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Ripple CLO Accuses SEC Chair Gensler of Crypto Bias and Prejudice

  • The crypto community disagreed with Gary Gensler’s remarks that the SEC only goes after dishonest businesses.
  • Ripple CLO Stuart Alderoty disputed Gensler’s claims, stating Ripple was sued but not charged with dishonesty.
  • Alderoty accused Gensler of being prejudiced against crypto and filing suits without investigations.

At a recent event, the U.S. Securities and Exchange Commission chairman Gary Gensler said, “We [regulators] are partners of honest business and prosecutors of dishonesty.”

However, his statements did not receive applause – at least not in the crypto community – as founders and executives called out the falsehood in his remarks. 

Notably, Ripple Labs Chief Legal Officer Stuart Alderoty was among the first to react to Gensler’s remarks. According to Alderoty, “Ripple was sued, but never charged with ‘dishonesty,’” discounting Gensler’s claims that the SEC only goes after dishonest businesses. 

Fact check Gensler’s recent remarks. Ripple was sued, but never charged with “dishonesty.” The failed case against it was prejudged, beginning with the ethically compromised Bill Hinman.

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