Reactions Against SEC Chairman Gensler Are Increasing!

Tensions Are Rising in the Crypto World as SEC Chairman Gensler Faces Increasing Backlash

Gary Gensler, the Chairman of the SEC, has drawn criticism from both industry players and investors due to his tough measures against the cryptocurrency sector. The latest remarks from Tyler Winklevoss, co-founder of Gemini, shed light on how deep the criticisms against Gensler have become. So, why are Gensler’s policies so controversial?

Winklevoss: “Gary Gensler Deliberately Caused Harm” 

In a social media post on November 15, Tyler Winklevoss directly targeted Gensler, calling him “an evil figure” and stating that he should never hold an influential position again. According to Winklevoss, Gensler has taken an approach aimed not at regulating the crypto sector, but at destroying it. This has resulted in thousands of jobs and billions of dollars in lost capital.

Gensler’s tenure as SEC Chairman has seen many major crypto firms facing legal battles. Giants like Binance, Coinbase, and Ripple, as well as numerous smaller companies, have been subjected to aggressive SEC enforcement actions. Winklevoss described this as the result of “a sociopathic ambition.”

Industry Criticism Grows 

Echoing Winklevoss, Joseph Lubin, CEO of Consensys, also criticized the SEC’s policies, stating that the crypto industry has long operated under a “misleading regulatory environment.” Meanwhile, Michael Saylor, the founder of MicroStrategy, emphasized that the person who replaces Gensler will play a critical role in shaping the future of the crypto industry.