NotWifGary Meme Coin Takes on Gary Gensler and the SEC

A group of cryptocurrency community members have joined forces to create a decentralized meme coin called NotWifGary (NWG) to take on the Securities and Exchange Commission (SEC) and its chairman, Gary Gensler.

With the token launch, the team aims to take a stand “against Gary Gensler and the SEC,” according to X on May 15. post From the project’s official account. “NotWifGary ($NWG) will be a memecoin, more specifically CultureCoin. “It will be launched in the most decentralized way possible, with a truly fair launch.”

Both the committee and its chairman, Gary Gensler, have been “illegally threatening digital assets by attacking Ethereum and open source developers,” the post added.

NotWifGary is not yet released and is seeking donations.

NotWifGary is not yet released. of the project Website Meme Coin says it is a “maximum decentralization champion” and will rely primarily on ETH contributions from the community.

With no release date specified, donations to the initiative will be open until 8am GMT on May 22nd. These donations will then fuel initial liquidity on the Lynex decentralized exchange (DEX), the team said.

Unlike pre-sales, donations will not be rewarded with tokens. Instead, donors will receive a Soulbound NFT to show their support.

NotWifGary “Mocks Regulators.”

NotWifGary aims to leverage the light-hearted and fun nature of the meme coin sector to empower activist movements in a unique way. A dozen “brave friends” are behind the project, some with a background in the zkEVM ecosystem Linea.

Our goal is to build a strong and active community. $ people This means Ethereum is a world for everyone and makes a mockery of the regulators coming our way. Supporting Ethereum in a fun way is a non-violent form of activism.

— NotWifGary – $NWG (@NotWifGary) May 15, 2024

In addition to promoting “fun” campaigns against the SEC, the project team hopes to build and foster a community committed to a world where everyone can utilize Ethereum. Any regulator that stands in the way of this pursuit will be ridiculed, the team jokingly warned.

The crypto community fights back against the SEC’s attacks on the crypto space.

The creation of NotWifGary follows the regulator’s issuance of the Wells Notice to UniSwap and a flurry of legal standoffs between the SEC and the cryptocurrency community this year. robin hood to show potentialAction must be taken.

MetaMask creator Consensys counterattacks accuse The SEC It seeks to “arbitrarily” expand jurisdiction over Ethereum by classifying it as a security.

“If the SEC succeeds in designating Ether as a security, companies and developers will see years of work wasted and billions of dollars of economic value destroyed,” ConsenSys said.

Over the past few weeks, reports have indicated that the SEC is considering classifying ETH as a security, which would make the regulator hostile to the cryptocurrency industry’s jurisdiction over the asset.

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