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

[shield132]

Rumors are that after the ETH ETF decision today/tomorrow, gary will be fired

Why? Ethereum ETFs are demanded from corporations like BlackRock, Grayscale and Bitwise. Since BlackRock is involved here, Ethereum ETFs are guaranteed. I think that Gary will be fired and even worse if he doesn't approve what BlackRock wants.

Expecting ETH to reach atleast 5k by monday 

Will it really reach 5K by Monday? Bitcoin ETFs got approved but nothing gamechanger happened after that. The whole price boosting moment was the time before SEC had to announced ETF approval, this was the moment when price was significantly going up, after the approval it stabilized. I believe that long-term, this will significantly help the price but because of Bitcoin ETF experience, I think that ETH will not reach 5K by Monday but slowly, in some weeks or months, that's guaranteed if SEC approves Ethereum ETFs.

[rdbase]

It's a step in the right direction for social media influencers being held accountable for shilling scams. The next part I will share is opinion, however it could be considered that these influencers and celebrities have been shilling scam products for decades, but because these are cryptocurrencies which the SEC considers securities, that is why the penalties and consequences apply.

Those who are social media influencers should surely be responsible in how they portrait any cryptocurrency they are promoting.

Just look what happened recently with the one known to be in a relationship with the Kardashian's what feels like a whole other lifetime ago:

Caitlyn Jenner falls victim to cryptocurrency exit scam

https://crypto.news/caitlyn-jenner-falls-victim-to-cryptocurrency-exit-scam

Seems that someone used them to launch a memecoin in their name without their consent on the Solana network:
https://decrypt.co/232565/crypto-promoter-who-launched-caitlyn-jenner-solana-meme-coin

[Reid]

~

This is also where I side with them. Keeping the cryptocurrency community clean not taking everything down.
Scams, rug pull projects, and more are happening in the crypto space and they are not seen because they are just small projects. Yet, these developers are still making a ton because they keep on pulling the plug whenever they got the money and then make another to do it over and over again.
In this case, a celebrity advertised it so it was seen. What about the victims with average investments that becomes victim of low key projects that ain't seen on the spotlight? I think SEC's actions should be on this matter and not trying to break down legitimate projects that already  made their roots in the industry.

[rdbase]

The SEC and Old Gary is looking at this post and setting their sites on another network other than ethereum now!

https://x.com/blknoiz06/status/1796371778673184814

Once you get larger and get a mass following such as solana has you will eventually get targeted for regulation.

[Dunamisx]

I don't know what the US government are trying to proof out with all these they are doing concerning crypto regulations and I don't see it all working, how can a person make promotions and the next you do is to issue a charge against her because she's not disclosing more informations concerning the deal she had with them to the public, now it's just simple to know that they have also collected their own share of the money since they make a charge against her, had it been she's not a celebrity, what could have happened.

[rdbase]

I don't know what the US government are trying to proof out with all these they are doing concerning crypto regulations and I don't see it all working, how can a person make promotions and the next you do is to issue a charge against her because she's not disclosing more informations concerning the deal she had with them to the public, now it's just simple to know that they have also collected their own share of the money since they make a charge against her, had it been she's not a celebrity, what could have happened.

If you are solely going on the first post then i imagine you are talking about that Kardashian case which is old by now.
They had settled and she paid the fines just so to get the case closed.

But if you are talking about the latest celebrity to get intangled with the SEC for promoting cryptocurrencies then you are probably referring to this one with Iggy Azalea who was at the NYSE earlier this week trying to promote her own rendition of a memecoin:
This is Iggy Azalea Rapper, mother, OF creator, turned crypto founder Here’s the untold story behind her $200M celebrity meme coin. Full story breakdowns in this post on X:
https://x.com/PixSorcerer/status/1799285580305662194

Another one who the SEC should be considering to look at is Andrew Tate who recently has become very vocal about bitcoin and has created his own memecoin which is the crosshairs of Gensler for possible Insider Trading charges:
Andrew Tate Crypto Scammer? Bitcoin Rebound and then Dump. $MOTHER Save Us. Iggy Azalea Coin dump Insider Trading
https://www.youtube.com/live/6QIPzqP8ZG4

https://cryptoslate.com/bubblemaps-alleges-insider-trading-in-memecoins-promoted-by-andrew-tate-iggy-azalea

[Reid]

I found this today. Mark Cuban might be right about this one.

Gary Gensler could ‘literally cost Joe Biden the election’ — Mark Cuban

The billionaire investor also intimated that any political aspirations Gensler had would amount to nothing due to the SEC chair’s stance against cryptocurrency.

At the time, he said that crypto voters “will be heard this election,” referring to the 2024 U.S. presidential election. He also warned that “If Joe Biden loses, there is a good chance you will be able to thank Gary Gensler and the New York SEC.”

https://cointelegraph.com/news/gary-gensler-could-literally-cost-joe-biden-cryptocurrency-us-presidential-election-mark-cuban

Crypto voters will be heard. Yes, I am sure of that.
And while Gary Gensler is so busy attacking crypto influencers, big crypto trading companies, and other that have something to do with cryptocurrencies in the US it will get a bad vibes to Joe Biden.
But it is said that Biden is looking for a way to use cryptocurrencies as means for donation in his campaign. I doubt many will be offering their help.

[Reid]

Holy mother of everything!
Who Pushed the SEC to Drop the Ethereum Lawsuit, and Why Is Gary Gensler Still Targeting Ripple (XRP)?

