Gary Gensler's SEC sues Crypto Influncers and posts on his Twitter as propaganda - page 4.

legiteum

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Quote from: DaveF on July 08, 2024, 08:24:25 AM

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

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.

DaveF

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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

rdbase

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Celebrities are in the Gensler's cross hairs again and this time it does seem to justified in some sense of the word.

https://www.ccn.com/news/crypto/iggy-azalea-sydney-sweeney-13m-crypto-heist

This Iggy Azalea launch of her new token MOTHER had caused controversy since the very start of it all. Where she was at the New York Stock Exchange sitting infront of their monitors and asking people on the floor if they wanted to buy her memecoin.
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

If people are getting scammed due to insider trading then that is at a whole other level. As we had seen it happen in the regular stock market trading days of Martha Stewart several years ago.
https://cryptonews.com/news/iggy-azaleas-mother-token-hit-with-insider-activity-claims-after-alleged-sahil-arora-scam.htm

Reid

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^
Yeah, I heard that one a week ago that Biden's crash can be pointed to Gensler.

Coinbase on the move again against Gensler.
https://techreport.com/crypto-news/coinbase-fights-to-access-documents-related-to-genslers-private-communication/

Quote

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.

Unethical but if you are a public servant then I think this can be done. I don't know what's Coinbase purpose on doing this but they said there's something in there that might prove something.

Quote

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

Yes, that's what I thought too.

Quote

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.

Is it? Why do I feel like Coinbase is getting desperate.
Yes, I don't like how Gensler attacks most of the cryptocurrency influencers as well as other big companies which had proven their reputation in the industry but still, digging the private e-mails is stepping out of the line.
If court agrees with this then our e-mails won't be at good security and privacy anymore. Everyone.

rdbase

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Quote from: NotATether on June 27, 2024, 02:09:59 AM

Quote from: Reid on June 26, 2024, 11:32:41 PM

"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.

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.

The video that showed him smacking down on mentioning about any cryptocurrency was amusing,
SEC Chair Gensler on Crypto and Elections

https://www.youtube.com/watch?v=KFPSP-ViZ8I

Ripple CEO Brad Garlinghouse who was one of those crypto companies Gensler was talking about they were one of the first to be hammered down hard by the SEC suing them in court spoke out about this interview:

https://cryptoslate.com/ripples-garlinghouse-says-sec-genslers-actions-could-sink-biden-in-november

Remember, today is the presidential debate and many are going to see if Trump will put crypto in a better light than the current administration who vetoed a bill against all cryptocurrency last month.

Have a thread about it here:
Bitcoin Election - Will Trump release Dread Pirate Roberts - Debate happening today!
https://bitcointalksearch.org/topic/m.64257322

NotATether

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Quote from: Reid on June 26, 2024, 11:32:41 PM

"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.

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.

Reid

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Chair of the U.S. Securities and Exchange Commission Gary Gensler sit with Bloomberg for 20 minutes to answer some deep questions.

https://www.youtube.com/watch?v=0KGpPmDJKfM
SEC’s Gensler on the 2024 Agenda

"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.

Like what one of the comments in that link said, it could've been better if the interviewer ask questions that's a bit hard hitting questions.

Annmarie: Does it feel political to you?
Gary: Well, (chuckle).
Roll Eyes

I don't know who he is looking at his left side but he takes a lot of time there. I think the helper is there whenever he pauses and can't think of an answer.

rdbase

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@gunhell16
That is how the SEC rolls and why one of their own resigned recently.
It is run crooked and by a crook called GG. Grin

SEC has failed in their attempt to drag down Ripple Labs in their case that had lasted years:

https://x.com/s_alderoty/status/1802093640082133027

And recently had lost their case against the Ethereum Foundation on having it declared a security aswell.

Their days are numbered.

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Quote from: rdbase on May 29, 2024, 05:16:02 AM

Quote from: SickDayIn on May 13, 2024, 07:48:33 AM

It's a step in the right direction for social media influencers being held accountable for shilling scams. The next part I will share is opinion, however it could be considered that these influencers and celebrities have been shilling scam products for decades, but because these are cryptocurrencies which the SEC considers securities, that is why the penalties and consequences apply.

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

That's why it's difficult when the name of a famous influencer is used with bad intentions just to cheat people and get funds from the victims. The worst part is that before the influencers found out that his name was used to scam people, millions of dollars were already obtained from various investors.

And what's worse is that his reputation and name were damaged and tarnished when he was not at all naive to what the scammers did. Your name has already been destroyed, and then there is anger among the people there because of the name that was used to scam.

