Ripple CLO Criticises Gensler’s Attempt To Defend His Hostility Towards Crypto, XRP Price Pumps
After Gary Gensler in his latest speech defended his stance on crypto, Ripple CLO Stuart Alderoty has taken to X to criticize him. He staunchly criticized Gensler for attempting to defend his hostility towards the crypto industry for four long years. In the latest X post, he shared-
„Gary Gensler attempting to justify his four-year-long political crusade to destroy crypto by claiming he just continued what Jay Clayton started is like burning down the house and saying, ‚Jay lit the match—I just added the gasoline.'“
Gensler, in his recent speech, stated that when he arrived in 2021, the Commission under Chairman Jay Clayton had already brought some 80 actions, including the Ripple case, against participants in the crypto markets that were not following the common-sense rules of the road.
https://twitter.com/s_alderoty/status/1857795002291879967
Notably, 18 US state attorney generals have filed a lawsuit accusing the SEC of a constitutional overreach in crypto regulation. In a previous post, he had voiced that Gensler’s institutional damage to the SEC runs deep. He had also written that his legacy of undermining American innovation and failing to uphold the law is shameful. „With 18 states suing to hold him accountable, I look forward to him soon becoming an unfortunate footnote in SEC history,“ the CLO Shared.
Interestingly, the XRP price has pumped 85% this week and is now trading above $1. This significant rally comes amid the ongoing legal battle between Ripple and the SEC, as well as the growing criticism against Gensler’s hostile stance towards the crypto industry.
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