Ripple Chief Legal Officer SLAMS Gary Gensler

November 16, 2023 1:18 pm Comments

The Securities and Exchange Commission (SEC) has become increasingly unhinged and is on a trajectory to become a pariah.

ProCoin News previously reported that government auditors found that the SEC likely broke the law and there has been dissent from within the agency itself.

Moreover, Congressional lawmakers have been losing patience with the rogue government agency.

Ripple’s Chief Legal Officer Stuart Alderoty touched on all of this and more in a recent statement:

“The SEC is losing in court; being criticized by Judges for shady behavior; being rebuked by the Gov’t’s internal auditor; hiding info about meetings with a felon; becoming irrelevant on the international stage. Gensler – admitting no fault – has become the insulate Col. Jessep,” Alderoty said.

Finbold commented on Alderoty’s recent post aimed at Gensler:

Indeed, the SEC has been facing scrutiny over a Zoom call that Gensler held with Bankman-Fried in March 2022, leading to criticism of alleged conflicts of interest and close ties with the person later found guilty on seven counts of fraud and conspiracy.

Ripple’s CLO wasn’t the only one who called out Gensler, Ripple Labs’ co-founder and CEO Brad Garlinghouse also rebuked the government bureaucrat.

CoinDesk featured a related report:

Given how knowledgeable U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is about Bitcoin (BTC), it’s hard to come up with a logical reason for his standing in the way of a spot ETF, said ARK Invest CEO Cathie Wood in a CNBC appearance.

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