Ripple CLO Speculates On SEC Lawyers Whistleblowing Against Gary Gensler Amid Exodus
Ripple's Chief Legal Officer, Stuart Alderoty, recently sparked speculation about the U.S. Securities and Exchange Commission's (SEC) impending exodus. He wondered if the lawyers associated with the crypto asset and cyber unit of the SEC were willing to blow the whistle on their superiors.
Alderoty has previously criticized SEC Chair Gary Gensler's "controversial leadership" and did not hesitate to do so when an exodus was rumored. In an interview with X, Alderoty asked if any of the SEC lawyers were "brave enough to blow the whistle" against Gensler.
Moreover, Alderoty seemed intrigued to know if they would "share details about Gensler's 'controversial leadership' with the SEC's Office of Inspector General or with the House Committee on Oversight and Accountability?" While this could sound like a genuine question to some, it could be a strategy employed by the Ripple CLO to encourage whistleblowing against Gensler.
The statement itself has raised concerns and the XRP community has been siding with Alderoty, expressing resentment towards Gensler. Alderoty's response comes after recent reports indicated a potential exodus among senior enforcement lawyers from the SEC's crypto asset and cyber unit, indicating ongoing dissatisfaction with Gensler's leadership. Numerous resumes from SEC officials have surfaced at major law firms, suggesting a significant shake-up within the agency.
Fox journalist Eleanor Terrett revealed that Gensler is seeking a substantial $2.4 billion budget for the SEC this year. Alongside this request, he is also asking for 170 additional staff positions, including several key roles within the crypto assets and cyber unit. This underscores Gensler's determination to uphold the agency's crackdown on crypto despite the impending departure of key personnel.
When Gensler stated that he would resume office if President Joe Biden wins the 2024 elections, Alderoty sarcastically asked, "Who else would hire him?" Moreover, he proceeded to highlight numerous controversies surrounding Gensler's tenure, branding him as "politically toxic." The Ripple CLO went on to denounce him as a "serial loser" in court cases, citing instances where his staff had been caught lying to judges.
