“What is the difference between Gemini and Wonderland,” I asked, and I proposed that the main answer is that “Gemini answers the phone when the SEC calls” (...) In crypto, only the honest businesses need fear the SEC. The incentives are bad." great read

“Gensler’s posture is that he should be in charge of writing the rules for crypto, but not write them.” “In crypto, only the honest businesses need fear the SEC. The incentives are bad.” Great piece by @matt_levine