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We just watched this interview between Gary Gensler and Jim Cramer that happened yesterday morning and boy did Jim ask Gaz some of the questions we wish we could’ve asked.
Namely: If an ETH ETF has been approved, what about a BONK ETF?
(The subtext being, now one altcoin has been approved for a spot ETF in the US, what about every other altcoin)?
And: What about Roaring Kitty? Is he manipulating markets?
(Which relates to crypto because historically when meme stocks fly, meme coins do too).
It’s well worth a watch (less than 14 mins) but if you just want to know the answers to the above, here goes.
While he skirted around the topic and didn’t answer directly, he did use much softer language than in the past when he’s called the crypto market a “scam-riddled sector, rife with hucksters and fraudsters.”
However, he couldn’t help but take a jab at the industry as a whole stating that “Crypto exchanges are doing things we would never allow this New York Stock Exchange to do,” and “[many tokens] have not given the disclosures that you not only need to make your investment decisions but also that are required by the law.”
Wrt Keith Gill (aka Roaring Kitty), Gaz skirted around this topic too.
All he had to say on the topic was that “Generally speaking, you have to make sure you don’t mislead the public, and that you don’t, in any way, do things in the markets that may be manipulative.”
He declined to say whether the SEC is currently scrutinizing Gill’s trading or online behavior.
So there you have it – Gary Gensler now officially seems not-not-pro-crypto.
