Ripple CEO Brad Garlinghouse revealed that the cryptocurrency-focused super PAC, Fairshake, was created in direct response to the SEC’s aggressive stance under Gary Gensler. Ripple donated $45 million to the PAC, which significantly influenced the 2024 election cycle.
Palantir’s Joe Lonsdale lauded President-elect Trump’s choice of Paul Atkins to head the SEC, contrasting Atkins’ approach with Gary Gensler’s allegedly unfair tactics towards the cryptocurrency industry. This follows a pro-crypto wave in the recent election, fueling optimism about a more favorable regulatory environment.
A recent Bybit and Block Scholes report reveals Ethereum’s impressive outperformance against Bitcoin across key metrics. This shift is attributed to positive market sentiment following the announcement of SEC Chair Gary Gensler’s departure and growing institutional interest in Ethereum.
The Securities and Exchange Commission (SEC) has announced a record-breaking $8.2 billion in financial penalties for fiscal year 2024, a 67% increase from the previous year. This surge is largely attributed to a massive settlement with Terraform Labs and reflects a tough stance on cryptocurrency regulation under Chair Gary Gensler, who is set to leave office in January.
SEC Chair Gary Gensler reiterated the importance of investor protection and transparency in the cryptocurrency market, emphasizing the need for strong regulations to prevent losses and maintain confidence. He highlighted the SEC’s role in ensuring robust financial markets and preventing the kind of market failures seen in the past.
SEC Chair Gary Gensler marked the upcoming 16th anniversary of Bitcoin’s white paper, acknowledging the cryptocurrency’s milestone while emphasizing the need for investor protection. Gensler’s comments highlight the ongoing regulatory scrutiny facing the crypto industry, particularly from the SEC.
Bradley Tusk, CEO of Tusk Ventures, has launched a scathing critique of SEC Chair Gary Gensler’s handling of cryptocurrency regulations. He argues that Gensler’s approach is stifling innovation and creating uncertainty in the crypto space. Tusk, who holds significant stakes in major crypto companies, believes a change in leadership at the SEC could be a game-changer for the industry.
Senate hopeful John Deaton, known for his support of Ripple Labs in its legal battle with the SEC, has praised the efforts of Mark Cuban and Anthony Scaramucci in speaking out against SEC Chair Gary Gensler’s stance on cryptocurrencies. Deaton, who is challenging incumbent Senator Elizabeth Warren, believes Gensler’s policies are harmful to American entrepreneurs and consumers, and he has been vocal about his opposition to the SEC’s approach to digital assets.
Anthony Scaramucci, a former White House Communications Director, expressed concerns that the SEC’s aggressive oversight of cryptocurrency platforms under Gary Gensler could negatively impact Kamala Harris’ chances in the upcoming elections. He specifically pointed to the SEC’s Wells notice to OpenSea, indicating potential legal action, as evidence of the agency’s harsh stance.
Billionaire investor Mark Cuban has accused SEC Chair Gary Gensler of trying to undermine Senator Elizabeth Warren’s career by taking actions that favor crypto proponents. Cuban’s comments follow the SEC’s recent Wells Notice to NFT marketplace OpenSea, a move that continues the agency’s scrutiny of the cryptocurrency space. Cuban, a known crypto enthusiast, has previously criticized Gensler’s approach to regulating the industry, calling it ineffective and overly restrictive.
