X (formerly Twitter) on March 26, Deaton asserted that Gensler should step down as the SEC, under his watch, has neglected its primary mission of protecting investors. Instead, Deaton claimed that Gensler has prioritized personal and political agendas.
Deaton criticized the SEC’s handling of cases involving modern technologies like artificial intelligence and Bitcoin, arguing that outdated laws are being applied arbitrarily. He pointed to instances such as the Ripple lawsuit, where individual investors suffered significant losses due to the SEC’s actions.
Highlighting a ruling by a judge appointed by President Obama in the Ripple case, Deaton emphasized that the SEC’s overreach had harmed innocent investors. He also cited the US Court of Appeals’ criticism of the SEC’s rejection of a Bitcoin exchange-traded fund (ETF) application as further evidence of systemic failure under Gensler’s leadership.
Deaton also took aim at Senator Elizabeth Warren, accusing her of influencing the SEC for personal political gains. He alleged a coordinated effort between Gensler and Senator Warren, suggesting that it compromised the SEC’s independence.
The call for Gensler’s resignation comes amidst growing scrutiny of the SEC’s actions and its impact on investors, particularly within the cryptocurrency and fintech sectors
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