Ripple lawyer urges fact-checking of Gary Gensler’s speech, calls SEC actions ‘shady’
When Gary Gensler restated the authority of the United States Securities and Exchange Commission in his speech, Ripple's lawyers and various members of the crypto community responded, criticizing the SEC chairman and arguing that the commissioner's words contradicted his actions.
On November 16, SEC Chairman Gary Gensler shared a video of him speaking at the 2023 Securities Enforcement Forum. In his speech, he quoted the first SEC chairman, Joseph P. Kennedy's speech highlighted.
First @SECGov Chairman Joseph P. As Kennedy once said: “We are not prosecutors of honest business or advocates of perversion. We are partners of honest business and prosecutors of dishonesty. We do not judge, but we investigate.”
Check out my latest comments: pic.twitter.com/QM2zqj8PQs
— Gary Gensler (@GaryGensler) November 16, 2023
The post on X (formerly Twitter) sparked responses from various members of the crypto community, including Ripple's Chief Legal Officer Stewart Aderotti, who is currently in a legal battle with the SEC. According to Alderoty, the SEC chairman's recent comments should be based on facts and that Gensler “has done crypto before and accused others without investigation.”
The SEC is losing in court; Criticized by judges for hostile behavior; discipline by the government's internal auditor; Hiding information about meetings with the criminal; Being irrelevant on the international stage. Gensler – admitting no wrongdoing – became Col. Jessep's defense. pic.twitter.com/vqjPPcifr8
— Stuart Alderoty (@s_alderoty) November 16, 2023
Alderoty also said that Ripple was sued but “never accused of dishonesty”. Ripple's executive has filed some charges with the SEC and is criticizing them for “hostile behavior” and being “irrelevant” globally.
Related: Gary Gensler Connects Crypto to Money in Viral 2018 Video – Crypto Twitter Responds
In addition to Alderotti, various members of the crypto community responded to the video Gensler shared. Eric Voorhees, founder and CEO of marketing platform Shapeshift, responded on Twitter, saying that Gensler had double-crossed his “honest business.”
Meanwhile, a community member responded to Gensler's comment, saying that what he mentioned was “his vision.” However, the Twitter user has made up for the worst, arguing that the SEC has facilitated the “legalization of a system of corruption.”
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