Gary Gensler steps down as chair of Securities and Exchange Commission (SEC)

. . ahead of the change in administration. Gensler was responsible for 46 enforcement actions against cryptocurrency operations in the past year. The Commission's work led to the successful convictions of Sam Bankman-Fried and Chanpeng Zhao for fraudulent activity. He previously described cryptocurrency as an industry "rife with fraud and hucksters and grifters".

Kristin Smith, Chief Executive of the Blockchain Association said "Gary Gensler is going to go and everyone in the crypto community is incredibly excited".

Be afraid. Be sceptical and vigilant. And keep your money securely within your (non-electronic) wallet.

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swirlie · 31-35

The reason we have to steer-clear of crypto currency is because Donald Trump wants to make the USA the crypto capital of the world, which of itself means that if a 9-time bankruptcy fraud artist wants to get involved with crypto, it's because for him to win, someone else must ALWAYS lose. That's how he operates and that is also the foundational operating principle of crypto currency... someone has to lose before someone else can win.

SunshineGirl · 36-40, F

@swirlie Absolutely. Cryptocurrency very effectively encapsulates his zero sum vision of the world. But there really are very few winners in this strange new world.