SEC Chair Sparks Controversy: Ripple’s Lawyer and Crypto Community Respond in Hilarious Fashion

Ripple Attorney Calls for Fact-Checking of Gary Gensler's Speech, Alleges SEC Tactics Seen as Unethical

Ripple lawyer calls for fact-check on Gary Gensler’s speech, slams SEC actions as ‘shady’.

In a recent speech by SEC Chair Gary Gensler, he cited the words of the first SEC chair, Joseph P. Kennedy, emphasizing the agency’s role as “partners of honest business and prosecutors of dishonesty.” Now, if you’re wondering why this is causing quite a stir, let’s just say that Gensler’s actions and words are not exactly matching up – cue the eye rolls and sarcastic applause.

Of course, the crypto community wasted no time in responding to Gensler’s remarks. Ripple’s chief legal officer, Stuart Alderoty, who is currently in a legal battle with the SEC, took to the Twitterverse to fact-check the SEC chair. According to Alderoty, Gensler has “prejudged crypto and has filed suit against others without investigation.” Oh snap! Burn alert!

But wait, there’s more! Alderoty brought up the fact that Ripple was sued but never charged with dishonesty. He didn’t hold back in accusing the SEC of “shady behavior” and even had the audacity to call them “irrelevant” internationally. Ouch, that’s gotta sting!

However, Alderoty’s not the only one joining the roast party. Erik Voorhees, the founder and CEO of ShapeShift, chimed in, claiming that Gensler has prosecuted his “honest business” twice. Talk about awkward. It seems that our SEC chair might want to brush up on his own commitment to honesty before preaching about it.

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And the responses don’t stop there. Another user, armed with wit and sarcasm, pointed out that Gensler’s quote was supposed to represent the SEC’s vision. But alas, they argued that the vision has “evolved” for the worse, with the SEC allegedly enabling a “corrupt system.” Shots fired!

So, dear SEC Chair Gensler, it seems your recent speech has sparked a hilarious and contentious debate within the crypto community. Your words may have intended to inspire confidence, but they have inadvertently fueled the fire of skepticism and mockery. Perhaps it’s time to reconcile your actions with your rhetoric. Just saying, it would save us all a good laugh.

Now, what do you think, dear readers? Do you believe Gensler’s words hold weight, or are they merely empty promises? Let us know in the comments below!

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