加里·盖斯勒（Gary Gensler）以世界末日的预测退出SEC：即将发生加密货币

在他的正式退出之前的几天，Gensler以大胆而清醒的预测进行了权衡：不仅可能发生加密货币，而且即将发生加密货币撞车事故

The crypto market may face volatile seas–at least that was the clear conviction of Gary Gensler, now exiting head of the U.S. Securities and Exchange Commission (SEC). Days before his official exit, Gensler weighed in with a bold and sobering prediction: that not only is a crypto crash likely, but a crypto crash is imminent for the large majority of tokens currently in the market.

加密货币市场可能面临着波动的海洋 - 至少这是对现已退出美国证券交易委员会（SEC）负责人加里·金斯勒（Gary Gensler）的明确定罪。在他的正式退出之前的几天，Gensler进行了大胆而醒目的预测：这不仅是加密货币撞车事故，而且加密货币撞车事故对于目前市场上的大多数代币而言都是即将出现的。

His warning wasn’t just a passing comment. It was a clear and pointed message to investors, regulators, and the broader financial world. According to Gensler, while Bitcoin (BTC) may have carved out a relatively stable position as a form of “digital gold,” most other crypto tokens are walking a tightrope, and many are about to fall. With Paul Atkins preparing to step in as the new SEC chair, the timing of this message couldn’t be more significant.

他的警告不仅仅是通过评论。这是向投资者，监管机构和更广泛的金融界传达的明确信息。根据Gensler的说法，虽然比特币（BTC）可能以“数字黄金”的形式推出了相对稳定的位置，但大多数其他加密代币都在行走绳索，许多代币将掉落。随着保罗·阿特金斯（Paul Atkins）准备介入新的SEC主席，此信息的时机并不重要。

Why Is Gensler Predicting a Crypto Collapse?

为什么Gensler预测加密货币崩溃？

In an interview with CNBC, Gensler didn’t mince his words. He asserted that most digital tokens have “no value intrinsically” and that they exist only on hype, speculation, and sentiment. Gensler estimated there were 10,000-15,000 cryptocurrencies and that the majority serve as little more than speculative assets with little or no utility in the real world.

在接受CNBC的采访中，Gensler并没有削弱他的话。他断言，大多数数字代币“本质上没有价值”，并且仅存在于炒作，投机和情感上。 Gensler估计有10,000-15,000个加密货币，大多数人只能投机资产，而在现实世界中几乎没有公用事业。

“This sector is based almost entirely upon situational sentiment, having very little fundamental value,” he said. He described that sentiment-filled market structure as dangerously flimsy and a contributor to what could very well be a cryptocurrency crash.

他说：“这个部门几乎完全基于情境情绪，几乎没有基本价值。”他将充满情感的市场结构描述为危险的脆弱，也是对加密货币崩溃的贡献。

What Makes Bitcoin Different According to Gensler?

根据Gensler的说法，比特币与众不同？

While the outgoing SEC chief had largely upbeat commentary on the crypto market in recent months, he did make a distinction between Bitcoin and altcoins. He saw potential for BTC to become a store of value similar to gold, mostly because it has a global identity and is more established than many of its rivals. Bitcoin also has some serious staying power, and to date, there is no real competitor, as its first-mover advantage and a decentralized model make it so.

虽然即将离任的SEC负责人最近几个月对加密货币市场进行了很大的乐观评论，但他确实区分了比特币和Altcoins。他认为，BTC成为类似于黄金的价值的潜力，主要是因为它具有全球身份，并且比许多竞争对手都更加建立。比特币还具有一些严重的持久力，迄今为止，没有真正的竞争对手，因为它的第一步优势和分散的模型使它成为现实。

However, this phrase was still measured. Gensler noted that even if Bitcoin survives the storm, it does not mean the market will survive. The main concern remains too much speculation and not enough for all but a few tokens.

