The Ripple CLO questioned whether the SEC lawyers who were about to depart the agency would blow the whistle on Gary Gensler before leaving.
Stuart Alderoty, chief legal officer of Ripple, recently prompted rumors regarding the impending departure of the U.S. Securities and Exchange Commission (SEC).
He pondered whether the SEC’s crypto asset and cyber unit’s lawyers would be amenable to blowing the alarm.
Ripple CLO Sparks Speculation Around SEC’s Departure
The Ripple CLO has regularly criticized SEC Chair Gary Gensler’s “controversial leadership” and did not miss a chance to do so when a departure was rumored.
Alderoty took to X, asking if any of the SEC lawyers were “brave enough to blow the whistle” against Gensler.
Furthermore, he appeared to be curious as to whether or not they would “share details about Gensler’s ‘controversial leadership’ to the House Committee on Oversight and Accountability or the SEC’s Office of Inspector General.”
Although some may interpret this as a genuine inquiry, the CLO of Ripple may be employing this tactic to incite Gensler whistleblowers to come forward.
Additionally, the statement has generated concern, and the XRP community has taken Alderoty’s side, harboring animosity towards Gensler.
Alderoty’s reply coincides with recent reports that suggested a possible departure of senior enforcement lawyers from the SEC’s crypto asset and cyber unit, indicating that Gensler’s leadership continues to be mistrusted.
The appearance of numerous resumes from SEC officials at prominent law firms indicates that the agency is undergoing a substantial reorganization.
Furthermore, Fox Journalist Eleanor Terrett has disclosed that Gensler is requesting a significant budget of $2.4 billion for the SEC in this year.
In addition to this, he is requesting 170 additional personnel positions, including several critical positions within the cyber and crypto assets unit.
This demonstrates Gensler’s unwavering commitment to maintaining the agency’s stringent stance against cryptocurrencies, even in the face of imminent departures of critical personnel.
SEC Chair Gary Gensler Under Heat
In response to Gensler’s declaration that he would return to work if President Joe Biden prevails in the 2024 elections, Alderoty jokingly inquired, “Who else would hire him?”
Moreover, he proceeded to draw attention to a multitude of controversies that surrounded Gensler’s tenure, characterizing him as “politically toxic.”
The Ripple CLO subsequently criticized him in court, labeling him a “serial loser” and citing instances in which his employees were discovered lying to judges.
Furthermore, Alderoty highlighted the notorious breach that occurred on the X account of his organization, characterizing it as a significant mishap.
Additionally, he stated, “His sponsor at MIT quit because of his close Epstein ties,” which emphasized the concerns regarding Gensler’s associations.
As he underscored the pervasive discontent among Ripple’s XRP supporters with Gensler’s leadership, Alderoty’s frustration was evident; this indicated a substantial lack of confidence in his capabilities.
