China News by Thebittimes.Com

Following the recent remarks that the chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler, made before the 2023 Securities Enforcement Forum, the chief legal officer at Ripple, Stuart Alderoty, criticized him for having “prejudged” the entire cryptocurrency sector. Specifically, Gensler was quoting the first SEC chair, Joseph P. Kennedy, who said that the agency comprised “partners of honest business and prosecutors of dishonesty,” and Alderoty pointed out that the securities regulator sued Ripple “but never charged it with ‘dishonesty,’” as he said in an X post on November 17. According to the legal expert, the SEC had pre judge d the “failed case” against Ripple, “beginning with the ethically compromised Bill Hinman,” referring to the former SEC enforcement division director whose speech became one of the key pieces of evidence the blockchain company’s defense used in the lawsuit. As Alderoty further concluded, the current SEC boss has already pr...

Barry Silbert’s letter to shareholders came just hours after Cameron Winklevoss wrote an open letter to him accusing him of defrauding customers. The crypto community woke up to another drama-filled day after the Digital Currency Group (DCG) chief's reflection went wrong. DCG chief Barry Silbert penned a letter to the shareholders on Jan. 10, reflecting on the state of the crypto market and the growing FUD around the company. DCG is the parent company of Genesis Global Capital, a crypto lending firm and Grayscale, the world’s leading crypto asset manager. In the letter , Silbert addressed the growing issues around DCG and its subsidiaries owing to the bear market and FTX contagion. He said that bad actors and the implosion of leading crypto companies have wreaked havoc on the industry and noted that “DCG and many of our portfolio companies are not immune to the effects of the present turmoil.” I’m incredibly proud of the role that DCG & I have played as pioneers & builder...