CandleFocus FTX and 3AC would still be in business if Gensler took right approach, says Mark Cuban
2024-10-04
Author: Content Editor
Billionaire Mark Cuban criticized SEC Chairman Gary Gensler's regulatory approach, stating that it could have saved FTX and Three Arrows Capital from downfall. Cuban argued that Gensler favors enforcement actions over clear regulations, which he believes is an inefficient approach. He suggested that instead of burdensome registration processes, clear rules should be implemented to encourage responsible operations. Cuban cited Japan's crypto lending regulations as an example and mentioned that if similar standards were in place in the US, the collapses of FTX and 3AC might have been avoided. Cuban also voiced support for John Deaton, who is running for US Senate against Elizabeth Warren, stating that he believes Deaton would be better for the country and its citizens.
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