Ripple Chief Legal Officer: Gary Gensler is "a struggling political liability"

As hype around the potential approval of an Ethereum spot ETF continues to heat up, Ripple Chief Legal Officer Stuart Alderoty described SEC Chairman Gary Gensler as "a struggling political burden." In response to the discussion about the SEC becoming a hot topic before the election, Alderoty posted on the X platform: "Gensler is too confident. He thinks cryptocurrency is an easy target. He is happy to be the person everyone loves and hates. He thinks he is not subject to congressional supervision. All this is gone. He is now a struggling political liability." This view, which has long been shared by many others in the crypto industry, came after a clear and sudden shift in Democratic sentiment before the November election. Some claim that the SEC's sudden request for trading platforms to modify spot Ethereum ETF filings indicates that the SEC wants to appear more friendly to cryptocurrencies as the industry plays an increasingly important role in winning votes. (The Block)