SECs Gensler Criticized by Geminis Winklevoss for Devastating Crypto Sector
Key Takeaways:
- Tyler Winklevoss calls out SEC Chair Gary Gensler for his alleged damage to the crypto industry.
- Winklevoss accuses Gensler of intentionally harming the sector for political reasons.
- Speculation about Genslers resignation grows following Winklevoss comments.
Tyler Winklevoss, co-founder of the cryptocurrency exchange Gemini, has accused Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), of causing irreparable harm to the crypto industry. In a bold X post, Winklevoss criticized Gensler for his aggressive regulatory stance, claiming the damage was so severe that it could not be undone.
Winklevosss harsh words painted Gensler as a self-serving figure, alleging that his actions were not mistakes, but deliberate steps to push forward a personal and political agenda. According to Winklevoss, Genslers decisions hurt tens of thousands of jobs, destroyed billions in investment, and wreaked havoc on an entire industry.
His tweet called for a boycott of any institutions that hire or collaborate with Gensler in the future, warning that such actions would betray the crypto community.
Winklevoss Predicts Political Fallout for SEC Chief
This backlash against Gensler has reached new levels, with Winklevoss stating his actions were not only intentional but sociopathic, too. Because of that, the Gemini co-founder claimed that Gensler was ready and willing to burn a whole sector to achieve what he wanted.
He added that this had resulted in widespread damage, including the loss of livelihoods for many and a significant blow to the global crypto market. Ironically, Winklevoss pointed out, Genslers aggressive policies may have backfired, hurting not just the crypto industry but also the political party he once served.
Crypto Industrys Growing Frustration
The statement from Winklevoss puts into words a general feeling in the crypto market. Various companies and crypto-advocates have been vocal in stating their discontent with the regulating approach that the SEC has pursued, claiming it holds back innovation and growth in the space.
This latest outburst by Winklevoss just adds fuel to the fire. The future for Gensler at the helm of the SEC is not secure, with increasing pressure for change both from the crypto community and from political commentators.
While the crypto industry has continued to call for clearer regulations and fair treatment, it really remains to be seen whether Gensler will ultimately be made to answer for the supposed destruction in his wake.
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Read more: https://www.tronweekly.com/secs-gensler-criticized-by-geminis-winklevoss/
Text source: TronWeekly
