Gary Gensler's SEC sues Crypto Influncers and posts on his Twitter as propaganda

[Reid]

This sort of behavior from these celebrities who are essentially influencers due to their fans really should be banned from being able to launch these altcoins being shilled due to a connection to their name:
https://www.fxstreet.com/cryptocurrencies/news/celebrity-meme-coins-gain-attention-as-iggy-azalea-and-davido-join-the-train-with-respective-token-launches-202405300225

Yes, this is a waste of money for the people and we all know where it will all go. I want to see Gensler checking this out thoroughly and not the legitimate businesses that had been working hard to make the crypto space safer and easier.

As the great Agent K said "A person is smart. People are dumb, panicky, dangerous animals"

A PERSON knows that a scam coin or token is not BTC or even crypto in general.

PEOPLE dump all of that together and it hurts the legitimate crypto world.

So yeah, nail these people to the wall.

-Dave

Spot on. They all want the faster way to make money and yet they didn't buy Bitcoin just a few years ago. Now, they are drooling to rush everything in just 1 day to 1 month of profit.

Op-Ed: The Anti-Crypto SEC is DONE – Here Comes A Very New Brew
https://blockonomi.com/op-ed-the-anti-crypto-sec-is-done-here-comes-a-very-new-brew/

The USA had the opportunity to take pole position in the global economy by allowing the use of cryptos on even terms in its capital markets – but Gensler et al. f$%#ed it all up.

Gary Gensler was totally ineffective as a regulator.

Like many things in the world of Joe Biden (don’t fool yourself – he really should not be called “President”) the SEC is wasting away into obscurity. We shouldn’t be surprised. Biden appointed an ex-Goldman banker in the middle of the pandemic, and Gensler has been every bit as impactful as “The President”.

From day 1 he isn't effective.
Why? It's because it's not about the job, it's mostly attacks. Imagine how many businesses, memecoin (like the example above by @rdbase), and other scammy attempts that had been going on and yet they ignore them and they are too focused on businesses that are competitive with his own or the owners of where his protection is.
It won't be long, things will change.

[rohang]

Trumps VP pick - , JD Vance, once referred to SEC Chair Gary Gensler as “the worst person” to regulate crypto.

https://cointelegraph.com/news/jd-vance-trump-vp-slams-sec-gensler-crypto-regulation

However Vance also spoke against trump earlier 
Cant really trust these politicians but maybe theres a small chance its good for crypto if trump wins.... gensler fired ? 

[rdbase]

He hates him with a passion as you can see from the look he gives to Gensler infront of the senate while testifying.
Just like anybody who has held and current holders of anything to do with cryptocurrency.

https://x.com/JAN3com/status/1813352129748226511

Very valid points made by the new Vice President come November!

[rdbase]

Trump states in his speech during the Bitcoin Conference he will fire Gary Gensler from the SEC on his first day at office if elected as President of the United States in this year's election.
Well that alone should get all cryptocurrency user and bitcoiner's vote in the ballot box for him.

[Yaunfitda]

Trump states in his speech during the Bitcoin Conference he will fire Gary Gensler from the SEC on his first day at office if elected as President of the United States in this year's election.
Well that alone should get all cryptocurrency user and bitcoiner's vote in the ballot box for him.

And with that, Uncle Gary's term is up on the air after what he have heard of Trump and for a crypto point of view, he should have been fired already for all the non-sense decision SEC has been making since he become a Chairman. And I have no doubt that Trump will make this happened after he officially starts his term in January, (that is if he will win in November). And most likely Gensler is contemplating already on going on public practice again after his firing. But when we have to look back, isn't it Trump that put Jay Clayton as chair in the SEC and Clayton was the one who started all this witch hunting or crypto. i.e against Ripple,

https://coinpedia.org/news/ripple-vs-sec-unraveling-the-controversial-legacy-of-jay-claytons-last-act/

As cryptocurrency evolves, a significant legal event continues to spark debates and discussions in the crypto community. Three years ago, Jay Clayton, the then-chairman of the U.S. Securities and Exchange Commission (SEC), filed a lawsuit against Ripple, alleging that all XRP tokens constituted illegal securities.

[legiteum]

Ironically, the Republican fixation on crypto is probably greatly diminishing their chances of winning in November because they are spending all of their time pandering to about 2,000 American voters who actually care enough about this issue that it overrides everything else they care about e.g. abortion.

