Tyler Winklevoss Criticizes Former SEC Chair Gary Gensler
Tyler Winklevoss, co-founder of Gemini, criticized former SEC Chair Gary Gensler after his CNBC interview on September 18. Gensler revealed the SEC handled nearly 100 fraud cases during his time in office. He defended his strict approach to cryptocurrency, saying investor protection was his priority.
Winklevoss disagreed, saying Gensler’s policies have slowed innovation and growth in the crypto industry.
Gensler argued most crypto trading depends on hype and momentum, not strong fundamentals. He excluded Bitcoin from this view but called thousands of other tokens highly speculative.
“Investor protection remains at the core of the SEC’s mission,” Gensler said. However, many in crypto believe his rules hindered progress and created friction between regulators and innovators.
Winklevoss and Brian Quintenz Public Feud
Winklevoss is also involved in a public dispute with Brian Quintenz, former CFTC head and Trump nominee. Quintenz shared private messages from Winklevoss on X (formerly Twitter) on September 10.
- In the messages, Winklevoss criticized the Biden administration for “seven years of lawfare trophy hunting” against Gemini.
- He asked Quintenz for help to ease regulatory pressures.
- Critics called the feud personal, not policy-driven. Lee Reiners of Duke University called it a “temper tantrum” aimed at revenge.
- Quintenz is known as a pro-crypto policymaker, making the clash unexpected.
Winklevoss Remains Bullish on Bitcoin
Despite tensions, Tyler Winklevoss remains optimistic about Bitcoin’s future. In a CNBC interview last week, he predicted Bitcoin could reach $1 million if it captures gold’s market share.
“We think Bitcoin is gold 2.0,” he said. He added that mainstream adoption is still early and expects Bitcoin’s price to increase tenfold within ten years.
Winklevoss’ conflicts with regulators highlight the growing divide in U.S. crypto policy. These disputes could impact future innovation in the sector.
