Gensler-themed memecoins surge amid Binance and blockchain lawsuits.

The United States Securities Exchange Commission and its chair, Gary Gensler, have inspired a number of memecoins that have seen a surge in value after the regulator filed lawsuits against crypto exchanges blockchain and Binance. Good Gensler (GENSLR), one of these tokens, rose by over 260% following the regulator’s June 6 complaint against blockchain for allegedly offering unregistered securities. Similarly, Fuck Gary Gensler (FKGARY) rallied more than 530% in the last 48 hours. Another token featuring the ticker “SEC” experienced a massive surge in value of 15,530% after it was launched on June 5. However, the SEC-themed memecoin has plummeted more than 61% from its all-time high at the time of writing. Memecoins investments are generally considered high-risk due to their lack of underlying fundamentals and high volatility. Many of the tokens mentioned in this article have small market capitalizations and low liquidity, making them highly susceptible to price oscillations.

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