SEC Chief Cautions Crypto Risks While Investors Await Bitcoin ETF Rulings
• Gary Gensler, SEC chair, warns investors again about risks of crypto investments, citing potential lack of protections, volatility, collapsed companies, and scams.
• Over 10 Bitcoin ETF applications are pending SEC approval, but Gensler continues warning about crypto risks.
• Some speculate Gensler's latest warnings signal capitulation and Bitcoin ETF approvals may be imminent.
• Crypto market participants celebrate Gensler's warnings as a sign crypto adoption is inevitable despite SEC reservations.
• The text cites over $1.7 billion in crypto stolen by scammers in 2023, though less than the $4 billion stolen in 2022.