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SEC Shares Blame in Memecoin Rise: Ex-CFTC Chair

Summary by The Crypto Basic

Former Commodity Futures Trading Commission Chair Chris Giancarlo asserts that the SEC shares some of the blame for the dominance of memecoins in the current market cycle. Amid the dominance of memecoins in crypto over the past year, a key question has become what is driving the rise. While the discussion has long been around the allure of the sector's high reward potential, disillusionment with the promise of altcoins, and worsening economic co…

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DiarioBitcoin

Chris Giancarlo, former president of the CFTC, holds the SEC responsible for the proliferation of memecoins

The former president of the CFTC considers that it is the fault of the SEC the proliferation of memecoins seen today in the market, this because of the restrictions placed by the agency on many altcoins. *** Chris Giancarlo accuses the SEC of slowing down the development of tokens with purpose and favoring the rise of memecoins. Changpeng Zhao also holds the SEC responsible for pushing the market towards speculative tokens. Critics are directed …

6 days ago

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