The SEC has closed its investigation into Ethereum, deciding not to pursue charges that ETH sales were securities transactions.
The XRP community is outraged, accusing the SEC of double standards and biased treatment.

SEC Ends Ethereum 2.0 Investigation

Consensys announced on Tuesday that the SEC’s Enforcement Division has concluded its investigation into Ethereum 2.0 without bringing any charges. The company shared the news on Twitter, highlighting that the SEC would not pursue allegations that sales of ETH constituted securities transactions. This development follows the SEC’s approval of Ethereum spot ETFs last month, a move that Consensys argued underscored ETH’s status as a commodity rather than a security.

https://www.crypto-news-flash.com/who-pushed-the-sec-to-drop-the-ethereum-lawsuit-and-why-is-gary-gensler-still-targeting-ripple-xrp/
But it has not reflected with the value of Ethereum yet.

Ripple Labs is not happy though. They have been fighting against SEC for a long time and this probably hurts the feelings of those who are supporting them.
But I think this is still a great news. Perhaps the chance for SEC dropping the cases of XRP is near too and that will be the time to celebrate.
But who knows, if it's Gary Gensler, there's uncertainty with his decisions and if he really have a beef with XRP, it will take a long time unless someone fires that guy.

[gunhell16]

It's a step in the right direction for social media influencers being held accountable for shilling scams. The next part I will share is opinion, however it could be considered that these influencers and celebrities have been shilling scam products for decades, but because these are cryptocurrencies which the SEC considers securities, that is why the penalties and consequences apply.

Those who are social media influencers should surely be responsible in how they portrait any cryptocurrency they are promoting.

Just look what happened recently with the one known to be in a relationship with the Kardashian's what feels like a whole other lifetime ago:

Caitlyn Jenner falls victim to cryptocurrency exit scam

https://crypto.news/caitlyn-jenner-falls-victim-to-cryptocurrency-exit-scam

Seems that someone used them to launch a memecoin in their name without their consent on the Solana network:
https://decrypt.co/232565/crypto-promoter-who-launched-caitlyn-jenner-solana-meme-coin

That's why it's difficult when the name of a famous influencer is used with bad intentions just to cheat people and get funds from the victims. The worst part is that before the influencers found out that his name was used to scam people, millions of dollars were already obtained from various investors.

And what's worse is that his reputation and name were damaged and tarnished when he was not at all naive to what the scammers did. Your name has already been destroyed, and then there is anger among the people there because of the name that was used to scam.

[rdbase]

@gunhell16
That is how the SEC rolls and why one of their own resigned recently.
It is run crooked and by a crook called GG.

SEC has failed in their attempt to drag down Ripple Labs in their case that had lasted years:

https://x.com/s_alderoty/status/1802093640082133027

And recently had lost their case against the Ethereum Foundation on having it declared a security aswell.

Their days are numbered.

[Reid]

Chair of the U.S. Securities and Exchange Commission Gary Gensler sit with Bloomberg for 20 minutes to answer some deep questions.

https://www.youtube.com/watch?v=0KGpPmDJKfM
SEC’s Gensler on the 2024 Agenda

"We do everything within the law."
Alright, in your own point of view. There's obviously some attacks that doesn't look right because he keeps on digging against them even though it's clear that there's nothing harm that was done.

Like what one of the comments in that link said, it could've been better if the interviewer ask questions that's a bit hard hitting questions.

Annmarie: Does it feel political to you?
Gary: Well, (chuckle).

I don't know who he is looking at his left side but he takes a lot of time there. I think the helper is there whenever he pauses and can't think of an answer.

[NotATether]

"We do everything within the law."
Alright, in your own point of view. There's obviously some attacks that doesn't look right because he keeps on digging against them even though it's clear that there's nothing harm that was done.

Well duh. Of course talking smack about other cryptos is well within the law, but that doesn't mean we have to necessarily like it.

Gary strikes me as a chairman who can't really do anything but talk, though. The mostly-talk, less-action type. We still have a rampant problem with crypto scams, and exchanges are abandoning the US because the laws to operate legally there are too complicated.

[rdbase]

"We do everything within the law."
Alright, in your own point of view. There's obviously some attacks that doesn't look right because he keeps on digging against them even though it's clear that there's nothing harm that was done.

Well duh. Of course talking smack about other cryptos is well within the law, but that doesn't mean we have to necessarily like it.

Gary strikes me as a chairman who can't really do anything but talk, though. The mostly-talk, less-action type. We still have a rampant problem with crypto scams, and exchanges are abandoning the US because the laws to operate legally there are too complicated.

The video that showed him smacking down on mentioning about any cryptocurrency was amusing,
SEC Chair Gensler on Crypto and Elections

https://www.youtube.com/watch?v=KFPSP-ViZ8I

Ripple CEO Brad Garlinghouse who was one of those crypto companies Gensler was talking about they were one of the first to be hammered down hard by the SEC suing them in court spoke out about this interview:

https://cryptoslate.com/ripples-garlinghouse-says-sec-genslers-actions-could-sink-biden-in-november

Remember, today is the presidential debate and many are going to see if Trump will put crypto in a better light than the current administration who vetoed a bill against all cryptocurrency last month.

Have a thread about it here:
Bitcoin Election - Will Trump release Dread Pirate Roberts - Debate happening today!
https://bitcointalk.org/index.php?topic=5500995.msg64257322#msg64257322