Overview
- Speaking on Bloomberg TV, the former SEC chair said thousands of tokens are speculative and volatile with tenuous fundamentals.
- He distinguished Bitcoin as an outlier that regulators often treat more like a commodity than other digital assets.
- He urged buyers to ask “what are the fundamentals, what’s underlying it” before committing money to any token.
- He observed that finance gravitates toward centralization, with ETF approvals and institutional rails pushing crypto toward traditional market behavior.
- He rejected portraying crypto policy as partisan, saying the focus is investor protection and the strength of U.S. markets.