Good Gary Gensler (GENSLR) is an ERC-20 memecoin launched on April 19, 2023 which was created based on the concept of their being a pro-memecoin Good Gary Gensler in a parallel universe who is the opposite of United States Securities and Exchange Comissioner Gary Gensler in real life. ^[2] The token saw over $1.6 million in volume in the 24 hours after its launch. ^[5]

The SEC under Gensler's leadership has been criticized by many in the cryptocurrency community including Coinbase CEO Brian Armstrong who accused the agency of an “abdication of responsibility,” by not providing regulatory clarity and issuing Coinbase a Wells Notice despite Coinbase meeting with the SEC over 30 times. ^[1]

Gensler was also criticized for refusing to answer if he considered Ether (ETH) to be a security. In an April 18 hearing on oversight of the SEC, United States Representative McHenry used his opening statement to bring up the commission’s “punishing” of digital asset firms through regulation by enforcement without a clear path to compliance. The member of Congress reiterated calls for U.S. lawmakers to provide “clear rules of the road” for crypto through legislation. In addition, he pressed SEC Chair Gary Gensler to give a definitive answer on whether Ether was a security or a commodity. However, Gensler did not specifically answer the question. ^[4]

Lore

The lore behind the fictional Good Gary Gensler is explained on the GENSLR website. While SEC Commissioner Gary Gensler has been criticized by the crypto community for the SEC's lack of regulatory clarity, Good Gary Gensler is a champion of memecoins and creates $GENSLR as a weapon against FUD. ^[2]

Good Gary Gensler was the founder of the Intergalactic Crypto Defense League (ICDL) and a champion of crypto. When the ICDL headquarters received an urgent call that the Galactic Banksters and the FUD Spreader were planning to destroy the crypto universe with fear, uncertainty, and doubt, Good Gary knew he had to act fast. With his sidekick Satoshi the Shiba Inu, they set out on their mission to save the crypto world on their spaceship, The Coin Collector.
 
They encountered an asteroid field made up of obsolete physical currency, which they dodged with ease, and upon reaching the enemy base, Good Gary fought with his sword of a Thousand Tokens, incinerating the enemy’s lies with Satoshi’s fiery breath. When he faced the fearsome leader of the Galactic Banksters, he realized that Lord FOMO was nothing but a hologram. He struck his sword into the ground, and a surge of positive energy destroyed the hologram and shattered the FUD. The Galactic Banksters fled, and the crypto world rejoiced. Good Gary knew that there were still realities in the multiverse where cryptocurrencies were under threat, especially from his doppelganger – the Earth Gary Gensler. Good Gary created the $GENSLR Coin, an all-powerful cryptocurrency that was immune to FUD.

When Earth Gary summoned a team of bureaucratic banshees to challenge the $GENSLR Coin, Good Gary confronted him, armed with the power of the $GENSLR Coin and the unyielding support of crypto enthusiasts across dimensions. In the ultimate showdown, Good Gary emerged victorious, championing the cause of cryptocurrencies and proving that the true spirit of innovation and decentralization would always triumph.

Tokenomics

On April 19, 2023, the total supply of 420,000,000,000,000.00 GENSLR tokens was minted. ^[3] According to the Good Gary Gensler website, 90% of the $GENSLR tokens are allocated for liquidity on decentralized exchanges, 5% to support centralized exchange listings, and 5% for the team or as the Good Gary Gensler site says "whatever good gary wants". ^[2]

SEC Charges

On June 5th and 6th of 2023, Good Gary Gensler spiked after the SEC announced that it would be taking action against Binance and then Coinbase for selling unregistered securities among other charges. On June 5, 2023, after SEC filed charges against Binance the Good Gary Gensler rose by more than 70%. After the SEC filed charges against Coinbase on June 6, 2023, the token spiked rising by more than 200%. ^[5][6]