Gary Gensler: “Besides Bitcoin, many tokens lack fundamental value”

INFBusiness
21.09.2025
Markets

A good eight months after his departure, former SEC Chairman Gary Gensler has spoken out about the US crypto push.
On CNBC's Squawk on the Street, he lashed out at much of the industry. Specifically, he said: “Besides Bitcoin, many tokens lack fundamental value. And we have 5,000 to 10,000 of them.”
Crypto remains a high-risk asset, with many of the projects based on momentum and hype, Gensler continued.
Asked about the almost frenzied celebrations that parts of the crypto space had unleashed following Gensler's departure, he defended the SEC's tough stance against the industry under his aegis. “We've always tried to protect consumers. There have been many fraudsters—look at Sam Bankman-Fried. And he wasn't alone,” he said.
During the 67-year-old's tenure, the agency litigated numerous lawsuits against renowned crypto companies, drawing the ire of the community. This anger was also expressed in the comments below the interview: “Gensler was a terrible SEC chairman. He didn't do us any good,” wrote one viewer.
Gensler's successor, Paul Atkins, performed a complete about-face after taking office. Not only did he completely reorient the agency, he also settled several lawsuits initiated by Gensler's administration, including those involving Coinbase, Gemini, and Ripple.
In the interview, Gensler soberly acknowledged this change: “Elections have consequences, and I respect that. Of course, Chairman Atkins will take a different approach than I did,” he said.
From his position as chairman of the SEC, Gary Gensler has now moved to a professorship at MIT. There, he could also add Bitcoin to the curriculum. Read more here: Professor Gensler: The End of a Crypto Opponent?

Even if Gary Gensler considers thousands of tokens worthless, Bitcoin and established coins remain the focus of many investors. Those looking for regulated and simple investing will find a secure EU-certified crypto exchange in Bitpanda.

Recommended Video: What's happening now with Bitcoin & Altcoins – Fed decision today!