Ripple CLO Alderoty, XRP Lawyer Deaton Accuse US SEC And Gensler

Varinder Singh
September 22, 2023
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XRP Lawyer John Deaton's Best Recommendation To Tackle SEC Chair Gary Gensler

Ripple chief legal officer Stuart Alderoty and XRP advocate John E. Deaton took to X to accuse Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), of fraud and manipulation. The move comes in response to Gensler’s anti-crypto comment on Bloomberg and how securities law can prevent “fraud and manipulation” in the crypto industry.

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Ripple CLO and XRP Lawyer Condemn SEC Chair Gary Gensler

Ripple chief legal officer Stuart Alderoty condemns SEC Chair Gary Gensler for disrespecting the decisions of the courts. While Ripple fights to bring regulatory clarity in the U.S., Gensler urges that applying securities laws to crypto will benefit and protect investors from fraud and manipulation. Ripple and Coinbase executives had raised concerns about the lack of crypto regulations and the SEC has no jurisdiction over crypto.

“What’s most concerning to me (and should be to you) in the full video clip is the shocking admission of an unelected bureaucrat that he won’t respect the decisions of the Courts.”

John E. Deaton, a lawyer representing more than 75,000 XRP holders, took to X alleging the SEC for fraud and manipulation. Investors need protection from the SEC’s anti-crypto stance and hypocrisy.

Steven Nerayoff, an early Ethereum adviser, shared that a $19.2 trillion loss in US household wealth during the housing crisis happened due to fraud and manipulation by regulated institutions. “So regulations protect people from losses due to fraud & manipulation.”

Deaton is likely to bring Steven Nerayoff on CryptoLawTV to discuss shocking allegations he made about Ethereum’s initial coin offering (ICO) and corruption at the SEC.

Read More: XRP Lawyer Deaton Reveals Hints About Big Announcement This Week

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US SEC’s Hypocrisy

Federal judges have called the US SEC’s claims “arbitrary and capricious” in the Grayscale lawsuit and Judge Netburn in the Ripple lawsuit used the word “hypocrisy” to describe the SEC’s inconsistent positions.

The SEC incorrectly argued “question of law” requirement for interlocutory appeal and has failed to address its authority. Stuart Alderoty said the SEC’s interlocutory appeal filing is hypocritical and has no impact.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.