"Bitcoin, Ether, Litecoin, and Bitcoin Cash! Why did I name those four? They're not securities." - Gary Gensler in 2018.
It's intriguing how the perception of someone like Gary Gensler can change over the years. It's even more concerning when the same person seems to have a dual personality - one as a MIT professor who firmly believed that Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are not securities, and that 3/4 of the market is not composed of securities.
And then, there's the other Gary, the current chairman of the United States Securities and Exchange Commission (SEC), who embraced a war against the cryptocurrency industry, viewing everything in the ecosystem as security and subjecting it to scrutiny by the Commission. It seems like we have a case of a dual personality when it comes to Gary Gensler - one who believes that the market is mostly non-security and another who has an agenda to destroy the cryptocurrency ecosystem.
The media space is always active, and over the years, it has collected videos and other materials that can be consulted to understand what really goes on in the mind of the leader of the world's largest securities agency, the SEC. It becomes evident that he has a hidden agenda and specific targets in forums that do not reflect well on him as a public servant. After all, if he works for consumers, why does he want to destroy something in which they have invested their life savings?
Gary Gensler is a peculiar (and possibly corrupt) man and should be removed from his position as chairman of the United States Securities and Exchange Commission because there is substantial evidence that he is not consistent with what he says. Just analyzing videos of his past lectures shows that he is not genuine but rather a puppet being used for undisclosed purposes by himself and his employer.
It seems that the American system is severely corrupted with tedious policies, raising many questions. For instance, the SEC has its own agenda that does not prioritize consumer protection at any moment. The courts are also involved with arbitrary decisions (largely due to the actions of the federal American government) that confuse ordinary citizens and investors who entrusted their money to platforms like Sam Bankman-Fried's FTX, which recently saw criminal charges dropped. After all, he financed dozens of political campaigns with misappropriated customer funds.
Who is the true criminal here? If Gary Gensler were genuinely honest and fighting for the defense of the American consumer, he wouldn't be pursuing cases like SBF's, where he deliberately financed campaigns of American politicians with stolen customer money. Instead, he is going after cryptocurrency businesses...
There is a need for intervention from higher instances here. The real criminals hold untouchable positions and are appointed by the country's president. Where can the investing citizens go to seek justice and see returns on their investments? Something smells very fishy, and one of the biggest culprits is Gary Gensler and his associates, who act as puppets at the expense of the truth and consumer interests.
Urgent action must be taken, or else more SBFs will come forward, protected by politicians, and they will continue to ruin investors' money because they know they will get away with it. After all, they have the support of the world's largest gang - the political class.
And you, dear reader, what do you think about Gary Gensler and the behavior he has shown since assuming the role of chairman of the United States Securities and Exchange Commission? Remember, your opinion matters, so leave a comment below, and together, let's discuss today's topic.
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