Topic: Gary Gensler's SEC sues Crypto Influncers and posts on his Twitter as propaganda - page 4. (Read 3150 times)

This sort of behavior from these celebrities who are essentially influencers due to their fans really should be banned from being able to launch these altcoins being shilled due to a connection to their name:
https://www.fxstreet.com/cryptocurrencies/news/celebrity-meme-coins-gain-attention-as-iggy-azalea-and-davido-join-the-train-with-respective-token-launches-202405300225

As the great Agent K said "A person is smart. People are dumb, panicky, dangerous animals"

A PERSON knows that a scam coin or token is not BTC or even crypto in general.

PEOPLE dump all of that together and it hurts the legitimate crypto world.

So yeah, nail these people to the wall.

-Dave

The USA had the opportunity to take pole position in the global economy by allowing the use of cryptos on even terms in its capital markets – but Gensler et al. f$%#ed it all up.

Gary Gensler was totally ineffective as a regulator.

Like many things in the world of Joe Biden (don’t fool yourself – he really should not be called “President”) the SEC is wasting away into obscurity. We shouldn’t be surprised. Biden appointed an ex-Goldman banker in the middle of the pandemic, and Gensler has been every bit as impactful as “The President”.

Yet this guy seems to get away with spreading the FUD on CNBC all the time and gets nothing done to him by the SEC.

Imagine if he did pump up a memecoin such as pepe on his show then it immediately dumped the next day.
Gensler wouldn't do a damned thing to him since he is a corporate sockpuppet to the exact same organization:
The Government!

Luckily those who are smart enough have refrained from listening to such rubbish from a so called expert on the markets and use the Inverse Kramer algorithm instead:

https://twitter.com/legen_eth/status/1592186979420377088

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Good, I would like to see more things like this.
All of these altcoins & tokens have cost people a fortune while the influncers and promoters and creators walk away with the profits.

In a bubble it's fine since people who are stupid enough to invest in things like this are the same people that will pay a 200% premium for the rare gold coins that only they can buy that they saw advertised on TV
Or it's the same people who buy the 'trump bucks' and then go to the bank and try to redeem them to find out they are worthless.

BUT.....

As the great Agent K said "A person is smart. People are dumb, panicky, dangerous animals"
A PERSON knows that a scam coin or token is not BTC or even crypto in general.
PEOPLE dump all of that together and it hurts the legitimate crypto world.
So yeah, nail these people to the wall.

-Dave

Great comment (always loved that quote from MIB).

In another thread I tried to explain now good, rational regulations that protect consumers is a good thing for the market. People need to remember what the FTX meltdown did to the price of Bitcoin before they scoff at regulations and crime enforcement like this. I don't think Bitcoin, as a popular mainstream investment, could even survive another FTX fiasco. It could turn investors away from all digital currencies for years.

And as a small business owner in the digital currency space (and at Haypenny we emphasize the small in small business ), I welcome rules that are written down that we can follow that will ensure consumers that we are on their side. I would be fine being a "licensed digital currency platform" for instance, that dictated we follow rules similar to what banks follow (we are preparing our company for ISO 27001 compliance for instance, which is what banks follow). We have gone to great lengths (and will go further still) to make sure our system is secure and our platform is fair to all participants. I wouldn't mind seeing some elements of our Promise put into regulations--they are common sense, if you ask me.

Good, I would like to see more things like this.

US-based cryptocurrency exchange Coinbase has challenged the SEC’s refusal to grant access to its chairman, Gary Gensler, ‘s private emails.

In a letter addressed to District Court Judge Katherine Polk Failla, Coinbase contended that Gensler’s communications are crucial for building its defense in the lawsuit.

The crypto exchange argued that the documents are relevant in understanding the SEC’s stance on digital assets regulation.

It also noted that the exchange’s move is an “improper intrusion” of Gensler’s private life

Coinbase claims the SEC chair had made several public and private comments regarding digital assets’ regulatory status in his lectures, speeches, and emails.

In addition, Coinbase’s defense team says Gensler’s commentary on digital assets before and during his tenure as SEC chair are of equal importance in the case.

Well duh. Of course talking smack about other cryptos is well within the law, but that doesn't mean we have to necessarily like it.

Gary strikes me as a chairman who can't really do anything but talk, though. The mostly-talk, less-action type. We still have a rampant problem with crypto scams, and exchanges are abandoning the US because the laws to operate legally there are too complicated.

"We do everything within the law."
Alright, in your own point of view. There's obviously some attacks that doesn't look right because he keeps on digging against them even though it's clear that there's nothing harm that was done.

Those who are social media influencers should surely be responsible in how they portrait any cryptocurrency they are promoting.

Just look what happened recently with the one known to be in a relationship with the Kardashian's what feels like a whole other lifetime ago:

Caitlyn Jenner falls victim to cryptocurrency exit scam

https://crypto.news/caitlyn-jenner-falls-victim-to-cryptocurrency-exit-scam

Seems that someone used them to launch a memecoin in their name without their consent on the Solana network:
https://decrypt.co/232565/crypto-promoter-who-launched-caitlyn-jenner-solana-meme-coin

The SEC has closed its investigation into Ethereum, deciding not to pursue charges that ETH sales were securities transactions.
The XRP community is outraged, accusing the SEC of double standards and biased treatment.

Consensys announced on Tuesday that the SEC’s Enforcement Division has concluded its investigation into Ethereum 2.0 without bringing any charges. The company shared the news on Twitter, highlighting that the SEC would not pursue allegations that sales of ETH constituted securities transactions. This development follows the SEC’s approval of Ethereum spot ETFs last month, a move that Consensys argued underscored ETH’s status as a commodity rather than a security.

The billionaire investor also intimated that any political aspirations Gensler had would amount to nothing due to the SEC chair’s stance against cryptocurrency.

At the time, he said that crypto voters “will be heard this election,” referring to the 2024 U.S. presidential election. He also warned that “If Joe Biden loses, there is a good chance you will be able to thank Gary Gensler and the New York SEC.”

I don't know what the US government are trying to proof out with all these they are doing concerning crypto regulations and I don't see it all working, how can a person make promotions and the next you do is to issue a charge against her because she's not disclosing more informations concerning the deal she had with them to the public, now it's just simple to know that they have also collected their own share of the money since they make a charge against her, had it been she's not a celebrity, what could have happened.