Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, has criticized the U.S. Securities and Exchange Commission (SEC) for its refusal to approve spot Bitcoin exchange-traded funds (ETFs). He argues that the SEC’s actions have prevented U.S. investors from accessing one of the best investment opportunities of the past decade. Winklevoss also calls the Grayscale Bitcoin Trust, a popular investment vehicle, “toxic” due to its discount to the underlying Bitcoin price. However, the SEC’s concerns about investor protection and market integrity are valid, and finding the right balance between innovation and investor safeguards is crucial in the evolving cryptocurrency landscape.

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