[Catenaccio]

Gensler career as chairman of SEC. will end if Trump gets elected as a next President of the United States and return to the White House.

Trump pledges to fire Gary Gensler is a latest news about risk on Gensler's career in next few months.

Trump is different than Biden and he fired many people in his previous president term 8 years ago and it's no surprise if he does it in his second term in the White House.

With support from the White House, Gensler did many wrong and crazy things recent years as a chairman of SEC. but now it is coming to the end.

[DaveF]

Ironically, the Republican fixation on crypto is probably greatly diminishing their chances of winning in November because they are spending all of their time pandering to about 2,000 American voters who actually care enough about this issue that it overrides everything else they care about e.g. abortion.

Beyond that there are a lot of BTC people who lost a ton of money when he was in office last time due to his policies (tariff on mining equipment, higher taxes on some earnings) and don't think he will do anything better this time.

And as you said, we are not a lot of people. And all the big miners that got hurt a lot by his policies are still against him.

-Dave

 

[rdbase]

Isn't it weird that the SEC now has dropped their lawsuits against several well known tokens as being securities all the sudden after the speech saying he will fire the head of the SEC?

Gensler has done just that with lawsuits against over 80 tokens including Solana, Cardano and Polugon just to name the more high-profile ones named in the suit against Binance:
https://cointelegraph.com/news/sec-drops-ruling-request-security-token-claims-binance-lawsuit

[DaveF]

Isn't it weird that the SEC now has dropped their lawsuits against several well known tokens as being securities all the sudden after the speech saying he will fire the head of the SEC?

Gensler has done just that with lawsuits against over 80 tokens including Solana, Cardano and Polugon just to name the more high-profile ones named in the suit against Binance:
https://cointelegraph.com/news/sec-drops-ruling-request-security-token-claims-binance-lawsuit

Did you READ what the SEC sent?

https://www.courtlistener.com/docket/67474542/253/securities-and-exchange-commission-v-binance-holdings-limited/

Can you show me where in a real documented location the SEC dropped it?

All I can find is them fighting about discovery.

-Dave

[rdbase]

Isn't it weird that the SEC now has dropped their lawsuits against several well known tokens as being securities all the sudden after the speech saying he will fire the head of the SEC?

Gensler has done just that with lawsuits against over 80 tokens including Solana, Cardano and Polugon just to name the more high-profile ones named in the suit against Binance:
https://cointelegraph.com/news/sec-drops-ruling-request-security-token-claims-binance-lawsuit

Did you READ what the SEC sent?

https://www.courtlistener.com/docket/67474542/253/securities-and-exchange-commission-v-binance-holdings-limited/

Can you show me where in a real documented location the SEC dropped it?

All I can find is them fighting about discovery.

-Dave

This is from the coindesk article where it was sourced from when announced:
"The SEC is reconsidering its stance on third-party tokens like Solana's $SOL and Polygon's $MATIC, which were initially included in its lawsuit against Binance.

These tokens, issued by companies not named in the lawsuit, are alleged to be unregistered securities.

In a recent court filing, the SEC indicated plans to amend its complaint, potentially excluding these tokens from the case.

This comes after a clarification from Judge Amy Berman Jackson, who stated that her previous ruling did not intend to remove these tokens from the allegations.

The case revolves around the classification of ten specific tokens, including $SOL, $ADA, and $MATIC, as unregistered securities. Both the SEC and the defendants, Binance and its affiliates, are awaiting the judge's decision on the matter.

The defense has expressed a desire to review the amended complaint before proceeding with discovery."
https://x.com/JakeGagain/status/1818505670179930306

They are planning to amend so it is still early on in this legal progress.
If they did it for their filings against Binance then they must do it for Coinbase aswell.
Being the corporation who is the legal holders of the countries spot ETF bitcoins.

[DaveF]

Isn't it weird that the SEC now has dropped their lawsuits against several well known tokens as being securities all the sudden after the speech saying he will fire the head of the SEC?

Gensler has done just that with lawsuits against over 80 tokens including Solana, Cardano and Polugon just to name the more high-profile ones named in the suit against Binance:
https://cointelegraph.com/news/sec-drops-ruling-request-security-token-claims-binance-lawsuit

Did you READ what the SEC sent?

https://www.courtlistener.com/docket/67474542/253/securities-and-exchange-commission-v-binance-holdings-limited/

Can you show me where in a real documented location the SEC dropped it?

