- Epstein files show the disgraced financier scheduled a meeting in 2018 with Gary Gensler “to talk digital currencies.”
- Gensler headed the SEC during its legal battle with Ripple over the security status of XRP, and many have pointed to coordinated attacks against the token as revealed on the files.
The Epstein files are the gift that keeps on giving. They have led to resignations at the top levels in business and politics, ramped up scrutiny on some of the world’s most influential figures and even led to new laws, like the proposed Virginia Law in the US. Crypto has not been left out, and Gary Gensler is the latest to get roped in to Epstein’s web.
Mention of Gensler goes as far back as 2018. In an email to Lawrence Summers, who served as the Secretary of the Treasury under President Bill Clinton’s administration, Epstein writes that Gensler “is coming earlier…wants to talk digital currencies.”
Summers tells Epstein that he knew Gensler, who had worked under him at the Treasury. “Pretty smart,” he adds, but goes on to state that his views had “pissed off” some of his superiors by favoring Democratic ideologies.
The emails don’t indicate if the scheduled meeting took place. At the time, Gensler was a professor at the Massachusetts Institute of Technology (MIT), teaching courses in blockchain and digital assets, fintech and market regulations. He would go on to take over as the head of the SEC, where he oversaw the most extensive crackdown on the crypto sector.
The SEC’s legal battle against Ripple stands out. While it was started by the previous chairman, Jay Clayton, it was Gensler who oversaw the longest part, eventually ending in a settlement a year ago, as we reported. The court also ruled that XRP sold to public retail investors did not qualify as security.
Did Epstein Influence US Gov’t Digital Currency Decisions?
The Epstein files have revealed that the financier was quite involved in the early days of crypto. This includes investing $3 million in Coinbase at its early stages.
The latest files show that he also donated millions to digital asset initiatives, including in academia. One of the projects he helped set up is the MIT Media Lab, which hosts the Digital Currency Initiative, a big contributor to the early days of Bitcoin.
While it’s not clear yet if Gensler met Epstein, he went on to lead a campaign that sought to clamp down on crypto and promote a sovereign digital currency. One digital asset commentator sums up Epstein’s approach as:
The pattern is clear: cripple Bitcoin as digital cash, fund CBDC pilots, and advise on government regulation to crush the broader crypto ecosystem.
As we reported, Epstein also had an eye on the development of XRP and Jed McCaleb’s switch to Stellar, which he described as a “secret Bitcoin project.”
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