SEC Chair Gary Gensler Faces Scrutiny Over Missing Texts and Crypto Enforcement

Republican House Majority Whip Tom Emmer has labeled Gary Gensler as potentially the worst SEC chair in history, citing a lack of transparency and alleged dishonesty. The criticism follows a report from the SEC's Office of Inspector General revealing the loss of nearly a year's worth of text messages from Gensler's government-issued phone. The missing records, tied to crypto enforcement actions, were reportedly due to IT failures, poor backup systems, and unaddressed software flaws.

Emmer's remarks underscore growing tensions between regulators and the crypto industry, particularly as the recovered messages suggest heightened scrutiny of digital asset platforms under the Biden administration. The incident raises questions about accountability and the SEC's handling of critical data during a period of aggressive crypto enforcement.