The recent saga involving Binance US and Coinbase, sparked by SEC CEO Garry Gensler, appears to be nothing more than a coordinated campaign to spread fear, uncertainty, and doubt within the crypto industry. It's disconcerting to witness such actions in a country that was once admired for its freedom and unwavering liberties.

I must admit, the situation surrounding Coinbase being sued by the SEC for selling unregistered securities after the company went public seems rather peculiar. However, what doesn't surprise me is Garry Gensler's disdain for crypto, which he openly expresses in the media.

Gensler's characterization of the entire crypto market as a haven for hackers, fraudsters, scam artists, and Ponzi schemes is completely false. While it's true that we have our fair share of criminals within this space, the crypto industry encompasses much more than that.

Let's not forget the shortcomings of the banking system, which, if anything, is equal to or worse than the crypto industry. Deutsche Bank, for instance, has been involved in money laundering activities amounting to $250 million in illicit funds. What label would you give Deutsche Bank then?

It's evident that Garry Gensler's frustration stems from not securing the advisory position he had applied for at Binance in the past. This disappointment seems to have fueled his animosity towards the entire industry. But let's face it, Garry is not someone who inspires trust, and his facial expressions match his prickly demeanor.

If Gensler claims to be so vigilant about crypto, why didn't he investigate FTX and prevent investors from losing billions? The answer is simple: SBF, the founder of FTX, sponsored political parties and knew how to manipulate the system by bribing and funding corrupt politicians who conveniently turned a blind eye to his Ponzi scheme.

And if Gensler is truly committed to protecting customers, why didn't he safeguard the interests of investors in Voyager, Genesis, and BlockFi? These platforms have caused significant turmoil among crypto investors. What did Binance US do? It provided on and off ramps for American investors and a few staking options. Hardly a cause for alarm.

Similarly, Coinbase operates in a similar manner. So where does the problem lie? It lies with Gensler himself, as he appears to be frustrated for missing out on the lucrative millions he could have pocketed as an advisor to such companies.

Organizations like the SEC, CFTC, and other regulatory bodies were never intended to serve anyone other than the establishment. It's as simple as that. They don't care about you and me. Their sole focus is lining their own pockets and those of their sponsors.

While it may be a mere speculation, I can't help but feel that the recent FUD created by the SEC was designed to allow certain whales, including financial institutions, to accumulate cheap coins before the real rally kicks in. As I mentioned in a previous thread, in my opinion, the safest position to be in the crypto market right now is on the sidelines.

If the SEC's accusations were truly substantial and supported by evidence, Garry Gensler wouldn't be taking it so personally. However, when Ripple, Coinbase, and Binance US emerge victorious from these lawsuits, brace yourself for some significant upward price movements in the market.

Thanks for your attention, Adrian