It is interesting to note that the crypto space has been flooded with memecoins since the resignation of former SEC Chairman Gary Gensler. This sounds funny as a meme, but the reality is that the current situation was created by Gary Gensler's own policies. If you were a pure project, trying to do anything financial or staking, you would be considered an investment contract or a security and sued under Gary Gensler's watch. So the crypto space turned to memecoins, which declared themselves worthless to avoid legal battles. ADA, SOL, BNB, XRP, v.v ., have all been named in lawsuits alleging they are securities. Meanwhile, Gary Gensler has not sued any memecoin project in the past four years. During that time, he has witnessed many rug pulls in crypto, including in 2024 alone: ​​DIO token, Froggy, Hawk Tuah, Sharpei, GUNIT, and many others. It may sound funny to say that we miss Gary Gensler as a meme, but in reality, we are still facing the consequences of his misguided crypto policies.