Gensler taught a blockchain class at MIT. When he was nominated the crypto universe was excited as a guy that "gets it."
Now we see he really thinks the entire space (incl BTC) is a giant scam and his agency must protect investors from themselves.
1/3
wsj.com/articles/secs-…
Now we see he really thinks the entire space (incl BTC) is a giant scam and his agency must protect investors from themselves.
1/3
wsj.com/articles/secs-…
What is going on here?
Gensler is a career bureaucrat, nothing more, nothing less.
That means he gets important positions of power and he gets to be in the room when the policy is formulated, and offer his opinion, and it will be seriously considered.
2/3
Gensler is a career bureaucrat, nothing more, nothing less.
That means he gets important positions of power and he gets to be in the room when the policy is formulated, and offer his opinion, and it will be seriously considered.
2/3
But when the policy is made (read: Yellen decides) Gensler is to prostitute to the full force of his office/reputation to sell it. And sell it like he means it!
Otherwise, they will find another bureaucrat and he can go back to MIT.
This is how Washington works.
3/3
Otherwise, they will find another bureaucrat and he can go back to MIT.
This is how Washington works.
3/3
Another career bureaucrat that got his marching orders from Yellen to prostitute his office/reputation and sell the policy to go to war against crypto. And he is doing it on the same day as Gensler.
bloomberg.com/news/articles/…
bloomberg.com/news/articles/…
See crypto prices, they are getting torched on this coordinated regulatory attack.
BTC about to break below $40k.
BTC about to break below $40k.
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