SEC Chair Gensler Warns a Lot of Crypto Tokens Will Fail Following LUNA, UST Collapse. The chairman of the U.
21 May 2022, 08:00
SEC Chair Gensler Warns a Lot of Crypto Tokens Will Fail Following LUNA, UST Collapse
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has warned that a lot of crypto tokens will fail and many crypto investors will get hurt following the collapse of terra (LUNA) and stablecoin terrausd (UST).
SEC Chair Gensler’s Warning After LUNA and UST CollapseU.S. Securities and Exchange Commission Chairman Gary Gensler expressed his concerns Wednesday that more crypto investors will be harmed following the implosion of cryptocurrency terra (LUNA) and stablecoin terrausd (UST).He told reporters after a House Appropriations Committee panel hearing:
I think a lot of these tokens will fail … I fear that in crypto… there’s going to be a lot of people hurt, and that will undermine some of the confidence in markets and trust in markets writ large.