Ripple’s Chief Legal Officer, Stuart Alderoty, Sparks Conversation with D.O.G.E. Co-Chair Vivek Ramaswamy
A recent viral photo of Stuart Alderoty, Ripple’s chief legal officer, alongside entrepreneur and Department of Government Efficiency (D.O.G.E.) co-chair Vivek Ramaswamy has stirred up discussions within the cryptocurrency community. The image, shared by Alderoty on social media, comes with a poignant reflection on Ripple’s legal battles with the SEC and the pressing need for accountability. This encounter between the two prominent figures has not gone unnoticed by those closely monitoring Ripple’s journey in the industry.
In his post, Alderoty revisited Ripple’s ongoing legal struggles, particularly its efforts to combat what it perceives as selective enforcement by the SEC under the leadership of Gary Gensler. Earlier this year, Ripple achieved a significant milestone when XRP was finally classified as a non-security, following a long and arduous legal process.
Despite facing a hefty $120 million fine for the sale of unregistered securities, Ripple’s recent legal victory was seen as a pivotal moment for the company. As Gary Gensler prepares to step down as SEC chairman in January, the timing of the meeting between Alderoty and Ramaswamy has raised eyebrows and sparked speculation within the industry.
Now this is one of the more bullish things I’ve seen for @ripple and $XRP. Keep in mind this is the exact same power move as the ETH universe capturing the SEC—except Ripple is (hopefully) going to do it the clean way instead lubin the palms of the SEC. https://t.co/RnLxWD9FSV
— Fred Rispoli (@freddyriz) December 15, 2024
The engagement of Ripple with influential figures like Ramaswamy carries significant implications. Ripple has been under scrutiny amidst allegations of Ethereum-related entities exerting influence on the SEC to favor ETH over XRP during its exponential growth phase.
Is XRP the New Ethereum (ETH)?
Advocates for Ripple’s legal stance often draw parallels between the strategies of Ripple and Ethereum, presenting Ripple as a force for reform rather than seeking preferential treatment. The recent meeting between Alderoty and Ramaswamy could signify Ripple’s efforts to align itself with key policymakers who will play a role in shaping future regulatory frameworks.
It appears that Ripple’s approach is shifting from courtroom battles to engaging in discussions with policymakers. By establishing connections with influential individuals in government, Ripple aims to become a catalyst for positive change within the industry. This strategic shift could indirectly benefit XRP, as the token has already experienced a significant surge of 400% in value over the past month and a half.