“I think a lot of these tokens will fail … I fear that in crypto… there’s going to be a lot of people hurt,” said the SEC chair. cryptocurrency $LUNA $UST terra terrausd
The chairman of the U.S. Securities and Exchange Commission , Gary Gensler, has warned that a lot of crypto tokens will fail and many crypto investors will get hurt following the collapse of terra and stablecoin terrausd .U.S. Securities and Exchange Commission Chairman Gary Gensler expressed his concerns Wednesday that more crypto investors will be harmed following the implosion of cryptocurrency terra and stablecoin terrausd .
The collapse of the two cryptocurrencies has caused grave concerns among regulators and lawmakers. U.S. Treasury Secretarycited the collapse of UST while calling for increased regulations of stablecoins last week.
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