SBF Account Claims Gary Gensler Declared War on Crypto Industry and Weakened CFTC Authority

GateNews

2026-03-12 12:05:09

Gate News reports that on March 12, FTX founder SBF posted on his X account that during Gary Gensler’s tenure as SEC Chairman, he not only declared war on the crypto industry but also secretly worked with Senator Elizabeth Warren in Washington to weaken the CFTC’s authority, consolidating more regulatory power into the SEC. They also attempted to restrict crypto compliance by demanding “licenses that do not actually exist.” SBF pointed out that the SEC’s new chairman, Paul Atkins, appointed by Trump, prefers to require only licenses that are actually in existence, avoiding the power struggle of the crypto industry being caught between federal regulatory agencies.

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