The SEC equipped this week that its director of enforcement, Gubir Grewal, would possibly well well be departing the company on October 11, and the reaction on Crypto Twitter became as soon as fierce and swift.

“Don’t let the door hit you on the procedure out,” Alexander Grieve, the vp of govt affairs at VC firm Paradigm, quipped on X.

Grewal and his boss, SEC chair Gary Gensler, are wildly unpopular in the crypto world for his or her perceived hostility against the industry.

All the procedure through Grewal’s tenure, which began in June 2021, the SEC pursued bigger than 100 enforcement actions in opposition to crypto corporations, alongside side leading exchanges Binance, Kraken and Coinbase; XRP sponsor Ripple; and Metamask developer Consensys. Within the case of Binance, the replace in the slay entered a plea deal by which it paid $4.3 billion in fines to settle the SEC’s civil expenses and the Department of Justice’s prison expenses.

Read more: SEC Appeals Ruling in Ripple Labs Lawsuit

“Director Grewal pursued a needless and arbitrary ‘law by enforcement’ approach that has handiest created uncertainty and challenges for digital asset corporations,” Consultant French Hill (R-AR), frequently an advocate for the crypto industry, said on X.

Within the meantime, Jake Chervinsky, chief prison officer at crypto VC firm Variant, well-known that Grewal’s departure is “likely the inevitable discontinue to a campaign of illegal harassment and misrepresentation leading to many embarrassing defeats in court.” Among these defeats were Ripple being hit with ethical a $125 million heavenly for violating securities prison pointers while the SEC sought a $2 billion penalty, although the SEC equipped on Wednesday that it became as soon as appealing that resolution. The SEC became as soon as also forced to approve enviornment bitcoin replace-traded funds by a Washington D.C. appeals court earlier this twelve months.

Some in the industry theorized about the importance of the timing of Grewal’s departure from the SEC.

Read more: Gary Gensler Reiterates in Speech That Coinbase, DeFi Ought to serene Be Defined as ‘Exchanges’

“9 days perceive and no instantaneous replace equipped come one amongst about a things,” Adam Cochran, managing associate at activist enterprise capital firm Cinneamhain Ventures, mused on X. “1) The writing is clearly on the wall that Gensler is out subsequent term in both administration and senior other folks are leaping ship hastily [or] 2) Gensler is taking heat for his bs from even his top supporters (Warren/Brown) and gave up a scape goat [sic].”

Frail president Donald Trump has pledged to “fire” Gensler on “day one” if he is elected president, while Vice President Harris is going through stress from crypto industry donors to invent the equal.

The SEC has not equipped any instantaneous replace for Grewal, as an different saying in the click free up that the Enforcement Division’s deputy director, Sanjay Wadha, will aid as “acting director,” and the Division’s chief counsel Sam Waldon will rob on the position of “acting deputy director.”