thenewscrypto.com
- U.S. SEC chairman Gary Glenser declared Algorant as an unregistered security.
- The $ALGO trading price has declined by around 6% in the last 24 hours.
The U.S. Securities and Exchange Commission chairman, Gary Gensler, declared that Algorand ($ALGO) was an unregistered security. Now Gary Gensler has been caught promoting Algorand.
No doubt this will be the subject of at least a few lines of questioning at tomorrow’s House Financial Services Committee hearing.
— Eleanor Terrett (@EleanorTerrett) April 17, 2023
Gensler previously called Algorand a “great technology” that you could build Uber and Lyft on.
Today, he declared $ALGO an unregistered security. pic.twitter.com/Sn6JVrEgq4
A video of Gary Gensler has emerged on Twitter. In that footage, Gary Gensler promotes the Algorand ($ALGO). He stated that Algorand is a great technology; it has the performance you can create Uber and Lyft on top of it.
Moreover, Gary Gensler has been speaking highly about the $ALGO at several public events. Critics are calling him a hypocrite for his speech.
Gary Gensler’s action had a huge negative impact on the $ALGO trading price. Whale Chart reported that $100 of $ALGO, when Gary Glenser said you could build Uber on it, is today worth $5. At the time of writing, the trading price of $ALGO is around $0.221, with a decline of 5.41%, according to CoinMarketCap.
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