Gary Gensler, former director of the SEC: “I’m proud of my management”

• Gensler claims to be proud of his management and does not regret his actions.
• John Deaton criticizes Gensler’s secret meetings with Sam Bankman-Fried and questions his investor protection narrative.
• Gensler’s mandate was marked by aggressive regulation and demands against exchanges and tokens.

Gary Gensler, former president of the United States Stock Exchange and Securities Commission (SEC)he reappeared eight months after leaving his former position to defend his controversial management at the head of the regulatory body. During an interview for the chain CNBC, He assured that he does not regret his actions and that his goal was to protect investors from the crypto sector.

In his statements, the former official insisted that most digital tokens lack foundations, with the exception of Bitcoin. According to Gensler, his policy focused on stopping the “Dangerous Assets” For small investors, stating that “For everyday investors, 5% to 10% of Americans who invest in crypto, is a highly speculative and very risky asset.”

The lawyer John Deaton, known for his support for Ripple Labs already XRP, He publicly questioned this narrative. He maintains that Gensler held secret meetings with Sam Bankman-Fried (SBF), the founder of Ftx, and that the latter had privileged access to regulators, including the Sec, the CFTC and the Congress. As indicated, the former official met with SBF in private, despite qualifying him as a “Bernie Madoff of cryptocurrencies.”

In publications in X, Deaton said SBF donated more money to Democratic party that George Soros. During the former executive’s trial, his former partner and co-executive, Caroline Ellison, declared that SBF had delivered USD $ 10,000,000 to the Biden administration to approach Gensler and other officials. In addition, Ryan Salame, another senior executive of Ftx, He declared himself guilty of making illegal contributions to political campaigns.

Deaton also quoted the leader of the majority of the United States Congress, who said that Gensler would have accepted a simplified record for cryptocurrencies that favored SBF. For the lawyer, investor protection claims were “Pure facade” and served to cover up a preferential treatment towards FTX and its founder.

Gensler and the “Application regulation”

Gensler directed the Sec Between 2021 and 2025, a period marked by an aggressive position against the crypto industry, popularly known as “Application regulation”. During his mandate, the Sec He undertook demands against the main exchanges, including Binance and Coinbaseand classified numerous tokens as values, among them XRP of Ripple

The case of XRP He officially concluded in August 2025, when both parties withdrew their appeals under the presidency of Paul Atkins, Gensler successor. The decision consolidated a 2023 ruling that determined that the currency in question in public markets is not a value, although it is in institutional sales.

Several investors accused Gensler of leading a coordinated effort with banks to close accounts of crypto companies, which was called “Operation Chokepoint 2.0”. According to the executive director of Custody bank, Caitlin Long, the operation remains active and federal banking agencies maintain tools to press the industry, despite changes in the federal administration, review Cryptopolitan.

A change of course with Paul Atkins

After the departure of Gensler, the new president of the Sec, Paul Atkins – nominated by Donald Trump – promoted a different approach, aimed at creating a clearer regulatory framework for the industry. Under his mandate, the regulator stopped automatically catalog Bitwise, Matt Hougan could “Open the market in par.”

This turn marks a significant change with respect to the Gensler era, in which the demands and coercive measures were the norm. Now, with Atkins, the Sec It seeks to build specific rules for the crypto ecosystem, which many consider a step towards the institutionalization and legitimacy of the sector.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

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