Former SEC official: Gary Gensler is trying to manipulate the SEC's enforcement division after leaving office

Odaily Planet Daily News According to former head of the SEC's Internet Enforcement Office, John Reed Stark, a severe warning has been issued regarding the potential conflicts within the agency following Trump's election victory. Stark recently posted on X, "With a series of sudden promotions of incompetent officials, SEC Chairman Gary Gensler has initiated a deep government purge. Gensler's behavior is not only shameful, but also shocking." Stark accuses Gensler of promoting five senior officials in the SEC's enforcement division to ensure his influence after he leaves. Four of these officials have extensive experience in cryptocurrency enforcement. He describes these actions as unprecedented and notes that such promotions typically last for ten years, not one month. Stark explains that these are career civil service positions, meaning the new administration cannot easily reverse them. Stark said, "SEC Chairman Gary Gensler is obviously trying to manipulate the SEC enforcement division after leaving office." He added that these promotions were quietly carried out without public announcement or press release. Looking ahead, Stark predicts that a conflict is brewing between the incoming Trump administration and the people appointed by Gensler: "The orders from the White House and the crypto czar to SEC's new chairman Paul Atkins are undoubtedly to clean house, take names, and immediately order a permanent halt to all SEC investigations, lawsuits, appeals, and rulemaking related to cryptocurrencies."