Gensler Pro-Crypto Lecture Comes to Haunt Him

Download this before it gets removed. It's been up for some 4 years, but now it has gained some attention as illuminating the hypocrisy of Gary the Goose, and his lack of following through on any insights he might once have had.

Gary Gensler’s old pro-Algorand video ignites debate amid unregistered security claims

In the video, Gensler praised Algorand as a “great technology” and considered the possibility of integrating an Uber or Lyft-like application on its platform.

However, in the SEC’s April 17 lawsuit against cryptocurrency trading platform Bittrex, Algorand was one of six tokens accused of being an unregistered security.

Yeah, but a mere academic can mouth off all sorts of crazy ideas; now he's SEC chair and has to obey orders from above.

Here is an equally bizarre quote:

I'm in a classroom, I say the students, your children will not recognize a Federal Reserve Note. Now, I mean I'm hoping their children aren't in the kind of the drug trade or something, but I think 20 years from now, 30 years from now, I'll say most people will not recognize coins and physical notes; we've dematerialized money.

Uncomfortable chortling from the crowd. So, he admits that dollar bills are the main currency for illicit trade - not crypto?

The whole lecture is about how important FinTech is, in stark contrast to the SEC's murderous assaults on crypto.