Barry Diller Calls Bitcoin ‘Delusional Mania’ as SEC Meeting Fuels Crypto Plunge Rumors.
A cryptic meeting between media mogul Barry Diller and SEC Chair Gary Gensler has sparked viral speculation that a massive regulatory crackdown on digital assets is imminent. Diller, the billionaire chairman of IAC and Expedia, reportedly described Bitcoin as a “delusional mania built on nothing” during a private dinner, according to a leaked audio snippet circulating on TikTok and X. The clip, which has racked up 2 million views in 24 hours, claims Diller warned that “we’re about to see a generation of young investors wiped out.” However, fact-checkers have flagged the audio as likely AI-generated, noting inconsistencies in Diller’s vocal cadence that don’t match his known speech patterns. While Diller did meet with Gensler on April 1st to discuss media regulations, no public record exists of cryptocurrency being on the agenda. Forbes confirmed the dinner took place but debunked the specific quote, calling it a “fabricated narrative” exploiting Diller’s known skepticism toward crypto. The rumor remains unverified, with Diller’s team calling the claims “pure fiction.” In reality, Diller has previously compared cryptocurrencies to “a cult” in a 2021 CNBC interview, but the leaked audio appears to be an elaborate hoax designed to manipulate market sentiment.