XRP Advocate Calls Out Former SEC Counsel for Selective Presentation of Litigation Record
XRP advocate Bill Morgan has recently called out former SEC lead counsel Jorge Tenreiro for his 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 his successes in crypto enforcement but conveniently omits his partial defeat in the SEC vs Ripple case.
Morgan highlighted the irony of Tenreiro’s bio boasting about courtroom victories against prominent crypto entities like Sam Bankman-Fried, Terraform Labs, and Binance, while completely ignoring his significant losses in the Ripple case. This omission, according to Morgan, indicates Tenreiro’s acknowledgment that “Ripple succeeded in what matters.”
Legal Strategy and Courtroom Conduct Under Scrutiny
Morgan specifically criticized Tenreiro’s legal approach in the Ripple case, particularly his theory that “XRP represented or embodied a security,” which Morgan deemed as “unsustainable.” This strategy ultimately backfired, leading the court to determine that XRP itself was not a security, contradicting the SEC’s broader enforcement objectives.
The XRP advocate also called out Tenreiro’s alleged attempt to disparage attorney John Deaton’s character during court proceedings, suggesting that the former prosecutor’s tactics crossed professional boundaries in pursuit of a litigation advantage.
Career Move Highlights Regulatory Revolving Door
The transition from SEC prosecutor to private practice partner exemplifies the common career trajectory for regulatory attorneys specializing in enforcement areas. Tenreiro’s experience in leading major crypto cases positions him to represent clients facing similar regulatory challenges at premium rates.
Morgan’s sarcastic remarks about Tenreiro’s career advancement reflect the adversarial relationship that developed during the Ripple litigation. XRP supporters view Tenreiro’s promotion as undeserved, given his mixed litigation results.
Selective Presentation of Achievements in Professional Bios
The selective presentation of achievements in professional bios is a common practice, but Morgan’s criticism sheds light on how such omissions can come across as disingenuous to opposing parties familiar with the full litigation record. Tenreiro’s decision to highlight other victories and sidestep the complexities of the Ripple case’s outcome may enhance his marketability to potential clients.
In conclusion, the XRP advocate’s critique underscores the importance of transparency and accountability in legal proceedings, especially in high-profile cases like the SEC vs Ripple. It serves as a reminder for legal professionals to uphold ethical standards and integrity in their practice.
*Disclaimer: The information provided in this article is for informational and educational purposes only. It does not constitute financial advice or any other form of advice. Readers are advised to exercise caution and seek professional advice before making any financial decisions.