Veteran trader Peter Brandt has cautioned against trusting SEC Chairman Gary Gensler, citing Gensler's alleged history of not safeguarding investors. Gensler has previously remarked that the crypto industry is plagued by fraud and manipulation. Concerns have been raised about potential changes to the definition of a 'security' by the SEC, with warnings of adverse effects on decentralized finance (DeFi) and hindrances to U.S. digital asset innovation. Criticism has been directed at the SEC for rushed and politically motivated rule-making that is perceived to harm investor protection and competitiveness in American capital markets. Additionally, Anthony Scaramucci has suggested underlying reasons for Gensler's negative stance on cryptocurrencies, and doubts have been raised about the approval of an Ethereum exchange-traded fund (ETF) in the near future. Gensler faced pushback on his Bitcoin and crypto policies during a CNBC interview, with industry experts expressing varying opinions on the matter.