Gensler’s Texts: A Comedy of Errors, Wipes, and Crypto Tears 😂

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Ah, the exquisite ballet of bureaucratic blunders! A Securities and Exchange Commission investigation, with all the finesse of a drunken tightrope walker, has concluded that “avoidable errors”-a phrase as bland as unsalted porridge-led to the vanishing of a year’s worth of text messages from the erstwhile chair, Gary Gensler. What a delightful farce! 🌪️

The SEC’s Office of Inspector General (OIG), in a report as riveting as a tax audit, revealed that the IT department-those wizards of the mundane-“implemented a poorly understood and automated policy” that executed an enterprise wipe of Gensler’s government-issued device. A digital guillotine, if you will, slicing through stored texts and logs with the precision of a blindfolded butcher. 🗡️

Compounding this tragicomedy were the usual suspects: poor change management, backups as reliable as a sieve, ignored system alerts, and vendor software flaws left unaddressed. The IT department, it seems, was less a bastion of competence and more a circus of incompetence. 🎪

And what of the lost messages? Oh, merely key communications about the SEC’s crypto enforcement actions-trivialities, really. Courts, Congress, and the public may never know the full extent of these deliberations, but fear not, for the OIG recovered a paltry 1,500 messages from colleagues and records. A mere 38% were “mission related,” involving senior staff in conversations as scintillating as a lecture on toenail fungus. 🦶

Crypto Enforcement: A Tale of Lost Words

Among the deleted texts were discussions about when the SEC would pounce on certain crypto asset trading platforms and their founders. A May 2023 conversation, involving Gensler and his entourage, was as ephemeral as a soap bubble in a hurricane. 🧼

“A May 2023 conversation involving Gensler, his staff, and the Director of the Division of Enforcement about when the SEC would be filing an action against certain crypto asset trading platforms and their founder.”

🇺🇸 LATEST: The SEC’s Inspector General released a report on the loss of text messages from former Chair Gary Gensler due to avoidable errors by the agency’s IT office between October 2022 and September 2023.

– CryptoMoon (@CryptoMoon) September 5, 2025

Irony, Thy Name is SEC

In a twist as rich as a Nabokovian plot, the SEC, while losing its own records, was busy cracking down on global financial institutions for violating record-keeping laws. “Finance depends on trust,” Gensler intoned, oblivious to the irony of his own agency’s failings. Trust, indeed! 🤡

The SEC has since disabled text messaging on most devices, notified the National Archives, and introduced records training-a belated attempt to close the barn door after the horse has bolted. 🏇

Transparency? What Transparency?

in the world of finance and regulation, the only certainty is uncertainty-and the occasional wipe of inconvenient texts. 🧹

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2025-09-05 06:49