Ripple Lawyer Urges FTX Venture Investors To Challenge SEC

Since the arrest of Sam Bankman-Fried (SBF) by the Bahamian Authority, US Watchdogs are pushing very hard to hold him liable for fraud and other conspiracies. However, the US SEC mentions that the SBF raised $1.8 billion from equity investors from May 2019 to perform the alleged actions. Read XRP News Here

Ripple lawyer challenges FTX Investors

In a recent interaction with CNBC, Kevin O Leary mentioned that the shareholders of FTX including him, might not get anything in return. The venture investors who lost their money understand this, he added.

Kevin stated that he doesn’t want anything back until the users who had money in their accounts got it back.

To this Stuart Alderoty, General Counsel of Ripple stated that Kevin and all other FTX venture investors should challenge the SEC. They should demand that the SEC should stop spending taxpayer money on its tag along case against SBF.

However, Ripple lawyer calls the SEC complaint against SBF a case to recover money on their behalf. Earlier, he stated that the commission’s charges against the FTX former CEO are just a tag along. While they don’t want the users’ money to be recovered amid the bankruptcy filed in court.

Earlier, Coingape reported that some users were facing complications while accessing their bank accounts which were linked to the FTX crypto exchange.