U.S. Regulation

Gensler Reacts as SEC Drops Ripple XRP, Coinbase Cases

Former SEC Chairman Gary Gensler spoke about the U.S. Securities and Exchange Commission (SEC) suddenly dropping its legal cases against major cryptocy companies like Ripple, Kraken, and Coinbase. This is the first time the agency has retreated so rapidly from such large enforcement actions. The SEC recently dropped its appeals in the long-running Ripple case and also withdrew lawsuits against major exchanges like Coinbase and Kraken.

In a recent interview, CNBC host Andrew Ross Sorkin pointed out how many crypto CEOs were celebrating after the cases were dropped. In response, Gensler declined to comment on individual lawsuits but offered his general perspective on the crypto market. He said, “Almost 99% of the crypto field is based on sentiment.”

He warned that assets relying purely on hype usually don’t end well, saying, “If this is just about sentiment, then, generally, those don’t end up well, and most then go down.”  Nevertheless, he admitted that Bitcoin could be an exception owing to the strong public interest. He added, “Something like Bitcoin might exist for a very long time because there is a real keen interest in it.”

Gensler compared the cryptocy market to precious metals like gold, noting that humans are typically drawn to only a few valuable assets. He expressed, “I don’t think we humans will have a fascination with 10 or 15,000 meme or sentiment tokens trading over the years,” he remarked. Although Gensler did approve the launch of Bitcoin ETFs in the U.S., boosting Bitcoin’s legitimacy among institutions, he remains a controversial figure in the crypto space due to the SEC’s strict “regulation by enforcement” approach during his tenure.
Terron Gold

Recent Posts

CoinMarketCap Buys CoinGlass to Bring Derivatives Data to 115 Million Users

CoinMarketCap has acquired crypto derivatives analytics platform CoinGlass, combining one of crypto's largest price-tracking platforms…

4 days ago

Quant QNT Surges as The Clearing House Taps Its Tech for U.S. Bank Payments

Quant's QNT token surged after The Clearing House selected Quant to power key technology behind…

4 days ago

NVIDIA Launches Open Agent Safety Platform to Keep Autonomous AI Under Control

NVIDIA has launched its Open Agent Safety Platform, a new open security framework designed to…

5 days ago

Stand With Crypto Makes First Senate Endorsements After CLARITY Act Fails to Advance

Stand With Crypto has announced its first Senate endorsements of the 2026 election cycle, backing…

6 days ago

Trump and AI Giants Sign Voluntary Safety Pact as Pressure Grows Over Rogue Agents

President Donald Trump and leaders from some of the world's largest AI and technology companies…

6 days ago

DogeOS Launches ZK Rollup to Bring DeFi and Smart Contracts to Dogecoin

Dogecoin is getting a major utility upgrade as DogeOS launches a public testnet designed to…

6 days ago