My personal least favorite part is him totally failing at checking any crypto companies other than annoying them and turning them all into Republican mega donors.

My theory, if you are going to shoot and make an enemy you better be sure they are going to be dead. Now no securities laws matter for crypto. He was so sloppy he lost in court. His enforcement was blunt with logical holes that didn’t apply to crypto, thus leaving an opening to lose everything.

By totally failing you mean winning almost every case he brought against them? Interesting take.

The war was completely lost. Brag about any case you want, his work was shredded the second the Dems lost.

FTX - offshore, but darlings of Washington. Scam and cause political slap back Celsius - too slow Securities laws - refused to offer guidance so all the crypto companies banded together in their legal defense XRP - lost the case Banks - just banned them from working with companies

He sued a bunch of people for offering securities, something people were already doing widely, while Coinbase was a public SEC company. They waited until after FTX embarrassed Washington. Imaginary victories. Why was Coinbase allowed to go public if it was committing securities violations.

Most of his case wins were nothing more than screaming “you are offering securities” and paying a fine, with no solution of how to avoid future violations to securities laws. The path of no way out, led all crypto owners or company owners to become republican Mega donors.

“Oh it’s Genslers job to enforce the law, he’s not a political operative.” Do we expect ancient Biden to understand strategy in crypto? Why lead your boss into making 30+ mega rich enemies and lobbyist when it was too late to kill the industry.

You seem to not make articulate or good faith points. So goodbye.

Yes the solution is to stop publicly offering unregistered securities, same as it has been since 1933.

That move was basically asking Coinbase, Gemini, and Kraken to shut down, thus, forming a cornered animal. Gary created a cornered animal willing to do anything to fight for its own survival. A false choice from the start.

Yeah why should we be sympathetic to companies whose stance was just to violate the law? I’m not.

The genie was out of the bottle. US customers were going to acquire crypto from a regulated US company or a binance or FTX scam offshore. That mentality basically meant “I hope US customers get scammed so we can support a reading of the law from 1933.”

Your last question is absurd. The SEC allowing an IPO registration is not a legal blessing of the company’s activities. It says so right on the cover of every prospectus.

Then why did he wait to harass Coinbase until after FTX blew up and not before. It was always poor reactionary political timing, his entire tenure.

“Refused to offer guidance”- register your securities or use a valid exemption is guidance. He brought and won many, many cases on this. The smug entitlement of many in the crypto world doesn’t change that.

The crypto companies arguments was there was no safe way to register anything as a security with Gensler. I’d argue they were exactly correct, I watched all those cases unfold. Once a company engaged he just sued them further. It was more logical to just not work with Gensler on any registrations

Gary shot the hostage over and over. You come into his office to register and then he just shot more hostages. There was no way to register with him, and thus, each case made Kraken, Coinbase, Gemini, all of them come to the conclusion that donating to republicans was the only way out.

There was never any new guidance, compliance rules, and barely any new updates on crypto from his entire tenure. Washington was too old to understand how to pass a crypto law. Let me tell a camel to fit through a tiny pin of a needle, the rich man is going to donate to your enemy to blow it up.

Washington did pass a crypto law this year, and it is deeply stupid.

How so? Which parts?

Only way out-how about not violating the law?

“Safe way”-maybe if you can’t put on your big boy pants and write a registration statement subject to strict liability for false statements, you shouldn’t be offering securities at all.

As for XRP, lost on one issue in the lower court and appealed (likely would have prevailed in 2d Circuit given better conflicting lower court case law); both parties dismissed appeal and settled after SEC membership changed. Not a Gensler failure.

XRP is a pre-mined shitcoin scam, avoid!! bitcoin only!

I mean, they’re all shitcoins, including Bitcoin.

Wow, found the statist. I can’t see OP’s post, I’m blocked, but bitcoin is a shitcoin huh? This is a nice troll Dave.

“Found the statist.” Wow, found the content free reply guy. BTC has been around since 2009 and is still waiting for a use case that doesn’t entail selling to greater fools.

Who helped make sure the entire crypto industry put every single dollar as a fight for their own survival to elect Donald Trump to get more favorable leadership (Gensler)

Yeah but you should see how nice his new boat is

He consistently did nothing until the frauds were too big to take down. TSLA, crypto, etc. The pain is yet to come.

Was it as bad as Garland's term as AG?

Total disaster.

I wonder if he was the "SEC staffer" that was wasting all their working hours looking at other sites lol. he really did nothing at all to enforce the law. just left the gate wide open

Yeah, not to mention launching a wide ranging re-regulatory program with zero legislative backing

hmm I just checked and the years dont match. but might as well have been him lol www.reuters.com/article/busi...

Middle letter “Elon”?

Merrick Garland would like a word

Whataboutism, but I'll allow/endorse it.