Ripple CLO Highlights Concerns Over SEC Leadership
Ripple’s Chief Legal Officer, Stuart Alderoty, has raised doubts about Gary Gensler’s leadership at the SEC. This follows criticism from Coinbase CLO Paul Grewal regarding the agency’s actions in the DEBT Box case. Alderoty echoed Grewal’s sentiment that the SEC operates like a “police state” without facing consequences for its actions. The tensions between Ripple and the SEC continue to escalate as their legal battle unfolds. Ripple has been openly critical of the SEC’s regulatory approach under Gensler’s controversial leadership.
Ripple CLO Calls Out Gensler’s Actions
Alderoty questioned Gensler’s future employability and highlighted the shortcomings of the SEC under his supervision. He referred to instances where SEC staff were caught lying to judges, the embarrassing hacking of the agency’s Twitter account, and Gensler’s connection to Jeffrey Epstein that led to his sponsor at MIT quitting. These comments further intensify the ongoing Ripple vs SEC legal battle.
Coinbase CLO Criticizes SEC’s Handling of DEBT Box Case
Paul Grewal strongly condemned the SEC for its lack of transparency and accountability in the DEBT Box case. He pointed out that despite admitting deception, the SEC remained silent and did not withdraw its order. In response, Coinbase defied the asset freeze order and demanded an explanation from the SEC. The exchange unfroze assets while criticizing the inadequate response from the agency. The controversy surrounding this case resulted in a rebuke from U.S. District Judge Robert Shelby and drew concerns from Republican senators.
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