Prior to his public service, Gensler worked at Goldman Sachs, where he became a partner in the Mergers & Acquisition department, headed the firm’s Media Group, led fixed income & currency trading in Asia, and was co-head of Finance, responsible for the firm’s worldwide Controllers and Treasury efforts.
https://www.sec.gov/biography/gary-gensler
There is nothing good about crypto for the banks. It is 100% the competition. Their entire business model relies on crypto being unsuccessful. Thus, this charade that Gensler is somehow going to save crypto is Imo nothing more than the usual psyops that the bankers put out to convince the masses that they have an ally. Gensler is more akin to a trojan horse; but, that would require the SEC to be a crypto-friendly group in the first place.
Its only a matter of time before they strike a firm blow against a significant amount of cryptos. The CFTC continues to say that $ETH and $BTC are commodities; but, the majority of cryptos are up-in-the-air. Gensler and the SEC will eventually set their sights on the banks’ competitors. He isn’t there to work for the people. He is there to work with legislators and law enforcement on behalf of the banks. It is plainly evident in his speeches and in the classes he taught at MIT. There is an agenda.
