A number of memecoins drawing their likeness from the United States Securities Exchange Commission and its chair, Gary Gensler, have seen a sharp spike in price following the regulator’s lawsuits against crypto exchanges Coinbase (NASDAQ:COIN) and Binance.
One such token is Good Gensler (GENSLR), which rallied more than 260% in the hours following the regulator’s June 6 complaint against Coinbase for allegedly offering unregistered securities.