Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), shared essential considerations for potential crypto investors on X (formerly Twitter). Gensler cautioned that some entities offering crypto asset investments and services might not comply with federal securities laws, potentially leaving investors without crucial information and protections. He emphasized the high volatility of crypto investments and noted that many cryptocurrencies and platforms have lost value. Gensler also warned of widespread fraudulent activities in the crypto space, such as fake coin offerings, Ponzi, and pyramid schemes.
Previously, the SEC had warned investors to be wary of FOMO (Fear of Missing Out) and to make informed investment decisions.
