Cathie Wood, CEO of ARK Investment Management, has criticized SEC Chair Gary Gensler’s approach to cryptocurrency regulation, labeling him a “menace” to the digital assets sector. Wood argues that Gensler’s stringent policies have stifled innovation and driven talent abroad.

Under Gensler’s leadership, the SEC has intensified enforcement actions against crypto firms, initiating 46 crypto-related cases in 2023 and imposing penalties totaling $4.7 billion in 2024—a 3,000% increase from the previous year. Critics contend that this aggressive stance has hindered the growth of the U.S. crypto industry.

Wood suggests that a change in SEC leadership could “turbocharge the U.S. economy” by fostering innovation in blockchain, AI, robotics, and energy sectors. She believes that deregulation and reduced government spending could stimulate economic growth and attract investment in emerging technologies.

The recent election of President Donald Trump, who has expressed pro-crypto sentiments, has raised expectations for a more favorable regulatory environment. Trump’s plans include establishing a strategic Bitcoin reserve and replacing Gensler with a more crypto-friendly SEC chair, potentially reshaping the regulatory landscape for digital assets.

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