The SEC missed actual fraud being committed in crypto because it had a bureaucratic hack in @GaryGensler hyper focused on implementing a political agenda set by his master @ewarren. Let’s not forget Gensler met with the Bernie Madoff of Crypto - @SBF_FTX - multiple times. SBF also met with @RepMaxineWaters, @CFTCbehnam and was allowed to testify before Congress. Why was he given such incredible access? He paid for it. Testimony at his trial proved he paid 10M to the Biden Administration (in addition to 70M to democrats in the 2022 Midterms) in order to gain access to regulators. Instead of focusing on fraud Gensler’s SEC went after @LBRYcom @Ripple @dragonchain @coinbase @krakenfx and other legit companies to pursue the agenda. After granting acceleration for Coinbase’s IPO, which required a finding that it was in the public’s best interests to do so, less than 2 years later, the same SEC declared the entire Coinbase business model illegal. One judge ruled SEC lawyers lacked faithful allegiance to the law. An appellate court ruled the SEC acted arbitrarily and capricious. A third federal judge sanctioned the SEC for intentionally lying to the Court. I can’t think of a federal agency in more need of massive reform.