This week I've been reflecting on our interview with Cory Frey, Gary Gensler's deputy. There are some things I really want to say to him. What infuriates us most about this campaign and "chokehold" initiated by Gensler is their arrogance. You're using sacred American institutions, for ideological reasons, to attack an industry you don't like. In the words of one of the judges in your lost case—your actions are arbitrary and capricious. You're using the Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency (OCC), and the Department of Justice (DOJ) as ideological weapons, undermining the legitimacy of these great institutions you claim to be loyal to. Now that cryptocurrency is facing an existential crisis, you're blaming political donations and corruption. Before you criticize others, look in the mirror—you're the ones who created this. Tens of millions of Americans want to use cryptocurrency and decentralized finance—that's what this industry is all about. You've never had the right to stop them. Do you expect us all to just give up? No, we trust crypto banks just as much as we trust you. But true cryptocurrency doesn't need our trust. True cryptocurrency returns power to individuals. This is something you've never acknowledged, and you've even tried to prevent. But we are achieving this through decentralized finance (DeFi). Protocols, not people. Code, not monarchs.
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