Ripple CLO Slams SEC Spending: Is the Govt Wasting Your Tax Dollars?

In a latest X post, Ripple’s CLO, Stuart Alderoty, has urged the newly established Department of Government Efficiency (D.O.G.E) to probe the US SEC spending. 

Stuart recently posted an image of SEC chair Gary Gensler with the caption “Inquiry into Wasted Tax Dollars.” He criticized the SEC for misusing taxpayer funds to enforce its actions and asked the D.O.G.E. to inquire into the estimate of taxpayer money wasted on the SEC’s initiatives. 

He also shared another image of Gensler, this time labeled “Fraud and Deception in AI,” continuing his criticism of what he sees as the SEC’s misuse of funds. This post is part of Alderoty’s ongoing dissatisfaction with the SEC’s approach to regulating cryptocurrencies.

Alderoty’s comments largely target Gensler’s hostile approach toward the crypto sector. In a previous post, he highlighted the SEC’s negative impact on the crypto industry over the past four years, fueling speculation about Gensler’s potential departure from the SEC, which could happen as early as this year.

Tim Draper Discusses Elon Musk and DOGE

In an interview with Money Control, renowned American venture capitalist Tim Draper shared his thoughts on Elon Musk’s involvement with Dogecoin (DOGE). When asked about Musk potentially taking on a leadership role in DOGE, Draper called it a brilliant idea and compared it to Musk’s work with X (formerly Twitter).

“Elon is a gift from the gods. Elon’s extraordinary. I think the idea of a government efficiency expert is really great, because if they cut one government job, that will create three jobs in the private sector,”

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Draper’s Bullish Bet On Bitcoin

Draper also expressed confidence in Bitcoin, calling it the “currency of the future.” Although he couldn’t predict exactly when Bitcoin will take off, he remains optimistic about its potential. He believes Bitcoin could experience a significant increase in value.

“But there’s a gravitation toward Bitcoin. I would buy it at these levels because Bitcoin’s worth $2 trillion or something. But the global currency economy is $100 plus trillion. So there’s no reason Bitcoin doesn’t go up about 30 times from here.”

As Alderoty and Draper continue to challenge the status quo, the world watches closely, waiting to see who will come out on top in this ongoing crypto saga.