但是，该短语仍被测量。 Gensler指出，即使比特币幸存下来，也不意味着市场将生存。主要问题仍然太多的猜测，除了少数几个令牌外，还不够。

SEC and Crypto Regulation: A New Chapter Begins

SEC和加密法规：新篇章开始

With Gensler stepping aside, the SEC now finds itself at a crossroads. The incoming chair, Paul Atkins, will inherit a financial landscape in which crypto has become too large and influential to ignore but also too volatile to leave unchecked. How he chooses to regulate this industry will be a defining aspect of his leadership.

随着Gensler踩到一边，SEC现在发现自己处于十字路口。即将到来的主席保罗·阿特金斯（Paul Atkins）将继承一种金融景观，在这种情况下，加密货币变得太大而有影响力，无法忽视，但也太波动了，无法保持不受组织。他选择如何规范这个行业将是他领导的决定性方面。

Digital asset regulation has long been a subject of heated debate, and Gensler’s comments may be seen as an indirect challenge to the incoming chair to act decisively and quickly. Without stronger oversight, Gensler suggests, the next crypto crash may be closer than anyone realizes.

长期以来，数字资产法规一直是激烈辩论的主题，而Gensler的评论可能被视为对即将到来的主席果断地行事的间接挑战。 Gensler建议，没有更强有力的监督，下一次加密货币可能比任何人意识到的要近。

This statement also comes amid increasing pressure from both lawmakers and the public to bring clarity to crypto laws. Several bills are currently being discussed in Congress, aiming to set up a comprehensive regulatory framework for digital assets, covering everything from exchange oversight to stablecoin regulation.

这一声明也出现在立法者和公众对加密法律清晰的压力上增加的压力。目前正在国会讨论几项法案，旨在为数字资产建立全面的监管框架，涵盖从交易所监督到Stablecoin法规的所有内容。

Should Investors Be Worried?

投资者应该担心吗？

Gensler’s warning isn’t just a regulatory statement; it’s a signal to everyday investors as well. The message is clear: proceed with caution. While digital assets have made millionaires overnight, they’ve also wiped out portfolios just as fast. Investors need to understand this as a critical sign to reassess their strategies.

Gensler的警告不仅是监管声明；这也是日常投资者的信号。消息很明确：谨慎行事。尽管数字资产在一夜之间成为了百万富翁，但他们也消除了投资组合的速度。投资者需要将其视为重新评估其策略的关键信号。

“Speculative assets like these can end badly,” Gensler said, reminding everyone that hype-driven markets rarely hold up in the long term. It’s a lesson echoed through past market bubbles, from the dot-com crash to the housing market collapse. History doesn’t always repeat itself, but it often rhymes.

Gensler说：“像这样的投机资产可能会严重结束。”他提醒所有人，从长远来看，炒作驱动的市场很少能力。从互联网崩溃到住房市场崩溃，这是一个过去的市场泡沫回应的一堂课。历史并不总是重演，但经常押韵。

A Turning Point for The Crypto Market

加密市场的转折点

The cryptocurrency market is standing at a pivotal moment. The tide of optimism that swept through the industry in recent years may be turning, signaled by Gensler’s stark message. Whether or not his prediction of a crypto crash in the near future comes true, it’s clear that the industry is due for a major reckoning.

加密货币市场正处于关键时刻。近年来，席卷整个行业的乐观潮可能正在转向，这是Gensler的鲜明信息。无论他在不久的将来对加密货币崩溃的预测是否成真，很明显，该行业是要进行的。

With Paul handling the transition into the SEC’s top role, the pressure to bring regulation, transparency, and legitimacy to digital assets has never been higher. Will he push for tighter controls, or will he adopt a lighter touch? Either way, the choices made in the coming months will shape the future of crypto for years to come.

保罗将过渡到SEC的首要角色时，将法规，透明度和合法性带到数字资产的压力从未有所更高。他会推动更严格的控制权，还是会采用更轻松的触摸？无论哪种方式，未来几个月的选择都将影响未来几年的加密货币未来。

For now, Gensler’s final statement lingers like a storm cloud over the market: “Most tokens don’t have fundamentals, and sentiment alone won’t save them.”

目前，Gensler的最终声明像Storm Cloud一样在市场上流连忘返：“大多数令牌没有基本面，仅凭情感就不会拯救它们。”