The XRP community, one of the largest in the crypto sector, is in the limelight for a rather unfortunate reason these days. Known for usually serving some news in advance, the community faced serious criticism on Twitter this time for sharing news that was far from realistic. The subject of this fake news revolved around the U.S. Securities and Exchange Commission (SEC) and its chairman, Gary Gensler.
False News of Gensler’s Resignation
From the early hours today, a news story asserting that Gary Gensler had resigned was being circulated on Twitter. It was mentioned that this was confirmed by sources within the SEC, yet no reliable pages have corroborated the story. The claim was initially shared by leading XRP-focused accounts such as Documenting Ripple, causing a shock wave.
Appointed as the chairman in April 2021, Gensler has had a controversial tenure since, but the resignation rumors are far from the truth. The lawsuit against Ripple Labs was initiated not under Gensler but under his predecessor, Jay Clayton. The reason behind the sharing of the false news of Gensler’s resignation by XRP-focused accounts remains unknown.
Some accounts in the XRP community, however, have begun to oppose this. Jungle Inc alerted the XRP community against the fake news, declaring it to be completely false. Crypto Eri, well-known to XRP investors, confirmed the news to be untrue, warning the community to be “responsible users” and inviting them to fight against the false information.
Upon reviewing the first news site to publish the news, TheCryptoAlert, it was seen that it has spread fake news in the past as well. Especially the “10 billion dollar XRP buyback” news had received backlash. It seems the domain was registered in June 2023, and so far, only seven news stories have been published. The first of these was three days ago, and the Twitter account has no tweets. The team is entirely composed of stock photos. All these factors almost certainly indicate that the news is fake.
