- Bill Morgan says Tenreiro’s firm bio omits Ripple loss while showcasing SEC wins.
- XRP advocate calls SEC’s “XRP as security” theory flawed and unsustainable.
- Morgan criticizes Tenreiro’s Ripple litigation strategy and courtroom tactics.
XRP advocate Bill Morgan has criticized former SEC lead counsel Jorge Tenreiro’s selective presentation of his litigation record after joining Bernstein Litowitz Berger & Grossmann LLP as a partner. Morgan pointed out that Tenreiro’s new firm profile highlights crypto enforcement successes but omits his partial defeat in the SEC vs Ripple case.
Morgan noted the irony that Tenreiro’s bio mentions courtroom victories against Sam Bankman-Fried, Terraform Labs, and Binance but fails to acknowledge losing two-thirds of the Ripple case or filing an appeal that the SEC later agreed to dismiss. The XRP advocate suggested this omission reveals Tenreiro’s awareness that “Ripple succeeded in what matters.”
Legal Strategy and Courtroom Conduct Under Fire
Morgan specifically criticized Tenreiro’s fundamental legal approach in the Ripple case and described his theory that “XRP represented or embodied a security” as “unsustainable.” This strategy backfired by forcing the court to determine that XRP itself was not a security, contradicting the SEC’s broader enforcement goals.
The XRP advocate also referenced what he called Tenreiro’s “ignoble attempt to disparage the character” of attorney John Deaton during court proceedings. This criticism suggests Morgan viewed the former prosecutor’s tactics as crossing professional boundaries in pursuit of a litigation advantage.
Career Move Highlights Regulatory Revolving Door
The transition from SEC prosecutor to private practice partner shows the common career path for regulatory attorneys who develop expertise in specialized enforcement areas. Tenreiro’s experience leading major crypto cases positions him to command premium rates representing clients facing similar regulatory challenges.
Morgan’s sarcastic well-wishes for “the double sack” in his new role show the adversarial relationship that developed during the Ripple litigation. The criticism suggests XRP supporters view Tenreiro’s career advancement as undeserved, given his mixed litigation results.
The selective presentation of achievements in professional bios is common practice, though Morgan’s criticism highlights how such omissions can appear disingenuous to opposing parties who witnessed the full litigation record. The former prosecutor’s decision to emphasize other victories and also avoid mention of the Ripple case’s complex outcome may protect his marketability to potential clients.
Related: XRP Bulls Get a Shield (Legal Clarity) and a Sword (ETFs)
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