All I can find is them fighting about discovery.

-Dave

This is from the coindesk article where it was sourced from when announced:
"The SEC is reconsidering its stance on third-party tokens like Solana's $SOL and Polygon's $MATIC, which were initially included in its lawsuit against Binance.

These tokens, issued by companies not named in the lawsuit, are alleged to be unregistered securities.

In a recent court filing, the SEC indicated plans to amend its complaint, potentially excluding these tokens from the case.

This comes after a clarification from Judge Amy Berman Jackson, who stated that her previous ruling did not intend to remove these tokens from the allegations.

The case revolves around the classification of ten specific tokens, including $SOL, $ADA, and $MATIC, as unregistered securities. Both the SEC and the defendants, Binance and its affiliates, are awaiting the judge's decision on the matter.

The defense has expressed a desire to review the amended complaint before proceeding with discovery."
https://x.com/JakeGagain/status/1818505670179930306

They are planning to amend so it is still early on in this legal progress.
If they did it for their filings against Binance then they must do it for Coinbase aswell.
Being the corporation who is the legal holders of the countries spot ETF bitcoins.

Sorry I didn't express what I was trying to say. I am talking about actual court documents.
That is the only thing that matters. Coindesk has put out a lot of things that have been wrong over the years and have published 'articles' that are 100% opinion.

I spend a couple of hours going through all the documents I could find on
https://www.courtlistener.com/docket/67474542/securities-and-exchange-commission-v-binance-holdings-limited/?page=1

And didn't see anything saying that the SEC was going to back off.

Going to see if I can have a lawyer I know with a PACER account upload the things that have not been bought get them and put them on Court Listener

-Dave

[Reid]

@DaveF, I think it's just an amendment.
https://cointelegraph.com/news/sec-drops-ruling-request-security-token-claims-binance-lawsuit

The United States Securities and Exchange Commission (SEC) is no longer asking a court to decide and deem the tokens named in its lawsuit against crypto exchange Binance as securities.

On July 30, the SEC filed a response to the court’s minute order on July 9, 2024. In the filing, the SEC wrote that it seeks to amend its complaint regarding the “Third Party Crypto Asset Securities” defined in its opposition to Binance’s motion to dismiss.

According to the SEC, this removes the need to “issue a ruling as to the sufficiency of the allegations as to those tokens at this time.” This means the government agency no longer asks the court to decide whether the affected tokens are securities.

I cannot get a hand of the full file of that proposal but I think that should be enough explanation of what is going to happen.

In its suit against Binance, the SEC claimed several tokens were securities.

BNB
BUSD
SOL
ADA
Matic
ATOM
SAND
MANA
AXS

These tokens are just part of a bigger list of tokens that the SEC believes to be securities. In June 2023, the SEC claimed at least 68 tokens were securities, affecting more than $100 billion worth of cryptocurrencies in the market.

The bigger question for me here is: Is Gary Gensler trying to save his ass on why he is doing this?
We know Trump said something about firing him when he wins the presidency. 

[DaveF]

It could ALSO mean that Binance and others agreed that they ARE securities.
That is the point I am making, until it's in the court documents as to what they agreed to WE DON' KNOW.

We assume, we would like and so on but until it's filed and in black and white we don't know.

As for Gensler getting fired or not he *really* does not give a shit. If he does get fired he will have an office in a consulting firm waiting for him before he makes it to the parking lot of the SEC building.

Personally, I think they are all shit - scam coins / tokens and anything that can be done to kill them is fine by me. But as I said a page or two ago:

On the #2 point yeah I think on some things the SEC is going overboard, but with obvious shit / scam coins & tokens nail them to the wall.

The issue becomes that most people who are really into crypto see things like XRP as a scam. Others believe it is better then BTC that is where a lot of the screaming about 'why is my favorite coin being attacked' come from. If the SEC made XRP disappear tomorrow I would applaud. Others would see it as an attack on 'The One True Coin'

-Dave

[rdbase]

Gensler is a weasle. We all knew this from the very start.
When he claimed to have taught a class on blockchain technology and then become head of the SEC, you would think he would understand what cryptocurrency was.
But he doesn't, at all.
Hence these frivolous lawsuits against all the above mentioned projects and more.
Which will be undeniably be thrown out of the court anyways when the judge sees he is favoring coinbase over binance for the exactly same reasons. So he might as well continue with the process of dropping the case (this was the precursor).
Only that coinbase is needing to bypass any laws put in place by his corrupt organization against any kind of crypto because they are the holder's of BlackRock Bitcoin Spot ETF clients holdings.

