Crazy thought of the day:

What if Gensler was actually GOOD for crypto?

He certainly seemed like a villain, but:

- He refused to make clear rules that could have sent the industry irreversibly down a bad path, and instead just made things frustrating and slowed the industry’s growth for 4 years

- He pursued scattered enforcement actions on specious legal theories that were repeatedly struck down in court, laying the groundwork for meaningful reform in securities law and market regulation

- Without him, we wouldn’t have seen the industry rally as a potent political force, Selkis wouldn’t have gone Super Saiyan, and Trump wouldn’t have fully embraced crypto as a campaign strategy, leading to the most ungodly bullish setup the industry has ever seen

Maybe Gensler was our Severus Snape?

Great for traders who were able to buy the dip on orgs that survived.

For builders on teams that needed venture capital and an open investment market he was awful.