XRP Lawyer Urges This Probe Can Lead To End Of US SEC Chair1 min read
Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC), has been accused of showing favoritism towards certain crypto firms and personalities. Additionally, the commission has faced criticism for its role in the recent market crash, which has contributed to greater volatility in the digital asset industry.
US SEC Chair Dodging Responsibilities?
Attorney John Deaton, who represents XRP holders in the SEC vs Ripple case, has launched significant allegations against the SEC, citing the Sequoia China case as a critical matter. He has suggested a possible link between the US SEC chair and the recent FTX collapse and Sam Bankman-Fried’s (SBF) escape.
Deaton argues that if the connection is properly investigated, it could spell the end of Gary Gensler’s tenure as SEC chair. However, Sequoia China was one of the top investors in FTX, and SBF had invested $200 million in Sequoia’s funds.
Deaton also criticized Congress for failing to hold the US SEC accountable for investigating capital market claims against Sequoia’s China principal, despite enabling the CCP/PLA.