The chairman came to the event to make a speech about SEC enforcement, and those remarks were heavily threaded with criticisms of the crypto industry that he said — in a frequently repeated phrase — is “rife with non-compliance.” When it came time to take questions, the moderator began with that topic, to which Gensler addressed how much crypto has become a consuming subject despite its relative scale.
“We have a $110 trillion capital market,” he said. “Crypto worldwide might be a trillion, but in the U.S. is less. So just by that, it’s well less than one percent of U.S. capital markets.”
In the hallway outside the event ballroom, Gensler chatted with Zeke Faux, the author of the recent book about the FTX collapse, “Number Go Up.” Faux inscribed a copy to Gensler, including a common crypto-world jibe, “Have fun staying poor.”
‘Enforcement 40’ for 2020
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