Gensler | Crypto

In a Bloomberg interview, former SEC Chair Gary Gensler reiterated that Bitcoin stands apart from thousands of other crypto tokens, which he described as “highly speculative” assets. Former US Securities and Exchange Commission Chair Gary Gensler renewed his warning to investors about the risks of cryptocurrencies, calling most of the market “highly speculative” in a new Bloomberg interview on Tuesday. He carved out Bitcoin (BTC) as comparatively closer to a commodity while stressing that most tokens don’t offer “a dividend” or “usual returns.” Gensler framed the current market backdrop as a reckoning consistent with warnings he made while in office that the global public’s fascination with cryptocurrencies doesn’t equate to fundamentals. Read more

Legal representatives for Coinbase filed a motion for a legal hearing and potential remedies after the SEC failed to comply with FOIA requests. Coinbase is escalating its dispute with US regulators over past communications involving former Securities and Exchange Commission Chair Gary Gensler. Coinbase filed a legal motion on Thursday requesting a hearing to address the SEC Office of the Inspector General’s investigation, which found that the agency deleted nearly one year’s worth of text messages from Gensler and other senior officials in “avoidable” errors. The exchange said the SEC should explain why it did not conduct a full search of agency records, including text messages from Gensler and senior SEC officials, when it requested the messages in several Freedom of Information Act (FOIA) filings from 2023 and 2024. Read more