From WSJopinion: For months Gary Gensler claimed to have authority over crypto and warned about self-dealing at their exchanges. Why didn’t he investigate FTX, asks AllysiaFinley.
Wonder Land: The FTX founder has given effective altruism a bad name. That doesn’t mean it’s a bad idea. Images: FTX/Reuters/WSJ/Storyblocks Composite: Mark KellySecurities and Exchange Commission Chairman Gary Gensler is trying to spin the FTX blow-up as a cautionary tale about the crypto “wild West.
In September 2021, Mr. Gensler rejected major industry players’ contention that he needed congressional authorization to regulate crypto products. “We have robust authorities at the Securities and Exchange Commission and we’re going to use them,” he told the Washington Post. “We’ll also be the cop on the beat, bringing those enforcement actions.” And the commission has—but not against FTX.
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