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Ex-SEC Chair Gary Gensler privately supported crypto

Gary Gensler, former SEC Chair from 2021 to January 20, 2025, displayed both public hostility and private support to crypto during his tenure and afterward at MIT.
Patrick McHenry revealed on May 13 that Gensler's stance shifted drastically when he became SEC Chair, with his public opposition possibly shaped by Senate and confirmation politics.
McHenry described private talks with Gensler as initially reasonable but frequently contradictory, with Gensler acknowledging crypto value and blockchain potential but later rejecting prior agreements.
Under Gensler's leadership, the SEC adopted an aggressive regulatory approach, launching over 100 enforcement actions, prompting crypto firms like Coinbase and Gemini to cut ties with related law firms or MIT graduates.
This complex legacy implies that although Gensler helped develop crypto concepts academically, his regulatory tenure caused significant industry scrutiny and tension that continue to influence crypto policy debates.

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