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Gary Gensler of the SEC successfully delighted and then snidely let down cryptocurrency enthusiasts with a "legendary and respectable troll thread."

Gary Gensler, the chair of the US Securities and Exchange Commission, tricked a number of X users into thinking he was leaving the agency on Wednesday, but he later clarified that he is "not done."

“Serving as [SEC] Chair has been an honour. I've had the opportunity to witness directly over the last three years how the outstanding SEC staff assists both issuers and investors. In an X post from April 17, Gensler writes.

He seemed to be preparing to announce his resignation when he said in later writings that the SEC had finalised "more than 2,000 enforcement actions" and rules under his direction.

"And we're not done yet," Gensler continued, giving the last joke.

According to X statistics, the posts went viral and have now had over 1.1 million views.

Crypto trader Jordan Fish, often known as Cobie, wrote, "A legendary and respectable troll thread, honestly [in my opinion]."

Elliott Stein, a Bloomberg Litigation Analyst, stated, "At first glance, this really does feel like a resignation tweet, but then it's clearly not." "It's likely deliberate, considering Gensler's apparent inclination towards trolling."

General partner Scott Johnsson of Van Buren Capital emphasised that Gensler's posts "leads with [number] of enforcement actions."

"Might be similar to [the Department of Justice/Bureau of Prisons] displaying the total number of people behind bars. Distraction," he continued.

Under Gensler's direction, the SEC's enforcement proceedings pertaining to cryptocurrency hit a 10-year high last year, bringing 46 enforcement actions against cryptocurrency firms twice as much as in 2021.

Executives in the US cryptocurrency sector and a few legislators have accused Gensler of adopting a "regulation by enforcement" strategy towards cryptocurrencies, given that the SEC has asserted in litigation against cryptocurrency companies that dozens of cryptocurrencies are securities.

Gensler, on the other hand, asserted that businesses should "come into compliance" and added that cryptocurrency is full of fraud and manipulation.

In its own way, the crypto side of X retaliated against Gensler's piece.

Gensler was proposed by US President Joe Biden to lead the SEC in 2021. On April 17, 2021, Gensler began his five-year term and was eligible to continue as chair until April 17, 2026.

However, if the United States elects a new president and people are going to the polls, it is customary for the SEC chair to step down on a potential rematch between Biden and former president Donald Trump is scheduled for November 5.