[Reid]

https://en.cryptonomist.ch/2024/08/06/the-sec-asks-the-new-york-court-to-deny-the-aggressive-requests-of-the-exchange-coinbase/

The SEC asks the New York court to deny the aggressive requests of the exchange Coinbase

The Securities and Exchange Commission (SEC) of the United States has just responded to the subpoena request from the exchange Coinbase, inviting the New York court to pay attention to the delicate issue.
According to the officials of the supervisory agency, the crypto exchange would have requested the review of mountains of documents useless for the purposes of the case.
Among the claims made by Coinbase, there would also be emails from Gary Gensler dating back to his period before being appointed as president.

Here is the problem. Coinbase became a vengeful business because they felt they are attacked. I won't blame them because I felt the same way at what SEC did to them. It's like all eyes are on them ever since SEC started grilling them.
But, this is the wrong path. There was even a time when they tried to request an open email of the SEC Director but that won't happen due to privacy. Don't fight fire with fire or don't fuel the fire.

XRP didn't do it this way and look what good it brought them. There's always a better path but avoid the chaotic one.

[rdbase]

Another one settled by the judge against the SEC and old man Gary loses his most prized lawsuit against cryptocurrencies being a security.
It is a win because he can't try and weasle into law it being deemed a security in the future.


https://www.coindesk.com/policy/2024/08/07/judge-fines-ripple-125m-bans-future-securities-law-violations-in-long-running-sec-case

[legiteum]

Another one settled by the judge against the SEC and old man Gary loses his most prized lawsuit against cryptocurrencies being a security.
It is a win because he can't try and weasle into law it being deemed a security in the future.

https://www.coindesk.com/policy/2024/08/07/judge-fines-ripple-125m-bans-future-securities-law-violations-in-long-running-sec-case

"Against"? Did you read that article? XRP was ordered to pay $125m.

[rdbase]

Yes, the fiend SEC's were looking for $1bln +$900mln equaling out to $1.9Billion with a capital B!

So you are saying that is not a win?!

And yes, AGAINST ALL OF CRYPTOCURRENCY.

If Trump does not win and Gary Gensler is still left as head of the SEC he will continue on because he is APPEALING the judges ruling AGAINST the SEC once again.

How is this not clear to you?

Or are you just a troll on this thread who is with what the SEC are doing?

Another one settled by the judge against the SEC and old man Gary loses his most prized lawsuit against cryptocurrencies being a security.
It is a win because he can't try and weasle into law it being deemed a security in the future.

https://www.coindesk.com/policy/2024/08/07/judge-fines-ripple-125m-bans-future-securities-law-violations-in-long-running-sec-case

"Against"? Did you read that article? XRP was ordered to pay $125m.

For somebody who is promoting for an alt-coin you would think they would be against what Gary Gensler is trying to do since it is all detrimental to their very own project.

Idiotic statement. Since once Gensler wins yet another case, his first was against Binance with CZ former CEO going to jail, he will go after the rest on his hit list.

[Reid]

^Calm down @rdbase.
I guess it's just lack of information which is why the lack of understanding what the real case is. Your blood pressure is skyrocketing. Just kidding bro.

Here's to make it clear @legiteum.

Ripple, the issuer of XRP, has long been ensconced in a legal battle with the Securities and Exchange Commission over allegations of offering an unregistered security. However, it appears to have been let off lightly by paying a penalty of $125 million.

https://www.crowdfundinsider.com/2024/08/228629-pyrrhic-victory-for-sec-ripple-pays-penalty-of-125-following-sec-action-settlement/

“The SEC asked for $2B, and the Court reduced their demand by ~94%, recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company. This is a victory for Ripple, the industry and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone.”

Actually he said it all there above and I am just sharing another article to prove what he is saying. It's not a made up number. The SEC is really asking for a higher price because they know XRP have the money.
So, is it a win or not?

Gary Gensler will keep on digging more money even if it's from a make believe. Luckily, the judge seems to know more and he won't dry Ripple after winning their case.