As a seasoned crypto investor who has weathered numerous regulatory storms and market fluctuations, I find Brad Garlinghouse’s stance against Robert Stebbins for the position of SEC Chair particularly resonant with my own experiences. I’ve seen firsthand how regulatory decisions can shape the landscape of our industry, and I firmly believe that a neutral, unbiased leader is essential to fostering a healthy crypto ecosystem.
As an analyst, I find myself aligned with Brad Garlinghouse, the CEO of Ripple, in his critique of Robert Stebbins, a previous General Counsel at the Securities and Exchange Commission (SEC).
In a social media post, Garlinghouse expressed that choosing Stebbings for the position of SEC boss would be highly questionable, given his role in the controversy surrounding William Hinman’s 2018 speech, where Ethereum was labeled as not being a security.
In a pool of highly qualified contenders for the role of SEC Chair, it’s hard to even think about nominating someone who had a hand in the questionable, potentially illegal actions taken by Bill Hinman to favor certain cryptocurrencies over others, according to Garlinghouse.
Lately, Stebbins is being considered among the leading contenders to succeed SEC Chair Gary Gensler. Yet, his nomination has sparked criticism from the crypto sector. This is because Stebbins was personally involved in approving numerous cryptocurrency-related cases when Jay Clayton was the chairman. Some speculate that Stebbins might resemble a second term of Clayton.
Garlinghouse stated that selecting Stebbins is similar to returning us to the initial phase of the regulatory era based on enforcement.
According to U.Today, Ripple’s lead attorney, Stuart Alderoty, made a jab at Stebbings on Monday as well.
As an analyst, I find myself observing that Dan Gallagher, currently serving as Robinhood’s top legal mind, seems to be leading the race in the potential succession of Gensler at the helm of the SEC. According to the insights provided by prediction market Kalshi, he carries a substantial probability of approximately 61%, making him a strong contender for the role.
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2024-11-19 09:08