Gary Gensler Says He Made The 'Right Calls' As SEC Chair: Crypto Trades Mostly On 'Hype' And Is Risky For Everyday Investors

Core Viewpoint - Former SEC Chair Gary Gensler defended his regulatory approach to cryptocurrencies, emphasizing that it was focused on ensuring investor protection [1][2] Group 1: Gensler's Regulatory Stance - Gensler described cryptocurrencies as a "risky" asset class, primarily driven by momentum and hype, with most tokens lacking fundamental value, except for Bitcoin [2] - During his tenure, Gensler's SEC took a stringent regulatory approach, including lawsuits against major cryptocurrency platforms like Coinbase, Kraken, and Ripple Labs [3] Group 2: Current SEC Leadership - The current SEC Chair, Paul Atkins, has shifted the agency's approach, launching initiatives like "Project Crypto" to adapt to blockchain-based financial systems and collaborating with the CFTC to provide clearer industry guidelines [4] - Under Atkins, lawsuits against Coinbase and Kraken have been withdrawn, indicating a more lenient regulatory environment compared to Gensler's tenure [4]