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Gemini’s Tyler Winklevoss joins the growing chorus of crypto personalities calling out Chairman Gary Gensler of the Securities and Exchange Commission (SEC). In a Twitter/X post, the Gemini co-founder lashed out at the agency’s chief, calling him “evil.” In the same post, he shared that Gensler should not be allowed to hold any position of power, and any organization that hires Gensler should be boycotted for betraying the cryptocurrency industry. This isn’t Gensler’s first criticism on social media, notably Twitter/X. Many crypto personalities and political leaders have called on Gensler’s resignation or outright removal for his “aggressive regulatory approach” towards the crypto industry. Let’s all be clear on one thing. @GaryGensler is evil. He should never again have a position of influence, power, or consequence. Any company, university, or organization that hires or works with him post-SEC is betraying the crypto industry and should be boycotted aggressively.… — Tyler Winklevoss (@tyler) November 16, 2024 Gary Gensler: Widely Hated In The Crypto Industry Gary Gensler joined the SEC with a wealth of experience and an understanding of the entrepreneurship, in particular the crypto space. However, as many persons involved in the industry have put it, him being overtly regulatory has raised eyebrows. Gensler oversaw as the agency filed 104 enforcement actions against cryptocurrencies and related firms. His aggressiveness in regulation, however, has raised several red flags to developers and crypto enterprises, bearing negative consequences on their programs going forward. Total crypto market cap currently at $2.9 trillion. Chart: TradingView Beyond these enforcement actions, the aggressive campaign by the SEC has been very costly and time-consuming to the respondents. Reports indicate that the targeted crypto companies spent over $429 million and countless hours fighting against these legal roadblocks. With this in mind, Winklevoss joined others who criticize Gensler and call for his…

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Filed under: News - @ November 17, 2024 4:27 pm