Jump to content

Is It Time to Hold Gary Gensler Accountable?


Recommended Posts

XRP holders have largely held their fire so far, rightly giving Gensler plenty of time to change course at the SEC. But it seems that course change is not going to come, and that makes Gensler complicit in the SEC's shameful treatment of XRP retail investors. Remember, all the SEC has to do is to clarify that XRP today isn't a security. They can still pursue Ripple if they want to. The SEC has caused XRP retail investors to collectively lose billions of dollars - these are the very people the SEC is supposed to protect. So it's infuriating to see Gary Gensler going on his media blitz now, talking about all the great things he's supposedly doing for everyday investors. 

Link to comment
Share on other sites

GG is a waste of time - he is JC 2.0, don't waste your time on him, this needs congress to step in and that is what is happening right now. The USA is about to get its arse kicked by China if it doesn't get its act together, and real soon. This is geo-political in nature and a geo-political solution is what is needed, otherwise the USA is going to find itself left holding nothing but worthless bits of paper the rest of the world does not want.

Link to comment
Share on other sites

On 8/5/2021 at 10:08 PM, gamblin310 said:

XRP holders have largely held their fire so far, rightly giving Gensler plenty of time to change course at the SEC. But it seems that course change is not going to come, and that makes Gensler complicit in the SEC's shameful treatment of XRP retail investors. Remember, all the SEC has to do is to clarify that XRP today isn't a security. They can still pursue Ripple if they want to. The SEC has caused XRP retail investors to collectively lose billions of dollars - these are the very people the SEC is supposed to protect. So it's infuriating to see Gary Gensler going on his media blitz now, talking about all the great things he's supposedly doing for everyday investors. 

From his appearances last week in the media, he came across to me as a bit of a smug arrogant prick.

The reason I say this is because whenever anyone asked him about ethereum and whether it's a security, he smiled a super smug smile and said he's not going to answer questions about specific cryptos. He'd then say 'Oh are you gonna ask me the same question again in a different way?'

He talked about how it was obvious what tokens were securities or not, said he agreed with Jay Clayton that most tokens are securities, gave a description of a typical security, said everything is nice and clear, and yet the video of Hinman declaring ETH not a security is still on the SEC website.

If the furthest you can go down the list of cryptos by market cap with clarity is number 2, your organisation isn't doing a very good/ clear job, is it?

There was an UpOnly TV eipisode last week which was a pretty poor episode IMO because the lawyers didn't really speak too well and the questions asked of them didn't really dig into what makes something a security, There was no mention of the Ripple case or Hinman's speech either. However right at the end Cobie said something ineteresting: that the heart of blockchain finance is not trust. It's been able to transact in a trustless way. However Gensler had a quote last week saying that at the heart of finance is trust.

So maybe he doesn't really understand blockchain tech as much as he claims to.

 

Link to comment
Share on other sites

I should have paid more attention to his attitude toward crypto in the public because I guess Ripple did put a lot of hope on his nomination as the chair of SEC in the beginning.

The timing of the lawsuit is very interesting. The SEC sued Ripple right before JC who is nominated by Trump stepped down.  
 

In addition Brad Garlinghouse is reported to have made donation to Biden’s campaign last year. I could not remember how much is it. Add Bill Clinton used to give speech in conference held by Ripple. I’m not an American and does not really know how politics work in the States. But looks like it doesn’t work very well? Lol

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.