U.S. Securities and Exchange Commission (SEC) on Wednesday charged the Former CEO of Alameda Research and former CTO of FTX, Zixiao Wang for their roles in a marathon defraud scheme. However, Ripple’s General Counsel has claimed that the SEC has lost the plot line in the Sam Bankman-Fried (SBF) led collapse in the crypto market.
Ripple lawyer attacks SEC
Stuart Alderoty, General Counsel of Ripple commented over this major development and attacked SEC chair, Gary Gensler’s approach towards it.
He stated that when the SEC mentions that “investors were left holding the bag” they want everyone to believe that it is about FTX’s customers who lost their money. However, it is not about those customers as the Commission only cares about the FTX’s equity investors, he added.
Earlier, Coingape reported that Ripple Counsel challenged the FTX Venture investors to go after the SEC. He stated that they should demand that the commission should halt wasting taxpayer money over this case.
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