{"id":10712,"date":"2025-08-07T12:38:22","date_gmt":"2025-08-07T12:38:22","guid":{"rendered":"https:\/\/xstorynews.com\/?p=10712"},"modified":"2025-08-07T12:38:22","modified_gmt":"2025-08-07T12:38:22","slug":"trump-we-fired-joe-bidens-sec-chair-gary-gensler-we-fired-him","status":"publish","type":"post","link":"https:\/\/xstorynews.com\/?p=10712","title":{"rendered":"Trump: \u2018We Fired Joe Biden\u2019s SEC Chair Gary Gensler \u2014 We Fired Him\u2019"},"content":{"rendered":"<p>President Donald Trump signed the GENIUS Act into law, aiming to solidify American leadership in global banking and cryptocurrency technologies.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-10713\" src=\"https:\/\/xstorynews.com\/wp-content\/uploads\/2025\/08\/465063159_937312061762374_4971802148411072904_n-18-266x300.jpg\" alt=\"\" width=\"266\" height=\"300\" srcset=\"https:\/\/xstorynews.com\/wp-content\/uploads\/2025\/08\/465063159_937312061762374_4971802148411072904_n-18-266x300.jpg 266w, https:\/\/xstorynews.com\/wp-content\/uploads\/2025\/08\/465063159_937312061762374_4971802148411072904_n-18.jpg 501w\" sizes=\"auto, (max-width: 266px) 100vw, 266px\" \/><\/p>\n<p>While speaking at an event, Trump thanked numerous political and corporate players for their contributions to the bill\u2019s passage and overall government efforts. The signing was a significant win for the Bitcoin industry, which has previously experienced mistrust.<\/p>\n<p>Trump emphasized the move was a significant policy departure from former President Joe Biden\u2019s administration and noted that former SEC Chair Gary Gensler was removed to create a more favorable regulatory climate for cryptocurrency.<\/p>\n<p>\u201cI remember, I did this and I said this, and I mentioned this name and I got the greatest applause of the whole campaign. We fired Joe Biden\u2019s SEC Chair Gary Gensler. We fired him. (applause) But, I remember, I was making this speech and, you know, it was just a line in the speech. And I said, and I will fire Gary Gensler \u2014 the place exploded,\u201d Trump said.<\/p>\n<p>\u201cI said \u2014 I finished, I said, what the hell did that guy do? There was \u2014 there was a lot of hatred there, I\u2019ll tell you. And it turned out, as I got familiar with everything, it turned out you were absolutely right,\u201d he added.<\/p>\n<p>WATCH:<\/p>\n<p><iframe class=\" lazyloaded\" src=\"https:\/\/share.grabien.com\/share?id=3038798&amp;userid=17447&amp;loginid=15879&amp;playercolor=%23ee1a3b&amp;playersize=640&amp;code=62fab168188dcb4abc19b22ac284d088\" allowfullscreen=\"allowfullscreen\" data-src=\"https:\/\/share.grabien.com\/share?id=3038798&amp;userid=17447&amp;loginid=15879&amp;playercolor=%23ee1a3b&amp;playersize=640&amp;code=62fab168188dcb4abc19b22ac284d088\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p>\u201cIt is a major milestone. It establishes, for the first time, a regulatory regime for stablecoins, a rapidly developing financial product and industry,\u201d said Andrew Olmem, a managing partner at law firm Mayer Brown and the former deputy director of the National Economic Council during Trump\u2019s first term.<\/p>\n<p>Crypto traders frequently utilize stablecoins, a kind of cryptocurrency created to maintain a steady value, typically a 1:1 dollar peg, to transfer money between tokens. Stablecoins, according to their proponents, can facilitate immediate payments and have seen a significant increase in use in recent years.<\/p>\n<p>The stablecoin bill, if it becomes law, would mandate that tokens be backed by liquid assets, such as short-term Treasury bills and US dollars, and that issuers reveal to the public the makeup of their reserves every month.<\/p>\n<p>The cryptocurrency sector has long advocated for lawmakers to enact laws establishing regulations for digital assets, claiming that a well-defined framework may facilitate the wider use of stablecoins. The industry attempted to portray the issue as bipartisan and invested over $119 million in supporting pro-crypto congressional candidates in the previous year\u2019s elections.<\/p>\n<p>The House passed a stablecoin measure last year, but the Senate, then controlled by Democrats, did not take it up, and it died.<\/p>\n<p>After seeking cryptocurrency revenue throughout his presidential campaign, Trump has attempted to significantly alter U.S. cryptocurrency regulations.<\/p>\n<p>Bo Hines, the head of Trump\u2019s Council of Advisers on Digital Assets, stated that the White House aims to pass a stablecoin measure by August.<\/p>\n<p>Trump noted that during the 2024 campaign, he became the first presidential candidate in history to speak at the Bitcoin Conference.<\/p>\n<p>\u201cAnd at that time, crypto builders and founders were under relentless assault by the Biden administration, which was trying to crush your industry. \u2026 and I got the greatest applause of the whole campaign. We fired Joe Biden\u2019s SEC chair, Gary Gensler. We fired him,\u201d he said to cheers from the crowd in the East Room.<\/p>\n<p>Robinhood CEO Vlad Tenev, who attended the event, said he was impressed by how quickly the administration has been collaborating with Congress.<\/p>\n<p>\u201cThis is a lot of legislation and it\u2019s complex, and the partnership and collaboration with industry has also been quite strong,\u201d Tenev told the Washington Times.<\/p>\n<p>\u201cI know a lot of people quibble about some details, and there\u2019s always things that could be improved, but I think it\u2019s been incredibly strong,\u201d he said. \u201cIt\u2019s a great start to making the US the global leader in digital assets.\u201d<\/p>\n<p>Other tech industry leaders at the event included Dave Ripley of Kraken, Brian Armstrong of Coinbase, Paolo Ardoino of Tether, Jeremy Allaire of Circle, and Cameron and Tyler Winklevoss of Gemini Exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Donald Trump signed the GENIUS Act into law, aiming to solidify American leadership in global banking and cryptocurrency technologies. While speaking at an event, Trump thanked&#8230; <\/p>\n","protected":false},"author":1,"featured_media":10713,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"a3_pvc":{"activated":false,"total_views":0,"today_views":0},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trump: \u2018We Fired Joe Biden\u2019s SEC Chair Gary Gensler \u2014 We Fired Him\u2019 - X Story News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/xstorynews.com\/?p=10712\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump: \u2018We Fired Joe Biden\u2019s SEC Chair Gary Gensler \u2014 We Fired Him\u2019 - X Story News\" \/>\n<meta property=\"og:description\" content=\"President Donald Trump signed the GENIUS Act into law, aiming to solidify American leadership in global banking and cryptocurrency technologies. 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