Ex-SEC Chair Gary Gensler Privately Supported Crypto Despite Public Opposition

By: coinfea|2025/05/14 18:30:08

U.S. Representative Patrick McHenry says the then SEC chair, Gary Gensler, actually supported cryptocurrency behind closed doors. McHenry said during a recent podcast that Gensler’s true views were formed by political rather than personal reasoning regarding the industry. McHenry, who previously led the House Financial Services Committee, said Gensler understood the potential of digital assets but chose to act against them. He suggested that Senate politics and the need for confirmation support influenced Gensler’s public stance.SCOOP: @PatrickMcHenry reveals that former SEC chief Gary Gensler was not as anti-crypto in private as he was in public. “I think it had more to do with Senate politics, and confirmation politics.”Full episode with the former Chair of @FinancialCmte out tomorrow AM! pic.twitter.com/tj950SV0Kv— Eleanor Terrett (@EleanorTerrett) May 14, 2025McHenry highlights Gensler’s crypto knowledgeSpeaking on the Crypto of America podcast, McHenry shared that Gensler was once optimistic about crypto’s future. He credited Gensler for advancing the concept of airdrops, which helped crypto projects boost liquidity. Despite these contributions, McHenry expressed disappointment in the SEC’s aggressive enforcement actions under Gensler’s leadership.The former lawmaker said he had detailed conversations with Gensler about blockchain technology. However, he claimed Gensler later rejected those same points when speaking in public. McHenry attributed this shift to political pressure and described Gensler’s change in position as influenced by progressive ideology.He also criticized Senator Elizabeth Warren, stating that she had taken a strong anti-crypto position without understanding the underlying technology. McHenry argued that while Gensler did understand crypto, he still aligned with the same restrictive views.Criticism of SEC leadership and policy directionMcHenry said that under Gensler, the SEC became a rogue agency that often enforced rules without proper economic analysis or public input. He warned that political motivations could shape future regulations in ways that harm the digital asset industry and hinder innovation.In May 2024, McHenry accused Gensler of misleading Congress. He claimed that the SEC had internally classified Ethereum’s ether as a security before a hearing, during which Gensler declined to confirm that position. McHenry argued that the SEC’s actions lacked transparency and accountability.Gensler defends regulatory approach despite pushbackWhen Gensler was about to leave office in January 2025, he kept on defending the SEC’s position regarding crypto. Many digital assets, he said, do not adhere to already existing securities regulations, and he louded doubts over the value of some tokens. He called for caution among the investors because the market was speculative. While criticizing, Gensler signed spot Bitcoin ETFs in early 2024, including the ones from BlackRock and other asset managers. His successor, Paul Atkins, is likely to adopt a regulatory stance that favours clarity and innovation.The post Ex-SEC Chair Gary Gensler Privately Supported Crypto Despite Public Opposition first appeared on Coinfea.

Currently, most Web3 projects are still in the stage of functional fragmentation, often focusing only on a single aspect, such as IP asset tokenization, transaction functionality, or a simple incentive model. This structural dispersion has become a key bottleneck hindering the industry's scale application.

BeatSwap's approach is more integrated, integrating multiple core modules into the same system, including:

· IP authentication and on-chain registration

· Authorization-based revenue sharing mechanism

· User-engagement-driven incentive system

· Transaction and liquidity infrastructure

Through the above integration, the platform builds an end-to-end closed-loop path, allowing IP rights to complete a full cycle of "creation, use, and monetization" within the same ecosystem.

Expanding from Web3 to a broader market: Restructuring the music industry's supply-demand structure

BeatSwap is not limited to existing crypto users but is attempting to take the global music industry as a starting point, actively creating new market demand. Its core strategies include:

Exploring and incubating music creators (Artist discovery)

Building a fan community

Igniting IP-centric content consumption demand

The current global music industry is valued at around $260 billion, with over 2 billion digital music users. This means that the potential market corresponding to the tokenization and financialization of IP far exceeds the traditional crypto user base.

In this context, BeatSwap positions itself at the intersection of "real-world content demand" and "on-chain infrastructure," attempting to bridge the structural gap between content production and financial flow.

"Space" to Launch in Q2 2026: Building the Core of SocialFi

BeatSwap's upcoming core product "Space" is scheduled to launch in the second quarter of 2026. This product is defined as the SocialFi layer in the ecosystem, aiming to directly connect creators with users and achieve deep integration with other platform modules.

Key designs include:

A fan-centric interactive mechanism

Exposure and distribution logic based on $BTX staking

User paths connected to DeFi and liquidity structures

Thus, a complete user behavior loop is formed within the platform: Discovery → Participation → Consumption → Rewards → Trading

$BTX Token Mechanism: Evolving from an Incentive Tool to a Value Carrier

$BTX is designed to be a core utility asset within the ecosystem, rather than just a simple incentive token, with its value directly tied to platform activity and IP use cases.

Main features include:

· Yield distribution based on on-chain authorized actions

· Value reflection based on IP usage and user engagement dynamics

· Support for staking and DeFi participation mechanisms

· Value growth driven by ecosystem expansion

With the increased frequency of IP use, the utility and value support of $BTX will enhance simultaneously, helping alleviate the "disconnect between value and utility" issue present in traditional Web3 token models to some extent.

Accelerating Global Exchange Layout: Enhancing Liquidity and Accessibility

Currently, $BTX has been listed on several mainstream exchanges, including:

Binance Alpha

Gate

MEXC

OKX Boost

As the launch of "Space" approaches, BeatSwap is actively pursuing more exchange listings to further enhance liquidity and global accessibility, laying a foundation for future market expansion.

Beyond Web3: Aiming for a Larger-Scale Integration of Content and Finance Markets

BeatSwap's goal is no longer limited to the traditional Web3 narrative but aims to target over 2 billion digital music users and a trillion KRW-scale content market.

By integrating content creators, users, capital, and liquidity into a blockchain framework centered around IP rights, BeatSwap is striving to build a next-generation infrastructure focused on "IP tokenization."

Conclusion

BeatSwap integrates IP authentication, authorization distribution, incentive mechanism, transaction system, and market construction to establish a unified structure that bridges the full lifecycle path of IP rights.

With the launch of the Q2 2026 "Space," the project is expected to become a key infrastructure connecting content and finance in the IP-RWA (Real World Assets) track.

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