So Gensler said again that everything beside Bitcoin is a Security. Ok, I couldn't care less about his opionion on Bitcoin but I want to see the shitcoins burn down to the ground so somehow I feel happy hearing this. Let them 🔥
Discussion
He says what ever he wants.
Gensler's statements are another way of saying everything other than Bitcoin has centralized failure points. They'll go after what they can. It's not a matter of preference or endorsement. All those other posuer projects are easily attacked, and so they will be.
Also, like anything they are going to go for low hanging fruit and try to get the most bag for their buck. Consider, for a moment, just how many shitcoins run on Etheruem.. Mother asshole indeed.
If Gensler goes after .eth, a big chunk of the so called alts are gone as well. Panic ensues, we stack cheap sats, and later all that value which was tied up in .eth's dingleberries flows back to us.