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3 degrees of XRP: former SEC Chair Jay Clayton sued Ripple same day he left; SEC Chief Crypto Enforcer leaves office same day Ripple case is appealed; SEC served subpoena on Do Kwon AT MainNet 3 years ago. @bgarlinghouse @s_alderoty are you at MainNet right now? #Mainnet2024
Actual footage of the SEC Enforcement Director dropping off his letter of resignation two hours before the Ripple appeal. https://t.co/p6wwUaqaoN
Would bet that the SEC’s Head of Enforcement leaving was either 1) because he disagreed with Gensler on appealing Ripple Or 2) he was the sacrificial lamb for Debt Box https://t.co/mbG2v7kWwB
The SEC's Director of the Division of Enforcement has resigned abruptly, just hours before the Ripple appeal, with no replacement lined up. This unexpected departure, occurring after nine days' notice, has raised questions about the reasons behind it, with speculations ranging from disagreements with SEC Chair Gary Gensler on the Ripple appeal to being a scapegoat for the Debt Box issue. The resignation follows a series of legal challenges and defeats for the SEC, including the lawsuit against Ripple initiated by former SEC Chair Jay Clayton. The crypto community is now questioning the impact of this leadership change on the future of cryptocurrency regulation.