Its really clear that he is coordinating this and making it more likely to stick by splitting each cattle prod between the agencies.
That market participants don't know how far an agency can go is equivalent to Israel's nuclear policy, little bit of ambiguity and uncertainty has a deterrent effect. And if anything given how routinely market participants still abuse every little trick they can regulators aren't scary scary enough.
And no offense but you've got "fintech, commodities and digital assets" in your bio, are you by any chance making money off some underregulated crypto scheme and have been at the receiving end of regulatory action?
I’ve felt similarly about these agencies long before I brushed against their purview