Gemini co-founder Tyler Winklevoss ranted about Gary Gensler’s actions against the crypto industry and blamed him for the Democrats taking a back seat in this year’s elections.
One-half of the Winklevoss twins, Tyler Winklevoss, wrote a post on X dedicated to calling the chair of the United States Securities and Exchange Commission (SEC), Gary Gensler, out. The rant channeled his feelings about the SEC’s leadership over the past few years and how Gensler has weaponized his position of power to stifle the industry’s growth.
“Let’s all be clear on one thing. @GaryGensler is evil,” he started his post with. “He should never again have a position of influence, power, or consequence.” The rant continued as Winklevoss said any place hiring Gensler after his exit from his position would be “betraying the crypto industry.”
With Trump winning the US presidential election this month, it is certain that the SEC chair would be forced to vacate his role and look for employment elsewhere. His actions against the crypto industry are no joke or secret. President-elect Donald Trump has iterated firing Gensler during his campaign cycle leading up to the election.
Tired of Undue Enforcement Action
Many crypto firms have witnessed enforcement action—a very common practice employed by the Gensler-led SEC. Executives across the board have complained that the agency does not want to work on crypto regulation but rather enforces securities laws at every turn to prevent the industry from blossoming.
“Gensler’s behavior can’t be explained away as a good faith mistake. It was entirely thought out, intentional, and purposeful to fulfill his personal, political agenda at any cost,” added Winklevoss. He continued to say that by doing so, Gensler has “nuked” the industry, the billions in capital flowing through it, jobs, livelihoods, and more.
Like many in the industry, Winklevoss believes Gensler played a crucial role in the downfall of the political party he serves—the Democratic party. With crypto becoming a hot topic in the lead-up to the elections, the Democrats barely made any mention of it, while Trump called himself the “crypto president” and stated he would make the US the “crypto capital.”
The Democrats, under Joe Biden, have prevented crypto from growing over the past few years due to legislation and Senators actively taking a stance against the asset class and industry. The SEC has embodied that through its enforcement actions.
“No amount of apology can undo the damage he has done to our industry and our country.,” Winklevoss stated about the SEC chair. “Americans have had enough of their tax dollars going towards a government that is supposed to protect them, but instead is wielded against them by politicians looking to advance their careers.”
Numerous reports from leading news agencies have mentioned Trump picking a new candidate for Gensler’s role.
