- Yesterday, SEC chairman Gary Gensler was put on the spot by Senator Kennedy in Congress, who questioned him about FTX.
- Pro-XRP crypto lawyer John Deaton believes this to be a farce, stating, “These elected officials are doing a dance for the public.”
- XRP is currently trading hands at $0.8217 after a 4.20% price increase over the last 24 hours.
Pro-XRP crypto lawyer John Deaton took to Twitter earlier today to voice his opinions on the now widely circulated video of the SEC chairman Gary Gensler being grilled by Senator Kennedy in Congress. However, Deaton does not believe in the authenticity of the Senator’s questioning, saying “These elected officials are doing a dance for the public.”
The attorney stated that Senator John Kennedy knew Gensler was in meetings with Sam Bankman-Fried, but refrained from asking questions that needed to be asked. “Why not ask Gensler if its (sic) true that he was close to some sorta short form deal with SBFraud, as rumored?” asked the lawyer.
Deaton also wondered if Gensler was going to turn over the notes and emails and correspondence related to these meetings that he had with Bankman-Fried. It is believed that before the FTX crash, Bankman-Fried and Gensler were in cohorts and that the chairman protected the exchange from regulatory scrutiny.
Why not ask why has Gensler focused on non-fraud cases like @LBRYcom and @Ripple instead of the massive fraud and pump and dump schemes?
Furthermore, Deaton argued that Kennedy merely wanted a “sound bite about a cow out of the barn.” The lawyer asked his followers to notice how Gensler commented that he enjoyed the private meetings with Kennedy before Gensler testified. “It’s all a song and dance. I’m telling you these politicians are mostly the same, whether D or an R is before their name.”
Though it was cause for much celebration in the crypto space, Judge Analisa Torres’s verdict about XRP not being a security did not sit well with Gensler. The SEC Chairman made it clear that he was disappointed with the Judge’s decision. On the other hand, Ripple CEO Brad Garlinghouse expressed his gratitude following a historic victory for the company and the whole US crypto industry.
Meanwhile, data from CoinMarketCap indicates that XRP is currently trading hands at $0.8217 after a 4.20% price increase over the last 24 hours. In addition to this, the remittance token is also still in the green by more than 74% over the last week.
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