Jason @ 00:42:55Right
marketsgovernment
After the FTX/FTT case, the SEC under Gary Gensler will initiate additional enforcement actions and prosecutions against other crypto tokens and projects it deems to be fraudulent or unregistered securities over the next few years.
I think there will be a subsequent domino to fall, which is now that Gary Gee, head of the SEC, has FTX and the FTT tokens as the grift. He's going to go down the list of other tokens, and he is going to start doing more prosecutions of grifts in crypto.View on YouTube
Explanation
Available evidence shows that, following the FTX/FTT collapse in late 2022, the SEC under Chair Gary Gensler did launch a broad wave of additional enforcement actions against other crypto tokens, lending products, and exchanges it claimed were fraudulent or unregistered securities, over the subsequent years.
Key post‑FTX actions include:
- Genesis & Gemini (Gemini Earn) – In January 2023 the SEC charged Genesis and Gemini for the unregistered offer and sale of securities through the Gemini Earn crypto lending program, explicitly framing it as part of an ongoing crackdown on crypto lending platforms and intermediaries. (sec.gov)
- Kraken staking program – In February 2023 the SEC charged Kraken entities for failing to register their crypto “staking‑as‑a‑service” program as a securities offering, forcing Kraken to shut the program for U.S. customers and pay $30M.(sec.gov)
- Bittrex exchange – In April 2023 the SEC charged Bittrex, its former CEO, and Bittrex Global for operating an unregistered national securities exchange, broker, and clearing agency dealing in crypto assets alleged to be securities.(sec.gov)
- Coinbase – In June 2023 the SEC charged Coinbase with operating an unregistered securities exchange, broker, and clearing agency and with conducting an unregistered securities offering via its staking‑as‑a‑service program, alleging billions in unlawful crypto‑securities trading.(sec.gov)
- Binance / BNB / BUSD / staking products – Also in June 2023 the SEC filed 13 charges against Binance, its U.S. affiliate, and founder Changpeng Zhao, including operating unregistered exchanges and the unregistered offer and sale of Binance’s own crypto assets (BNB, BUSD, lending and staking products). Gensler characterized this as another example of evasion in the crypto markets.(sec.gov)
- Further follow‑through – The SEC later announced a settlement with Genesis in 2024 over the same Earn program and brought additional crypto‑related actions (for example, against crypto‑focused bank Silvergate for misrepresentations tied to its crypto clientele), underscoring a sustained enforcement push in 2023–2024 rather than a one‑off response to FTX.(sec.gov)
These actions, launched after the FTX/FTT case and explicitly framed as part of a broader crackdown on crypto "unregistered securities" and misconduct, match the prediction that Gensler’s SEC would "go down the list of other tokens" and pursue more prosecutions of crypto "grifts" over the next few years. Therefore, the prediction is right.