Ripple CLO: Gensler ‘Struggling Liability’ Amid Political Shift”

• Ripple’s CLO, Stuart Alderoty, tagged SEC Chair Gary Gensler as “a struggling liability” amid speculation over spot ether ETF approval.
• Alderoty implied Gensler underestimated crypto’s resilience, leading to a political backlash.
• The SEC’s call to amend spot Ether ETF filings is perceived as a move to enhance crypto-friendliness ahead of elections.

Ripple’s Chief Legal Officer, Stuart Alderoty, referred to the US Chairman Gary Gensler as “a struggling liability.” Alderoty made this remark in a recent X post as the anticipation for the potential approval of spot Ether exchange-traded fund (ETFs) grows.

Gensler overplayed his hand. He thought crypto was an easy target. He relished being the guy that everyone loved to hate. He thought he was above Congressional oversight. That’s all gone. He’s now a struggling political liability. https://t.co/Uy6Mwed6hJ

— Stuart Alderoty (@s_alderoty) May 22, 2024

Reacting to the buzz surrounding the much-anticipated approval, Alderoty suggested that Gensler had “overplayed his hand.” He argued that Gensler initially saw the crypto industry as an easy target. Alderoty added:

“He relished being the guy that everyon…

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