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Gensler’s Coinbase Jab; Solana Stumbles; Alexis Ohanian’s Crypto Pin

The Information | Sept. 14, 2021, 7:15 p.m.

Securities and Exchange Commission Chair Gary Gensler doubled down on his criticism of cryptocurrencies Tuesday—and then took one more dig, at Coinbase. During a hearing on oversight of the SEC with the Senate Banking Committee on Tuesday, long-time crypto critic Sen. Elizabeth Warren (D.-Mass.) asked Gensler about whether an investor can recoup financial losses in the event of a trading outage on Coinbase. Gensler’s response: the investor would be unable to turn to the SEC, and he implied that the exchange could be conducting illegal trading activity. “[Coinbase hasn’t] registered with us, even though they have dozens of tokens that may be securities,” he said. Gensler said crypto companies and exchanges should “come in and talk to us.”

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