General Counsel Of Ripple Says FTX Venture Investors Should Challenge SEC

Stuart Alderoty, General Counsel of Ripple, thinks venture capitalists should challenge the SEC instead of waiting for users to get their money back from the collapsed exchange FTX.

US watchdogs have been putting a lot of pressure on Sam Bankman-Fried (SBF) to be held accountable for fraud and other plots since the Bahamian authority arrested him.

The SBF did, however, raise $1.8 billion from equity investors in May 2019 in order to carry out the accused conduct, according to the SEC.

Kevin O’Leary recently told CNBC that the FTX stockholders, including him, might not receive anything in return. This is understood by the venture capitalists who lost their money, he continued.

Before, the people who had money in their accounts had it back, according to Kevin, he doesn’t want anything back.

Alderoty responded by saying that Kevin and every other FTX venture investor should sue the SEC. They ought to call for the SEC to stop using public dollars to pursue its tag-along case against SBF.

The SEC complaint against SBF, according to the counsel for Ripple, is a case to recover money on their behalf. He had said that the allegations brought by the commission against the former CEO of FTX were only a tag-along. They don’t want the users’ money to be retrieved despite the court-filed bankruptcy, though.

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Harold

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