Did US SEC’s Gary Gensler Collude With Anti-Crypto Leaders?

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.

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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?

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