• Gary Gensler is the acting Chairman of the U.S. Securities and Exchange Commission (SEC).
• He is known for bringing greater clarity to crypto asset regulations, such as the Ripple lawsuit and digital asset staking services.
• Gensler was born in Baltimore and graduated from the Wharton School of Business with an MBA in economics.
Who Is Gary Gensler?
Gary Gensler is the acting chairman of the U.S. Securities and Exchange Commission under Joe Biden’s government. He’s most well-known in the cryptocurrency world for leading the SEC’s lawsuit against Ripple, cracking down on crypto exchange staking services, and trying to label everything as a security. All in the noble name of consumer protection, of course.
Gensler was born and raised in Baltimore, Maryland. The future chairman of the SEC was exposed to finance from an early age by his father, Sam Gensler. After graduating from high school, Gary Gensler attended the University of Pennsylvania’s Wharton School of Business and completed an undergraduate degree in economics followed by a master’s degree in business administration (MBA).
In 1979, Gensler began his tenure at Goldman Sachs where he worked through out 1980s in mergers and acquisition sector primarily advising media companies like National Football League television deal valued at $3.6 billion . He made partner at Goldman Sachs at age 30 becoming one of youngest bankers to do so; going on to become co-head of finance at firm before leaving after 18 years service there .
After 18 years with Goldman Sachs , Gary Gensler joined public service working for U.S Department Treasury Clinton Administration . During this time he served as assistant secretary domestic finance also playing role developing framework financial regulation following 2008 Global Financial Crisis . In 2009 President Obama appointed him chair Commodity Futures Trading Commission (CFTC) which he leaded until 2014 when left join faculty Massachusetts Institute Technology (MIT) teaching courses related blockchain technology & digital currencies .
Gary Gensler has had a long career both within private banking industry , public service & now leading U.S Securities Exchange Commission during Biden Administration . His work with CFTC & focus on consumer protection may have earned him villainous reputation amongst some cryptocurrency enthusiasts but it can also be seen as laying foundation for mainstream adoption digital currency & blockchain based financial services all which could benefit investors & consumers alike long term .