Ripple’s Chief Lawyer Bashes His Shocking Answers During Hearing

Lawyer Alderoty questioned SEC Chairman Gensler's evasive answers during a cross-examination by Rep. Ritchie Torres, calling them deafening and damning. The SEC chairman also criticized some crypto companies for handling customers' assets and laughed about his wealth, causing outrage among the XRP community. This raises concerns about the SEC's failure as an institution and the number of lawsuits against it. The agency's recent moves have been criticized by lawyers, politicians, and even SEC commissioners. At least six financial trade associations have sued the SEC over an arbitrary and capricious new policy called Private Funds Adviser Rule. John Deaton, a pro-Ripple lawyer, recently stated that the SEC is the biggest threat to retail investors after the SEC objected to the collaboration between Coinbase and Celsius Network. The latest testimony puts the SEC in a questionable position, which many consider reckless.

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