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Ripple leaders are concerned about candidates replacing Gary Gensler

Stuart Alderoty’s Concerns

Stuart Alderoty, CLO of Ripple, has expressed concerns over Bob Stebbins, former SEC adviser, potentially being appointed as SEC Chair. Stebbins was involved in the 2018 Ethereum classification statement, which helped Ethereum not to be considered a security. This has led to criticism from the crypto community, especially regarding the SEC lawsuit against Ripple concerning XRP.

Unfavorable policies

There are concerns that Stebbins might continue the unfavorable policies for the crypto market that were implemented under Clayton’s tenure. John Reed Stark, former SEC official, stated that during his time at the SEC, Stebbins approved about 80 enforcement actions aimed at crypto activities.

Brad Garlinghouse’s Criticism

Meanwhile, Brad Garlinghouse, CEO of Ripple, has also criticized SEC’s actions and previously emphasized that an SEC Chair should not pick winners and losers in this industry. Other candidates being considered for this position include Daniel Gallagher from Robinhood and Paul Bondi and Paul Atkins. The crypto world is closely following this development, hoping to choose an SEC chair with an objective and fair perspective.

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