Changpeng Zhao, former CEO of cryptocurrency exchange Binance, has taken to X (formerly Twitter) to express amusement following the Securities and Exchange Commission’s (SEC) decision to drop its lawsuit against Binance. Zhao shared a photo of Gary Gensler wearing a clown nose alongside a message reading ‘Crypto is still here’. 💰 🤡 His post came shortly after the SEC reversed its stance on Binance, effectively ending their legal battle that began in 2023 under the previous administration led by former SEC chairman Gary Gensler. This move aligns with the SEC’s broader strategy to reduce regulatory pressure in the cryptocurrency market. Previously, Zhao voiced his dissatisfaction with Gensler’s regulatory approach, claiming it disproportionately targeted large crypto companies while neglecting smaller malicious actors. He also accused the SEC of hindering innovation within the U.S. crypto industry.