Reid

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Holy mother of everything!
Who Pushed the SEC to Drop the Ethereum Lawsuit, and Why Is Gary Gensler Still Targeting Ripple (XRP)?

Quote

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.

SEC Ends Ethereum 2.0 Investigation

Quote

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.

https://www.crypto-news-flash.com/who-pushed-the-sec-to-drop-the-ethereum-lawsuit-and-why-is-gary-gensler-still-targeting-ripple-xrp/
But it has not reflected with the value of Ethereum yet.

Ripple Labs is not happy though. They have been fighting against SEC for a long time and this probably hurts the feelings of those who are supporting them.
But I think this is still a great news. Perhaps the chance for SEC dropping the cases of XRP is near too and that will be the time to celebrate.
But who knows, if it's Gary Gensler, there's uncertainty with his decisions and if he really have a beef with XRP, it will take a long time unless someone fires that guy.

Reid

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I found this today. Mark Cuban might be right about this one.

Gary Gensler could ‘literally cost Joe Biden the election’ — Mark Cuban

Quote

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

Quote

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.”

https://cointelegraph.com/news/gary-gensler-could-literally-cost-joe-biden-cryptocurrency-us-presidential-election-mark-cuban

Crypto voters will be heard. Yes, I am sure of that.
And while Gary Gensler is so busy attacking crypto influencers, big crypto trading companies, and other that have something to do with cryptocurrencies in the US it will get a bad vibes to Joe Biden.
But it is said that Biden is looking for a way to use cryptocurrencies as means for donation in his campaign. I doubt many will be offering their help.

rdbase

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Quote from: Dunamisx on June 05, 2024, 10:11:38 AM

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.

If you are solely going on the first post then i imagine you are talking about that Kardashian case which is old by now.
They had settled and she paid the fines just so to get the case closed.

But if you are talking about the latest celebrity to get intangled with the SEC for promoting cryptocurrencies then you are probably referring to this one with Iggy Azalea who was at the NYSE earlier this week trying to promote her own rendition of a memecoin:
This is Iggy Azalea Rapper, mother, OF creator, turned crypto founder Here’s the untold story behind her $200M celebrity meme coin. Full story breakdowns in this post on X:
https://x.com/PixSorcerer/status/1799285580305662194

Another one who the SEC should be considering to look at is Andrew Tate who recently has become very vocal about bitcoin and has created his own memecoin which is the crosshairs of Gensler for possible Insider Trading charges:
Andrew Tate Crypto Scammer? Bitcoin Rebound and then Dump. $MOTHER Save Us. Iggy Azalea Coin dump Insider Trading
https://www.youtube.com/live/6QIPzqP8ZG4

https://cryptoslate.com/bubblemaps-alleges-insider-trading-in-memecoins-promoted-by-andrew-tate-iggy-azalea

Dunamisx

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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.

rdbase

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The SEC and Old Gary is looking at this post and setting their sites on another network other than ethereum now!

https://x.com/blknoiz06/status/1796371778673184814

Once you get larger and get a mass following such as solana has you will eventually get targeted for regulation.

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Quote from: Casdinyard on May 13, 2024, 10:14:15 AM

~

This is also where I side with them. Keeping the cryptocurrency community clean not taking everything down.
Scams, rug pull projects, and more are happening in the crypto space and they are not seen because they are just small projects. Yet, these developers are still making a ton because they keep on pulling the plug whenever they got the money and then make another to do it over and over again.
In this case, a celebrity advertised it so it was seen. What about the victims with average investments that becomes victim of low key projects that ain't seen on the spotlight? I think SEC's actions should be on this matter and not trying to break down legitimate projects that already made their roots in the industry.

rdbase

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Quote from: SickDayIn on May 13, 2024, 07:48:33 AM

It's a step in the right direction for social media influencers being held accountable for shilling scams. The next part I will share is opinion, however it could be considered that these influencers and celebrities have been shilling scam products for decades, but because these are cryptocurrencies which the SEC considers securities, that is why the penalties and consequences apply.

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

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Quote from: rohang on May 23, 2024, 01:50:16 PM

Rumors are that after the ETH ETF decision today/tomorrow, gary will be fired

Why? Ethereum ETFs are demanded from corporations like BlackRock, Grayscale and Bitwise. Since BlackRock is involved here, Ethereum ETFs are guaranteed. I think that Gary will be fired and even worse if he doesn't approve what BlackRock wants.

