Ripple lawyer urges fact-check of Gary Gensler’s speech, says SEC actions seen as ‘shady’
As Gary Gensler reiterated the United States Securities and Exchange Commission’s mandate in a speech, Ripple’s lawyer and various crypto community members responded, criticizing the SEC chair and arguing that the commissioner’s words contradict his actions.
On Nov. 16, SEC Chair Gary Gensler shared a video of him conducting a speech at the 2023 Securities Enforcement Forum. In the speech, he highlighted the words of the first SEC chair, Joseph P. Kennedy, saying that the government agency should be “partners of honest business and prosecutors of dishonesty.”
As Joseph P. Kennedy, the first @SECGov Chair, once said: "We are not prosecutors of honest business, nor defenders of crookedness. We are partners of honest business & prosecutors of dishonesty. We shall not prejudge, but we shall investigate.”
Check out my recent remarks: pic.twitter.com/QM2zqj8PQs
The post on X (formerly Twitter) triggered responses from various crypto community members, including Ripple chief legal officer Stuart Alderoty, who is currently engaged in a legal battle against the SEC. According to Alderoty, the SEC chair’s recent remarks should be fact-checked and that Gensler has “prejudged crypto and has filed suit against others without investigation.”
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. pic.twitter.com/vqjPPcifr8
Alderoty also highlighted that Ripple was sued but was “never charged with dishonesty.” The Ripple executive also threw some accusations toward the SEC and said that they are being criticized for
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