Why Most Crypto Is Just Online Hype, According to Gary Gensler

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The old man, Gary Gensler, stepped away from the SEC’s high chair and into the glaring light of CNBC’s Squawk Box, where he let loose like a dust storm over the barren plains of crypto. “99% sentiment,” he muttered, as if the whole crypto world was nothing but a campfire story whispered by travelers lost in the desert. Fundamentals? Barely a whisper of a thing.

But then, there’s Bitcoin—like a stubborn oak tree standing against the wind, or maybe a gold nugget hidden in the creek bed, catching the eye of every prospector. Gensler says it’ll probably cling on “for a long time,” wrapped in the fascination of gold’s glitter and legend. The rest? Oh, they’re no more than fireflies—tokens flickering with fleeting memes and shiny feelings, destined to vanish before dawn.

He skirted the mess of dropped crypto cases with the grace of a prospector ducking cactuses, but made sure to hammer home the one rule that holds markets together—no cheating, no tall tales. Without that, the whole shebang’s just a carnival, and not the fun kind.

Even the big brains of AI are stirring the stew in trading pots, Gensler noted, but in the wild west of crypto, only tokens with some backbone will stand tall. Most are just dust in the wind, ready to blow away with the next gust of hype.

So whether you’re riding high on the crypto rollercoaster or clutching your tokens like a child with a tin can telephone, the message is plain: feelings make the market dance, but don’t expect most of those tokens to be around when the music stops. 🎢💸

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2025-04-17 07:48