Yeliz Akmaca 
Former SEC Chair Gary Gensler is back in the spotlight following his comments on CNBC. Gensler shared his views on risks in the cryptocurrency market and regulatory actions, emphasizing investor protection as a priority.
Gensler’s View on Crypto and SEC Enforcement
Gary Gensler expressed pride in the SEC’s enforcement actions in the crypto space. Speaking on CNBC’s “Squawk Box,” he described most cryptocurrencies as highly speculative and risky, while noting Bitcoin stands out in this regard.
During his tenure, Gensler pursued cases against major crypto companies, including Ripple, Binance, Coinbase, and Kraken. Unlike the SEC under Paul Atkins, his administration did not retract decisions and was often criticized for not providing clear market rules. Gensler emphasized that investor protection remained the top priority, highlighting that most tokens lack intrinsic value.
- SEC enforcement actions in the crypto market
- Ripple and other major crypto lawsuits
- Focus on investor protection
Bitcoin and Token Assessment
Gensler distinguished Bitcoin from other tokens, noting most are speculative and lack a foundation. Excluding Bitcoin, there are between 5,000 and 10,000 other tokens, and the majority have no real backing. These remarks sparked speculation in the crypto community about whether Gensler is a “Bitcoin maximalist.”
Furthermore, his comments preceded key developments such as spot Bitcoin ETF approvals, reinforcing Bitcoin as a safer option for institutional and retail investors alike.
Crypto Community Reactions and Market Implications
Reactions to Gensler’s statements were mixed within the crypto community. Tyler Winklevoss criticized him, while Coinbase CEO Brian Armstrong adopted a constructive tone, highlighting the importance of clear regulations.
These remarks underscore the need for investors to carefully assess the fundamentals of most tokens and closely monitor market developments. In addition, improvements in market structure and investor protection measures are seen as steps toward greater transparency in the sector.
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