A turd in the punchbowl? Who is Gary Gensler?

At this point, you would need to have been in a bunker or a coma for the last 24 months or so to not know who Gary Gensler is. But who is he really? What do we know about his background and his career to date that may have shaped his opinions and loyalties, leading him today to become enemy number one of crypto? We can only highlight some of these factors and then from this vantage point, edge out on the conspiracy tree, branch by branch and speculate on what could really be going on. The opinions expressed here are my own. 
As I look at his career, Gary strikes me as someone who has been nurtured by banking elites, provided with strong resume-building roles by insiders to build up the ideal candidate profile and then maneuvered into an influential role where he can deliver benefits back to his sponsors.

Gary was born into a Jewish family and spent his early career working at Goldman Sachs. He worked in the M&A group and became one of their youngest partners at age 30, going on to have financial controlling roles within the firm. This already speaks to some remarkable early success. You need to be seriously smart to get hired at Goldmans (or seriously connected or both). To make partner at 30 suggests he was either a really good M&A banker (i.e. opportunistic and rapaciously greedy) or just really well connected…or both.
Goldman’s has a long history of being a revolving door into influential Government roles (into Treasury and the various financial regulators) where selected individuals can influence peddle and deliver favourable regulatory outcomes for their former employers. Down the line, this leads to amazingly lucrative Emeritus positions back in the private sector as a reward for the favourable advocacy and the policies you deliver. The same pattern can be observed in the Defense and Pharmaceutical industries. What do they have in common? Obviously, large sums of money are involved and the potential to control domestic and foreign policy and populations. These are just different tentacles of a wealthy elite that controls everything.
Gensler has amassed a significant fortune for his troubles, which is estimated at between $50m and $100m. When you have been rewarded this well, you will no doubt do whatever you are told to do and not look to bite the hand that feeds you.


Gensler's professorship at MIT, where he taught a course on blockchain, adds an intriguing layer to his stance on crypto. Despite claiming to have an understanding of the technology, he maintains a negative position toward crypto itself and claims to have never interacted with any actual cryptocurrencies . He seems to be in that cliched camp of supporting blockchain as a valuable innovation but not crypto. This is like being a vocal supporter of the cock but not the balls and it makes no sense!

My guess is that he supports blockchain solely as a tool for use within the current financial system. For example, blockchain can improve the efficiency of bank operations and the issuance of securities. Ultimately, it is a technology that can be used to support central bank digital currencies and can deliver greater control to the existing financial system rather than allowing individuals to have greater freedom in a new disruptive paradigm.
He currently is taking a very hardline approach to crypto, claiming that virtually all cryptocurrencies are securities. This is in direct contradiction to his position when he was still at MIT, where he was saying that Bitcoin, Ethereum and Litecoin were not securities, and he was praising the utility and innovation of protocols such as Algorand. Videos of him expressing these views have recently emerged and are all over the internet.
Finally, what has also recently emerged is that Gensler approached Binance seeking an appointment as a legal advisor. He met with CZ through this process and ultimately did not get hired. No doubt CZ smelled a rat. Is his hardline against Binance partly motivated by him not getting the role? Would he have used this role to destroy Binance from within?

Questions are raised by Gensler's relationship with SBF, who seemed to enjoy preferential access with regulatory bodies, including the SEC, raising concerns about influence and motives, particularly when we consider the many political donations that SBF made. SBF shows all the signs of playing a role and being guided in his actions towards creating the maximum collateral damage to the crypto industry. Whether SBFs Jewish faith is a factor here remains to be seen or whether they are both individually playing their role on behalf of the shadows that control them both to orchestrate the takedown of crypto. Probably this is only another coincidence. Gensler also knows Caroline Ellison, the CEO of Alameda who has already pleaded guilty to multiple fraud charges related to the collapse of FTX and Alameda and is fully cooperating with authorities. Her father was the head of the Economics faculty at MIT and therefore Gary’s boss.

Whilst established crypto exchanges such as Coinbase and Binance are being sued and claim that there is no process for an organisation to register, we now hear of an exchange called Promethium getting regulatory clearance from the SEC. This company appears to be a cutout with no actual business. It’s been setup by several former regulatory employees with Chinese money and looks very suspicious. If this was a crypto ICO, it definitely would not pass the scam test and it has a very suspicious turd-like smell. Let’s see how this plays out but I personally will be steering well clear of this exchange.

Gary Gensler's alignment with Elizabeth Warren, a well-known critic of big banks and an advocate for increased regulation in general and outright war on crypto further reveals his true intentions to dismantle the crypto industry. Gary has provided substantial political donations to Warren. On the surface these two look like unlikely bedfellows. Why would the Jewish ex Goldman Sachs M&A lawyer partner with Pocahontas? (As an aside, this reference was coined by Donald Trump and refers to Warren’s insistence to be classified as a Native American faculty member, when she was at Harvard. She claims some small fraction of Native American ancestry and was not ashamed to brazenly play this card to advance her career as a diversity faculty member. What a truly awful woman!) Warren is no friend of big banks, but she is positively rabid when it comes to crypto. This looks to be a coalescence of interests where the old adage “My enemy’s enemy is my friend” is the guiding principle.

Gensler also faces accusations of market manipulation due to his alleged short positions on GameStop, AMC, and other meme and crypto-related stocks. These allegations, coupled with ongoing SEC enforcement actions, fuel skepticism about his motivations and the potential conflicts of interest within his regulatory role.

In summary, Gary Gensler's background and the various controversies surrounding his stance on cryptocurrency and his relationships raise legitimate concerns. One can only hope that the motion raised in Congress to have Gensler removed from the SEC is successful, but the chance of this happening is slim at best. Probably the best hope is that Biden (or rather the puppeteers who are responsible for this public elder-abuse spectacle) are not successful in securing a second term. This would clear the wings for a crypto friendly President such as RFK Jr or a possible to get into office. The head of SEC is an appointment by the Executive branch so we can only hope that they will be proactive in removing this turd from the punchbowl.