BlocksInform
Check out how clueless he is in this segment with the House Financial Services Committee Chair, who tells us “I asked you this in private” and that it should be no shock he’s asking again in public. The question, is a security or commodity? Watch all 2.14 of this.
This entire opening exchange with Rep @PatrickMcHenry and Chair Gensler is worth watching in full.
Is Ether a security or no? It’s a very simple question.
“I asked you this in private. This shouldn’t be a surprise.” pic.twitter.com/DAx3fkGqSM
— Ryan Selkis ?? (@twobitidiot) April 18, 2023
He can’t answer the simplest question and Chair McHenry says (paraphrase at the end of the clip) that Gensler is sending out Wells notices left and right so he probably does know whether ETH is a security or a commodity.
Here in this clip Gensler admits 2 interesting things. First, that he’s taught multiple courses on blockchain including one called ‘Blockchain and Money’ but does not own Bitcoin or any other crypto asset. He called them highly speculative. And he never has (owned crypto that is).
Chair Gensler just testified that he taught multiple courses on crypto but has never owned or used it. How can you teach a course about something you've never owned or used? pic.twitter.com/EqDbZaIb28
— Justin Slaughter (@JBSDC) April 18, 2023
Congressman Stihl does a nice job here of showing how Gensler’s main argument on being able to regulate crypto is that he’s taught a course on it. But look at how silly this looks having taught a course and never used it. EVER. As one of the commenters in this thread says ‘Wouldn’t Gensler have a better argument if he tried to use it and could point out its flaws?’ Yes. Yes, he would.
In this clip, Gensler has to explain how the SEC did ZERO to protect retail investors from FTX.
??BREAKING!!!!! @GOPMajorityWhip TORCHING Gary Gensler and highlighting his and the SEC's complete and utter failure to protect ANY retail investors whatsoever
And lack of regulatory clarity + hostile enforcement against crypto in the US is pushing innovation offshores… pic.twitter.com/cDlt2BbUW2
— Tyler Strejilevich (@TylerSCrypto) April 18, 2023
And Rep Emmer goes into detail about the lack of regulatory clarity that you see Messari, Kraken and COINBASE complain about on Twitter all the time saying that the SEC won’t tell crypto companies what they need to do to comply. Rep Emmer continues to say ‘Remember sir, your public statements are not SEC policy’. Watch all 5.19 of the above.
Attempt to Remove Goldman Gary as SEC Chair
Rep Warren Davidson said a few days ago that he was going to introduce legislation to get rid of Gensler. He said (correctly) that his lack of clarity and clear adversarial position against crypto is driving the industry to leave the US. Here’s more on that.
1/ WOW.@warrendavidson asks directly: "Did you coordinate with @SenWarren on acceptable answers for this hearing?" Gensler refuses to answer, but is visibly shaken by the follow up.
— Ryan Selkis ?? (@twobitidiot) April 18, 2023
Numerous accounts on CryptoTwitter are saying that Gensler was visibly shaken by these questions and clear conflicts of interest. Like when, as many of you saw this morning, he praised Algorand 2 years ago and yesterday called them a security.
Gary Gensler is shaking and uncomfortable during the testimony
— whalechart (@WhaleChart) April 18, 2023
Gensler is FINALLY being taken to task for his prejudicial stance against our industry.
