{"id":22602,"date":"2025-04-17T17:01:38","date_gmt":"2025-04-17T17:01:38","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22602"},"modified":"2025-04-17T17:01:38","modified_gmt":"2025-04-17T17:01:38","slug":"gary-gensler-goes-full-bitcoin-maximalist-in-first-interview-after-sec-exit","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22602","title":{"rendered":"Gary Gensler Goes Full Bitcoin Maximalist In First Interview After SEC Exit"},"content":{"rendered":"
\n

Gary Gensler has broken two months of public silence with a combustible appearance on CNBC\u2019s Squawk Box, granting his first interview since stepping down as chair of the US Securities and Exchange Commission (SEC) on 20 January. In a 17\u2011minute exchange with Andrew Ross Sorkin, the former regulator applauded Bitcoin\u2019s staying power while likening most non\u2011Bitcoin tokens to \u201csentiment\u2011driven memes.\u201d<\/p>\n

The remarks<\/a> came as the SEC, under acting chair Mark T. Uyeda,<\/a> is walking away from headline enforcement actions that defined the Gensler era. Gensler refrained from talking about individual cases, rather emphasizing that the crypto industry has no fundamentals.<\/p>\n

Gensler Embraces Bitcoin Maximalism<\/h2>\n

\u201cI\u2019m going to step back a little bit from any individual cases and just say this again to your viewing public. This is a very small part of the financial markets. But if you were interested in this, think about every financial asset sort of trades on a bit of fundamentals and sentiment. But this field is almost *99 percent \u2013 or maybe one might say 100 percent \u2013 sentiment and very little on fundamentals,\u201d Gensler said, gesturing toward the market outside Bitcoin.<\/p>\n

\u201cAnd while something like Bitcoin may persist for a long time because there\u2019s seven billion people around the globe, a real keen interest in it, there\u2019s ten\u2011 or fifteen\u2011thousand others of these tokens\u2026 and if this is just about sentiment, then generally those don\u2019t end up well and most then go down,\u201d he added.<\/p>\n

Pressed by co\u2011host Joe Kernen on whether Bitcoin should be treated differently, Gensler conceded a precious\u2011metal analogy he had long resisted while in office: \u201cI think the distinction is similar to in metals, there\u2019s only two or three precious metals. We humans have a certain fascination with two or three precious metals like gold. I don\u2019t think we humans will have a fascination with ten\u2011 or fifteen\u2011thousand meme or sentiment tokens trading over the years.\u201d<\/p>\n

The interview lands amid an unprecedented retreat by the Commission from litigation that Gensler himself had authorised. On 27 February the SEC filed a joint stipulation dismissing<\/a> its civil action against Coinbase, permanently ending the 20\u2011month fight over the exchange\u2019s alleged unregistered\u2011broker activities. Just five weeks later, staff attorneys told Kraken that the agency would abandon its 2023 securities\u2011exchange complaint \u201cwith prejudice,\u201d sparing the exchange both penalties and operational concessions.<\/p>\n

The most consequential reversal involves Ripple Labs. On 19 March, CEO Brad Garlinghouse declared victory<\/a> after learning that the SEC would withdraw its planned appeal of last year\u2019s mixed ruling on XRP sales. A joint motion filed on 11 April asks the Second Circuit to hold all appeals \u201cin abeyance,\u201d effectively closing a four\u2011year battle that once threatened to define the security status of crypto assets in US law.<\/p>\n

During his tenure, Gensler\u2019s enforcement bureau opened or expanded more than 150 crypto cases, arguing that nearly every token except Bitcoin qualified as an unregistered security. His post\u2011departure rhetoric sharpens that line rather than softening it. By praising Bitcoin\u2019s resilience while dismissing other tokens as speculative \u201csentiment,\u201d he echoed the Bitcoin\u2011maximalist thesis that only the original cryptocurrency can function as non\u2011sovereign money.<\/p>\n

At press time, BTC traded at $84,178.<\/p>\n

\"Bitcoin<\/div>\n","protected":false},"excerpt":{"rendered":"

Gary Gensler has broken two months of public silence with a combustible appearance on CNBC\u2019s Squawk Box, granting his first interview since stepping down as chair of the US Securities and Exchange Commission (SEC) on 20 January. In a 17\u2011minute exchange with Andrew Ross Sorkin, the former regulator applauded Bitcoin\u2019s staying power while likening most […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22602","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22602"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22602\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}