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Today, we have some intriguing developments to discuss in the world of cryptocurrency and government oversight involving some familiar names. Let’s dive in!
Empower Oversight, Consensys, and Former SEC Chair Jay Clayton
Consensys, a prominent player in the XRP community, has found itself at the center of a recent controversy. In March 2024, Empower Oversight, a US government watchdog, raised concerns about possible ethical violations within the SEC and former SEC Chair Jay Clayton. This all stems from Clayton’s post-SEC involvement with crypto hedge fund One River Asset Management and his advisor role at Electric Capital, an investor in Consensys.
The implications of the Consensys vs. SEC case could potentially shed light on hidden agendas within the SEC and have repercussions on the Programmatic Sales of XRP ruling. It’s a situation worth keeping a close eye on.
Furthermore, the controversy extends to former SEC Director William Hinman, who famously stated that Bitcoin and Ethereum are not securities in 2018. Questions arose about Hinman’s ties to Simpson Thacher, a group with vested interests in Enterprise Ethereum. Despite warnings from the SEC ethics division, Hinman maintained close connections with Simpson Thacher, even after leaving the SEC.
Empower Oversight alleges that Jay Clayton supported Hinman’s statement regarding Ethereum not being a security, adding another layer of intrigue to the situation.
XRP Price Action
As these behind-the-scenes developments unfold, how might they impact the price action of XRP in the near future? Stay tuned to Extreme Investor Network for expert analysis and insights into this unfolding story.
Remember, in the world of investing, knowledge is power. Stay informed with Extreme Investor Network.
