Former Binance CEO Mocks Gensler Following SEC's U-Turn

Binance CEO Mocks Former SEC Boss Gensler After Lawsuit Dismissal

Changpeng Zhao, former CEO of cryptocurrency exchange Binance, responded to the dismissal of the SEC's lawsuit against his company with a pointed social media post. On X (formerly Twitter), Zhao shared an image of ex-SEC chairman Gary Gensler with a digital clown nose, simply captioning it: "Crypto is still here."

The lawsuit's dismissal represents a major win for the crypto industry, signaling a potential shift away from the SEC's controversial "regulation by enforcement" strategy that Gensler promoted. Zhao has long argued that Gensler's approach unfairly targeted major industry players rather than addressing smaller bad actors.

This development follows widespread criticism from crypto leaders who claim SEC oversight has hindered U.S. innovation. The resolution suggests growing momentum toward more constructive engagement between regulators and the digital asset sector as both sides work to establish clearer regulatory frameworks.