Tyler Winklevoss, co-founder of cryptocurrency exchange Gemini, has accused U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler of causing irreversible damage to the crypto industry.
“Let’s all be clear on one thing. Gary Gensler is evil,” Winklevoss stated in a Nov. 15 post on X.
“He should never again have a position of influence, power, or consequence,” he added.
Winklevoss’ remarks align with growing speculation that Gensler may resign following Donald Trump’s victory in the U.S. presidential election on Nov. 5.
Winklevoss: Gensler’s actions are deliberate
Winklevoss claimed that Gensler’s actions could not be dismissed as “good faith mistakes.”
Instead, he argued they were “entirely thought out, intentional, and purposeful to fulfill his personal, political agenda at any cost.”
During Gensler’s tenure, major crypto firms, including Binance, Coinbase, and Ripple, have faced intense legal scrutiny from the SEC.
Winklevoss accused Gensler of adopting a regulation-by-enforcement approach, disregarding the broader impact on the industry.
“Even if this meant nuking an industry, tens of thousands of jobs, people’s livelihoods, billions of invested capital, and more, ironically, his sociopathic ambition ended up torching his own political party,” Winklevoss stated.
Consensys CEO Joseph Lubin echoed similar concerns, describing the SEC’s actions as part of a “gas-lit world.”
Growing backlash against Gensler
Criticism of Gensler continues to intensify.
MicroStrategy founder Michael Saylor noted that whoever succeeds Gensler will hold the “most pivotal role” in shaping the crypto industry.
On Nov. 7, Reuters reported that Robinhood legal chief Dan Gallagher is a leading contender to replace Gensler under Trump’s administration.
In another development, 18 U.S. states, including Texas, Ohio, and Wyoming, filed a lawsuit on Nov. 14 against Gensler and the SEC, accusing the agency of “gross government overreach” against the crypto sector.
