Gensler notably declined to comment on specific cases, stating that “almost 99%” of the crypto field is driven by sentiment. He observed that something like Bitcoin likely will remain in focus for a long time due to its inherent appeal and interest. “If this is just about sentiment, then generally those don’t end up well, and most then go down,” he stated.
“He further compared the cryptocurrency sector to precious metals, highlighting the limited appeal of numerous tokens with fleeting value. Gensler, who approved the launch of Bitcoin ETFs in the US, remains a significant figure within the crypto space for his controversial “regulation by enforcement” approach, leading to high-profile cases against various companies.