- Ripple’s chief legal officer says the SEC chair is a liability for President Joe Biden.
- Stuart Aldertoy believes Gensler’s anti-crypto stance will deter voters.
- Remarks follow Gensler’s warning to Kraken to shut down staking services.
Ripple’s chief legal officer, Stuart Alderoty, recently slammed Gary Gensler, the United States Securities and Exchange Commission (SEC) chairman, suggesting that Gensler may be a problem for Vice President Joe Biden. The tweet highlights the demographic diversity of the nearly 40 million Americans who possess cryptocurrency, highlighting that many of them are young adults ( ages 18-34) of various ethnicities.
Considering these numbers, Alderoty stated that he sees Gensler as a political risk due to his nomination by President Joe Biden in 2021. The SEC Chair, according to him, represents a political risk for the Biden Administration, as the millions of crypto enthusiasts who feel wronged by the agency’s actions will never again support a candidate who advocates so harshly against the cryptocurrency sector.
These remarks are in response to the SEC’s enforcement action against the cryptocurrency exchange Kraken. Gensler …
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