We don't like him, but without his work there would be more shame and deception

Gary Gensler: Most crypto projects will not survive

SEC Chairman Gary Gensler stated that the majority of crypto projects are doomed to failure due to fraud and manipulation.

Over the past 4 years, the agency has filed 100 lawsuits against cryptocompanies violating securities laws.

Gensler also noted that the market depends too much on the mood of traders, and many projects turn out to be speculative.