Gary Gensler, the chair of the Securities and Exchange Commission (SEC), has fired a warned shot at the crypto industry saying that: “We need to protect crypto investors because the runway is getting shorter.”
“When you mix together a bunch of customer money and borrowing against it, investors get hurt,” says Gensler. “This is a very interconnected world in crypto with a few concentrated players. When markets turned on them, it appears that a lot of customers lost money.”
This is a breaking story. More follows.
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