SEC Chair Gary Gensler joins ‘Squawk Box’ to discuss what crypto exchange FTX’s fallout means for potential crypto regulation and investors. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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38 Comments
I had some hopes with Gary Gensler's appointment… but he's so far been a dud!
Gensler is useless
NYKNYC
Bitcoin not crypto.
Gensler needs to be replaced by someone far more forward thinking. It is time to do the actual work and get compliance on these assets ASAP.
Its very hard to regulate something new and unknown.
But thats why its super risky to invest in something that is “unknown”
We dont know the risks of crypto. We dont know how financial institutions are going to utilize these unknown products or account for them. FTX failed because an asset on their balance sheet that was being accounted for as “cash” wasnt cash, and was found to be highly volatile and when its value plummeted, so to did the companies ability to liquidate and be able to pay out the customers reserves.
Gaaaaaaarrrrrrryyyyyyyy
Gary is a clown. Blablal. Shame.
Absolutely disgusting watching the corruption in the US which Gary Genslaer is at the heart of it. A mam with as much quality to him as a Chinese toy and can be bought for a packet of crisp.
It’s a joke with the laws are clear! There are not clear GARRRRY! Stop saying it’s clear which is not clear, GARRRRRRRY!
this is ridiculous when he asks people to 'come in', does he really expect 20,000 crypto projects to come in?? There are no regulations in the crypto sphere, period! Centralized exchanges need regulation, decentralized exchanges don't need. There should be a fiat stablecoin backed by governments to stop these kinds of fiascos that started with luna.
his hands are shaking
Buyer beware listen to Crispian St.
Peters' song Pied Piper before get-
ting involved in anything even remotely esoteric like crypto that
has no actual fundamental value
don't get caught up in FOMO
Well what the SEC will need is a big weapon to stop this from happening.
Luckily Auditchain is there! Because #WeNeedAuditchain and man the SEC needs it badly!
Say hi to us Gary, we can help!
Yours,
Auditchain Gladiators
SEC can focus on real investments and not worry about fools.
Today is one of those days where inflacion comes down 0.5% but investors forget we are almost 10% up 🥴
#WeNeedAuditchain
SEC has been in a lawsuit against XRP/Ripple since 2020, yet allows the actual bad players to continue until this happens. Do something already.
https://en.wikipedia.org/wiki/Gary_Gensler
"Trust because you are willing to accept the risk, not because it's safe or certain." __Anonymous
"It's one tribe and you are not in it!"
I'm gonna start a new exchange. Mine's gonna be different. Really! I promise! Trust me! 🤞
Most of the comments want regulations of crypto.
Most crypto users are trying to avoid taxes.
So, let's use tax payer money to regulate it.
If it's not backed by real assets, or back stopped by federal government, it's hope, and it's worthless.
My 👀 are clearly focused on the ongoing depression.
Gensler failed. He did not regulate anything. They went after the small criminals, while they had in-person meetings with Madoff level criminals.
It's your job, Mr. Gensler, to force transparency on these companies through regulation. But you keep sitting on your hands. Shame on you!!
Gary is such a 🤡 its clear, its clear , its clear no nothing is clear … go stand outside casinos and places selling lotto ticket seems way more likely to lose money there than in crypto… gary hates this space because he cant be involved in it do to his job … you are destroying people future opportunities, burn in hell gary
Remember this, Bitcoin IS NOT crypto. Crypto is a scam, Bitcoin is digital, transferrable, immutable gold.
He’s a crook. They are the criminals. This runs deep.
If he is so pro regulation, where is the approved, regulated Bitcoin ETF??? Every application has been denied
wtf, did this idiot just say they are "largely non-compliant"…..SEC are as worthless as worthless gets, also Caveat Emptor imo…
We don’t have regulations….
There is no crypto laws
Congres has not made any laws
Tottaly inter connected.. 30 million donation to Democrats.. Poor voters and
Crypto customers.. 😄 why did Fed and Sec did not revoke FTX trading license when checking balance sheet and liquidity issue.. I lost money in EOS coin since the CEO of blockone ran with ICO money nearly 4 billion dollars ans started his own exchange and Fed security approved that excahnge to store stolen ICO money and no investigation on ICO theft.. Where is the consumer protection..?
gary gensler is the definition of a lizard
This guy has intentionally (and probably sadistically) not entered crypto to regulate it and left millions of people susceptible to getting robbed. Gensler and his employer do not want crypto to succeed. Knowing the temptations of greed and the billions involved, these type of fraudulent activities are destined to happen without regulation. You will see that they will delay and delay regulations, just so these tragic events continue to happen in the hopes of killing the industry.
Gary going to jail for helping ftx sidestep laws. How you doing boss
Gensler's comments are a little all over the place and he pushes the narrative that these are risky assets. Yet, this situation had nothing to do with the asset, rather, regulating an exchange that is clearly in the scope of what his job is supposed to be. Albeit this was an international exchange. But if it's large exchange and Americans are using it, it seems to be his duty to sniff out these fraudsters and not leave it to them "to come into [his] office".