Posted

Based upon bitcoin innovation, the crypto asset class has ballooned, observes Gary Gensler, Chairman, US SEC

"Nakamoto had solved two riddles that had dogged these cryptographers and other technology experts for a couple of decades: first, how to move something of value on the internet without a central intermediary; and relatedly, how to prevent the “double-spending” of that valuable digital token. Subsequently, his innovation spurred the development of crypto assets and the underlying blockchain technology. "Based upon Nakamoto’s innovation, about a dozen years later, the crypto asset class has ballooned. As of Monday, this asset class purportedly is worth about $1.6 trillion, with 77 tokens worth at least $1 billion each and 1,600 with at least a $1 million market capitalization."- Gary Gensler, Chairman, US Securities and Exchange Commission, 'Remarks Before the Aspen Security Forum', 3 August 2021
Gary Gensler, Chairman, US SEC
(Copyright 2021 The Associated Press. All rights reserved.)

Leave a Reply

Your email address will not be published.