In what could turn out to be a shocking revelation, Matt Walsh, the General Partner at Castle Island Ventures, claimed that U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler previously had a relationship with an organization that recently submitted a comment against the approval of a spot Bitcoin ETF. In the recent times, the news around Bitcoin ETF filings by top asset managers like Blackrock invoked hopes of upward movement for Bitcoin price.
Also Read: FOMC Minutes: Fed Sees “No Recession In 2023”; Bitcoin Rally Began?
Better Markets, an independent organization, argued that the SEC should disapprove the proposed rule change to allow spot ETF. The organization said the spot bitcoin markets have a history of artificially inflated trading volumes owing to manipulation. It also said in the comment:
“The concentrated nature of the spot Bitcoin market and the heavy reliance on a select group of individuals and entities to maintain its network threatens a myriad of other harms.”
Gary Gensler & Others Shared Testimonial On Better Markets
The organization’s website shows that Gensler, along with anti-crypto Senator Elizabeth Warren, shared testimonials for the website. Matt Walsh indicated that both share interests in supporting the organization. It remains to be seen if this amounts to being a breach of law. Stating that the SEC chair had met Better Markets as many as 9 times, Walsh said it is unusual for a crypto market player to gain such access. Does this mean Gensler collude with the anti-crypto leaders?
Also Read: Elon Musk Hails Vitalik Buterin’s Insights on “Community Notes”
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/did-us-secs-gary-gensler-collude-with-anti-crypto-leaders/