Quote from: rohang on May 23, 2024, 01:50:16 PM

Expecting ETH to reach atleast 5k by monday Grin

Will it really reach 5K by Monday? Bitcoin ETFs got approved but nothing gamechanger happened after that. The whole price boosting moment was the time before SEC had to announced ETF approval, this was the moment when price was significantly going up, after the approval it stabilized. I believe that long-term, this will significantly help the price but because of Bitcoin ETF experience, I think that ETH will not reach 5K by Monday but slowly, in some weeks or months, that's guaranteed if SEC approves Ethereum ETFs.

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Quote from: Casdinyard on May 13, 2024, 10:14:15 AM

I've beard about this, and honestly I am on SEC's side, the fact of the matter is that these celebrities advertise cryptocurrencies which are downright scams, ever remember Logan Paul's Crypto Zoo scam? The progression of events had it not been for the intervention of SEC this time, is eerily similar to these.

As SickDayIn has said this is a step in the right direction when it comes to holding these celebrities accountable for shilling scam projects, many a times in the past, these guys get away with the money they bagged from the sponsorship unscathed because they are picked out by the justice system, either because it don't deem them liable of anything given the fact that they do this for a service, or because they are powerful enough to withhold justice.

Couldn't bare to see these people using their influences and power to scam people anymore, and then go out on TV to blame poor people on why they are poor. We need more of this SEC honestly, and none of the bullshit you guys have been spewing out lately.

I'm on SEC's side as well about this. But what I'm more worried about are the people who are buying some shitcoin just because someone like Kim Kardashian told them to. I just don't understand, if you are looking for an advice about investing your money, why would you even consider Kim Kardashian as an option? What type of financial knowledge is she supposed to have? Just because she's famous? And let's not forget that at the end of the day she's famous for being famous, that's it. She is the perfect example of how our society is falling apart.

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https://www.coindesk.com/policy/2024/05/23/gensler-says-stay-tuned-on-us-secs-decision-on-eth-etf/

Rumors are that after the ETH ETF decision today/tomorrow, gary will be fired

Expecting ETH to reach atleast 5k by monday Grin

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Quote from: rdbase on October 03, 2022, 09:40:48 AM

With the charging of social media influencer Kim Kardashian with promoting a crypto security to her many followers on all her socials, the SEC's head officer Gary Gensler has put a commercial comprising a couple of minutes as most cryptocurrency advocates would say a smear campaign against crypto as a whole with the likes of someone who looks like Jake Paul to prove a point.
With that point being they had successfully charged many celebrities in the past of doing the same thing Mrs. Kardashian had done on her twitter/facebook/instagram.
Those being Floyd Mayweather, DJ Khalid and Steven Segal.

source: https://www.coindesk.com/business/2022/10/03/us-sec-charges-kim-kardashian-for-promoting-ethereummax

Here is the link to this video posted on his twitter about four hours ago:
https://twitter.com/GaryGensler/status/1576897535427448832
The official tweet from SEC on this case against Kim Kardashian:
https://twitter.com/SECGov/status/1576904918413312001

source: https://www.washingtonpost.com/business/2022/10/03/sec-kardashian-crypto

Squawkbox from CNBC had been tweeting just this story several times within the last four hours (I counted 5 seperate tweets, why?!) but here is the first one that they show as "Breaking news!" Roll Eyes

https://twitter.com/SquawkCNBC/status/1576900024201609217

Great news for all of cryptocurrencies about now, huh, wouldn't you agree?
This is going to drive away mainstream investors and have an affect for the rest of the Crypto Winter that we are all in right now.

I've beard about this, and honestly I am on SEC's side, the fact of the matter is that these celebrities advertise cryptocurrencies which are downright scams, ever remember Logan Paul's Crypto Zoo scam? The progression of events had it not been for the intervention of SEC this time, is eerily similar to these.

As SickDayIn has said this is a step in the right direction when it comes to holding these celebrities accountable for shilling scam projects, many a times in the past, these guys get away with the money they bagged from the sponsorship unscathed because they are picked out by the justice system, either because it don't deem them liable of anything given the fact that they do this for a service, or because they are powerful enough to withhold justice.

Couldn't bare to see these people using their influences and power to scam people anymore, and then go out on TV to blame poor people on why they are poor. We need more of this SEC honestly, and none of the bullshit you guys have been spewing out lately.

Topic: Gary Gensler's SEC sues Crypto Influncers and posts on his Twitter as propaganda - page 4. (Read 2996 times)