Dave Michaels
speaker
248 appearances
5 recordings
1 series
first heard May 2018
last heard Jul 2021
Dave Michaels’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Who Is the CryptoMom, and Why Do Crypto Startups Like Her? · 7 Jan 2019
podcast
That's right.
She is a relatively new SEC commissioner who got this nickname crypto mom shortly after she was the only SEC commissioner to support
what would have been an exchange-traded fund tracking the price of Bitcoin that was offered or at least conceived of as an investment product by the Winklevoss brothers earlier of Facebook fame.
And the SEC rejected the idea of this ETF, but Commissioner Peirce was the only commissioner who said that it should have been allowed to be marketed and sold.
And she issued a very long
dissent explaining why she thought the SEC got it wrong and that this happened back in the summer.
It really got portions of the crypto market really jazzed about her reasoning and the potential for her sort of advocacy for their point of view at this regulatory agency.
That's the status that she's gotten, the status within the market, which is, I mean, that's a fairly amorphous term.
I realize there are lots of different types of investors and participants in this, in the crypto market from, you know, from just the pure Bitcoin sort of traders and speculators to those that are, you know, deeper into the blockchain ecosystem.
But sort of across the board, they view her as a commissioner who gets it, who's willing to be
more tolerant of innovation and some of the sort of eggs that they're breaking as they try to figure out how to adapt this new technology to financial markets.
Yeah, it's no mistake that she's the only commissioner
who has been sort of, as she put it in the story, in a quote we got from her, she said she thinks it's okay to hold the hand of these crypto entrepreneurs.
It's no mistake she's the commissioner who says that.
She's also the commissioner who pushes back most often against the enforcement division of the SEC when she thinks their cases sort of go too far punishing public companies and
or individual executives.
And she has said some things behind closed doors that were perceived basically as denigrating the work of the enforcement division.
She was too tough in sort of raking them over the coals about the case that they were bringing.
And in some cases, she's, from our reporting, we've learned she had to later apologize for some of the things that she said to them.
She's relatively unique as a commissioner.
Showing 141–160 of 248 · page 8 of 13
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