Core Insights - Tyler Winklevoss, co-founder of Gemini, expressed dissatisfaction with former SEC Chair Gary Gensler's policies on cryptocurrency, particularly after Gensler's recent CNBC interview [1][5] - Gensler highlighted that during his tenure, the SEC dealt with nearly 100 fraud cases and defended his regulatory approach, emphasizing investor protection as a core mission [1][3] - Gensler characterized crypto trading as driven by momentum and hype rather than fundamentals, suggesting that many of the thousands of tokens in circulation are speculative and likely to collapse [2][3] Group 1: SEC Policies and Statements - Gensler stated that reforms achieved during his leadership included shortening the stock market settlement cycle from two days to one, enhancing market efficiency [2] - He opposed proposals to reduce corporate reporting from quarterly to semiannual, arguing that transparency is crucial for market stability and investor assessment [4] Group 2: Reactions from the Crypto Community - Winklevoss labeled Gensler as "a total disgrace to our country" in response to his defense of regulatory positions and the SEC's oversight of the crypto market [5] - Winklevoss, alongside his brother Cameron, is recognized as a significant figure in the crypto ecosystem, actively supporting pro-crypto initiatives and contributing nearly $23 million to related Political Action Committees [6][7]

Core Viewpoint - OTC Markets Group Inc. has launched the OTCID™ Basic Market, a significant upgrade aimed at enhancing transparency and disclosure standards in the over-the-counter (OTC) equities market [1][2]. Group 1: Market Structure Changes - The introduction of the OTCID™ Basic Market replaces the Pink Current Market, providing a more transparent framework for companies engaging with U.S. investors through consistent reporting [2]. - Companies on the OTCID™ Basic Market must meet specific disclosure benchmarks, including timely quarterly and annual financials, management certifications, and updated company profiles [3]. Group 2: Company Engagement and Compliance - OTC Markets Group supports companies that commit to timely and consistent disclosure, emphasizing that reliable information enhances market quality and investor confidence [4]. - A total of 1,237 securities from the U.S. and key international markets have met the OTCID requirements, demonstrating a commitment to timely disclosure and engagement with U.S. investors [4]. Group 3: Market Advancement and Downgrades - The OTCID serves as a strategic entry point for companies, with 61 companies, including Bayer AG and OMV AG, qualifying for the OTCQX Best Market since January, indicating a demand for higher visibility and governance [5]. - Companies failing to meet OTCID requirements are downgraded to the Pink Limited™ Market or the Expert Restricted Market, with the former serving as a warning for limited issuer involvement [6]. Group 4: Mission and Market Efficiency - By distinguishing between active and inactive issuers, OTC Markets Group aims to foster informed investment decisions and create a more efficient public market [7].