Justin Sun pitches a job opportunity to SEC Chairman Gary Gensler

Tron founder Justin Sun has offered Gary Gensler, the embattled chairman of the US Securities and Exchange Commission (SEC), a job.

The offer came to light in a recent X post, in which Sun expressed its willingness to hire Gensler as long as he could “genuinely treat the crypto industry with sincerity.”

The SEC chair gets a lifeline

This unexpected invitation comes as the crypto community celebrates Donald Trump’s return to the White House. Since he was the last president, Trump has repositioned himself as an avowed crypto enthusiast. During his campaigns, while soliciting support from the digital asset industry, he promised to fire Gensler on his first day back on the job.

The agency’s head has often been seen as a key antagonist of crypto, particularly with his “regulation by enforcement” tactics. This has seen the SEC take more than 100 actions against the crypto sector, with Wells’ latest notification against blockchain gaming platform Immutable (IMX).

Other companies that have found themselves in the regulator’s crosshairs include Crypto.com, Robinhood, ConsenSys and Uniswap. As of September 2024, the SEC had fined crypto companies more than $7 billion for various violations.

This year alone, the agency’s fines against virtual asset firms reportedly rose 3,000% as it collected $4.2 billion amid a decision to increase enforcement measures against industry

The practice led to growing bad blood between the industry and the financial watchdog, and the crypto fraternity eventually decided to flex its political muscle to help elect asset-sensitive lawmakers. It resulted in the vote of over 260 pro-crypto lawmakers and Trump’s return to the Oval Office.

Could Gensler’s time be up?

Given Trump’s previous statements about Gensler and the wave of crypto-friendly lawmakers elected to both houses of Congress, the feeling is that the SEC chairman’s time in office could be coming to an end soon.

Confirmed by the Senate on April 14, 2021, the former MIT professor’s five-year term does not end until 2026. He has shown no signs of leaving his post regardless of the outcome of the recent election to conclude

Also, despite his statements, President Trump has limited power to remove Gensler. The SEC’s independence as a federal agency grants its commissioners protection from arbitrary removal. Even if a new president were appointed, the 67-year-old would remain a commissioner.

However, some within politics and crypto believe that Gensler is not effectively fulfilling his duties. For example, Senator Warren Davidson has called for the resignation of the presidency for what he describes as a “long series of abuses”.

Sun’s job offer could be a possible exit if the Democratic appointee calls time on his SEC reign.

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