Gensler can destroy the U.S. crypto industry but he can’t kill crypto - page 3.

btc_angela

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Quote from: adaseb on June 09, 2023, 11:37:18 PM

I don’t think he will go far enough to have crypto banned in USA. The other exchanges such as Coinbase, Gemini, Cryptodotcom and Kraken will fight back. Even coinbase said they wouldn’t delist tokens unlike Binance and Robinhood.

Since he wanted to be an advisor for Binance, I think the judge will drop the case due to a conflict in interest. Of course he is going to sue the one company that refused to hire him back in the day. Why he isn’t fired yet is surprising.

Or better yet, just leave US easy as that and let the government feel what they have done to the technology itself. Yes, Gensler could destroy it, but as to what cost to the US investors? only time will tell.

And as we all know, no can stop bitcoin and crypto itself. For sure there are countries willing to embrace those exchanges that are going to left the US soil. So still a win-win for us and we are going to continue to thrive in the next coming years. Bull run is just around the corner, so let's see how big the growth will be and for sure it will be a slap to the US government if they can't stop the bull run.

adaseb

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I don’t think he will go far enough to have crypto banned in USA. The other exchanges such as Coinbase, Gemini, Cryptodotcom and Kraken will fight back. Even coinbase said they wouldn’t delist tokens unlike Binance and Robinhood.

Since he wanted to be an advisor for Binance, I think the judge will drop the case due to a conflict in interest. Of course he is going to sue the one company that refused to hire him back in the day. Why he isn’t fired yet is surprising.

mk4

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Paldo.io 🤖

Pretty much — though possible to stifle and slow down, Bitcoin and some cryptocurrency projects have brown big enough to the point that it's going to be nearly virtually impossible to kill it. It's pretty much just going to be moved to other jurisdictions. Huge misstep for the US SEC tbh.

bbc.reporter

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Similar to what I have argued before, the SEC does not take action or create regulations to protect the public or the small investors. What the SEC and the other government departments are really doing is to protect the rulers of the country, their backers who own the biggest financial institutions and the biggest companies. They only protect the interests of the people that own you.

Even if you hate crypto and view it all as a giant scam—as is suddenly fashionable—it’s very clear that it is not going anywhere. Bitcoin’s resilience is one sign of that, and another is the fact that people now own more crypto than ever. A series of surveys published today by the Wall Street Journal reveals (https://www.wsj.com/articles/cryptos-quiet-gains-ownership-climbs-despite-crash-in-prices-af76cdd6?mod=Searchresults_pos3&page=1) that the proportion of the population owning crypto has jumped from 2% to 12% in the last four years. More notable are the demographics: While only 5% of men over 60 (Gensler’s bracket) own crypto, an eye-popping 38% of men aged 20 to 40 do, while the figure is 16% for women of that age.

Gensler’s efforts to portray himself as a high-minded protector of the American people—on display in this new Journal (https://www.wsj.com/articles/secs-gary-gensler-had-crypto-in-his-sights-for-years-now-hes-suingbinance-and-coinbase-dbeb79eb?mod=Searchresults_pos11&page=1) profile—are also hard to stomach. This is a man who climbed to the top rungs of Goldman Sachs and then served as campaign chair for the ethically challenged (https://www.pbs.org/newshour/politics/ethics-clinton-foundation) Hillary Clinton. He has personal and professional ties to Sam Bankman-Fried, whose massive fraud the SEC failed to spot. The hypocrisy is even more grating given Binance’s allegation, which Gensler has yet to deny, that he arranged (https://fortune.com/crypto/2023/06/08/gary-gensler-binance-changpeng-zhao-cz-informal-advisor-sec-lawsuit/) a 2019 lunch with its CEO to pitch himself as an advisor for the company—no doubt for a lucrative fee.

Read in full https://fortune.com/crypto/2023/06/09/gensler-can-destroy-the-u-s-crypto-industry-but-he-cant-kill-crypto/

Topic: Gensler can destroy the U.S. crypto industry but he can’t kill crypto - page 3. (Read 379 times)