Key Takeaways:
- Former SEC Chair Gary Gensler privately expressed support for crypto and blockchain, contrary to his public opposition.
- Patrick McHenry suggested Gensler’s hardline public stance was politically motivated and inconsistent with prior views.
- Gensler, now back at MIT, oversaw over 100 crypto-related enforcement actions during his SEC tenure.
Former Congressman Patrick McHenry revealed that ex-SEC Chair Gary Gensler privately supported crypto despite his public opposition.
Speaking on the Crypto in America podcast, McHenry said Gensler showed an appreciation for digital assets and blockchain technology during his time at MIT.
🚨SCOOP: @PatrickMcHenry reveals that former SEC chief Gary Gensler was not as anti-crypto in private as he was in public.
— Crypto In America (@CryptoAmerica_) May 14, 2025
“I think it had more to do with Senate politics, and confirmation politics.”
Full episode with the former Chair of @FinancialCmte out tomorrow AM! pic.twitter.com/BHw7pRlRKG
He even contributed to early concepts like airdrops, according to Sei Labs’ Gerald Gallagher.
However, McHenry expressed disappointment in Gensler’s dramatic shift after becoming SEC Chair in 2021.
He described Gensler’s public stance as contradictory to their private conversations, calling the change “dismaying.”
McHenry suggested political motivations, such as Senate confirmation pressures, may have shaped Gensler’s regulatory approach.
As SEC Chair, Gensler led an aggressive crackdown on crypto firms, initiating over 100 enforcement actions.
Despite initial optimism, McHenry said conversations with Gensler often began reasonably but turned inconsistent.
Since stepping down on January 20, 2025, Gensler has returned to MIT to teach fintech and AI.
The revelations highlight a stark contrast between Gensler’s private views and public actions, raising questions about the political and institutional forces behind U.S. crypto regulation.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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