peterschreiber.media/iStock via Getty Images
- SEC Chairman Gary Gensler said investors need better protection in the wake of the fallout from the implosion of crypto exchange FTX.
- "I think investors need better protection in this space," Gensler said in a CNBC interview. "This is a field that is significantly non compliant, but it's got regulations and those regulations are often very clear."
- "The runway is getting shorter," Gensler said. "Beware this is highly speculative, it is regulated, but without prejudging anyone's circumstance, largely non compliant."
- "When you give somebody your token and they go down, you are going to just stand in line in a bankruptcy court and they may be taking your token and doing all sorts of things without proper disclosure," Gensler said.
- Earlier Thursday Galaxy Digital's Novogratz said FTX news is a "body blow" to crypto industry trust.