NotWifGary Meme Coin Will Stand Against Gary Gensler And The SEC

A bunch of crypto group members have joined forces to create a decentralized meme coin known as NotWifGary (NWG) to battle the Securities and Alternate Fee (SEC) and its chair, Gary Gensler.

By means of the launch of the token, the staff goals to face their floor “in opposition to Gary Gensler and the SEC,” in accordance with a Could 15 X put up on the mission’s official account. “NotWifGary [$NWG] shall be a memecoin, extra particularly a CultureCoin. It’s going to go dwell in essentially the most decentralized means with a really truthful launch.”

Each the Fee and its Chair, Gary Gensler, have been “unlawfully threatening digital property by attacking Ethereum and open-source builders,” the put up added.

NotWifGary Not Launched But, Searching for Donations

NotWifGary has not been launched but. The mission’s web site states that the meme coin “champions maximal decentralization,” and can rely primarily on ETH contributions from the group.

With no particular date for the launch specified, donations in the direction of the initiative shall be open till 8 a.m. GMT on Could 22. These donations will then facilitate the preliminary liquidity on the Lynex decentralized alternate (DEX), the staff mentioned.

Not like a presale, contributions is not going to be rewarded with tokens. As a substitute, donors will obtain a soulbound NFT marking their assist.

NotWifGary To ”Make Enjoyable Of Regulators”

NotWifGary is supposed to energy an activist motion in an unconventional means by profiting from the sunshine hearted and enjoyable nature of the meme coin sector. Twelve “courageous associates” are behind the mission, with some having a background within the zkEVM ecosystem Linea.

Our aim is to construct a stable and energetic group round $NWG that stands for a world the place Ethereum is for ALL and to make enjoyable of regulators coming our means. It is a non-violent type of activism to assist Ethereum… with FUN.

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

Along with fueling a “enjoyable” marketing campaign in opposition to the SEC, the mission’s staff hopes to construct and foster a group that strives for a world the place everybody can make the most of Ethereum. Any regulators that stand in the best way of this pursuit shall be made enjoyable of, the staff jokingly warned.

Crypto Group Fights Again In opposition to SEC’s Assault On The Crypto House

The creation of NotWifGary follows a flurry of authorized confrontations between the SEC and the crypto group this 12 months, when the regulator has issued Wells Notices to UniSwap and Robinhood to point potential enforcement motion.

MetaMask creator Consensys hit again by suing the SEC for ”arbitrarily” making an attempt to increasing its jurisdiction over Ethereum by classifying it as a safety.

“If the SEC succeeds in designating Ether as a safety, firms and builders would see years of labor squandered and billions of {dollars} of financial worth destroyed,” ConsenSys mentioned.

Over the previous few weeks, stories have revealed that the SEC is contemplating classifying ETH as a safety, which might give a regulator seen as hostile to the crypto business jurisdiction over the asset. 

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