SEC, Gensler-themed memecoins surge amid Binance and Coinbase lawsuits

A number of memecoins drawing their likeness from the United States Securities Exchange Commission (SEC) and its chair Gary Gensler have seen a sharp spike in rate following the regulators suits versus crypto exchanges Coinbase and Binance.One such token is Good Gensler (GENSLR) which rallied more than 260% in the hours following the regulators problem against Coinbase for using unregistered securities on June 6. Related: SEC crackdown on Binance and Coinbase surge DeFi trading volumes 444% In May, memecoins took the spotlight as risk-hungry traders frenzied into hyper-speculative tokens, desperately hunting for fast, outsized gains. At the time of publication, the cost of frog-themed memecoin Pepe and the synthetic intelligence-created token Turbo (TURBO) are respectively down 73% and 95% from their all-time highs according to CoinGecko information.

A number of memecoins drawing their similarity from the United States Securities Exchange Commission (SEC) and its chair Gary Gensler have seen a sharp spike in rate following the regulators lawsuits against crypto exchanges Coinbase and Binance.One such token is Good Gensler (GENSLR) which rallied more than 260% in the hours following the regulators grievance against Coinbase for using unregistered securities on June 6. Related: SEC crackdown on Binance and Coinbase surge DeFi trading volumes 444% In May, memecoins took the spotlight as risk-hungry traders frenzied into hyper-speculative tokens, frantically hunting for quick, outsized gains. At the time of publication, the cost of frog-themed memecoin Pepe and the synthetic intelligence-created token Turbo (TURBO) are respectively down 73% and 95% from their all-time highs according to CoinGecko information.