The SEC’s Latest Crypto Drama: Crenshaw Doesn’t Hold Back

by

Well, well, well. In a stunning public declaration, SEC Commissioner Caroline Crenshaw has thrown a tantrum over the Commission’s cozy little settlement with Ripple, accusing them of a “tremendous disservice” to retail investors. Oh, the drama! 🍿

The Ripple saga has become a crypto soap opera, as expected. Who doesn’t love a tale of regulatory overreach in the ever-glorious Gensler era? But, plot twist, Ripple’s victory here is actually a win for the entire sector, so let’s not pretend this isn’t a big deal. 🏆

Crenshaw’s Crypto Crusade: SEC Settlement? Not On My Watch

The Ripple vs SEC case has been like a never-ending season finale of a courtroom drama. After much jawing and political wrangling, the Commission finally struck a deal with Ripple, agreeing to return $75 million collected as a previous fee. Sounds great, right? Well, Crenshaw didn’t think so. 🧐

In fact, she sent a scathing letter to the Commission, and no, it wasn’t a love letter. She claimed that if Ripple decides to sell unregistered XRP tokens to institutional investors tomorrow (totally ignoring the court’s orders), the SEC will just sit there and do… absolutely nothing. Hmm, good to know. 🙄

“If Ripple decides tomorrow to sell unregistered XRP tokens to institutional investors—in plain defiance of the court’s order—this Commission will do absolutely nothing about it.” — Commissioner Crenshaw, living for the drama

Let’s not forget that last December, Crenshaw’s attempts at securing another term at the SEC were shot down by a Senate filled with pro-crypto folks. You know, the kind who wouldn’t know a regulation if it hit them in the face with a lightning bolt. ⚡️

Since then, Crenshaw has kept up the fight, channeling her inner Gensler by publicly ripping into the Commission’s crypto-friendly turn. If you like political conflict, this is your Netflix series. 🍿

Her core argument is that the SEC hasn’t exactly restructured crypto policy in the US, and even if they plan to loosen the rules in the future, it doesn’t magically erase the past mistakes. It’s like saying, “Oops, I ate the last cookie, but I promise I’ll be better tomorrow.” It doesn’t work like that, sweetheart. 🍪

Well, the current SEC commission DIDN’T waste taxpayers’ money by reaching this settlement.

It was Gary Gensler, Sen Wizzy Warren, Jamie Dimon, and the rest of the banking cabal who wasted millions of taxpayer dollars using Ripple as the scapegoat in their war on crypto. Classic move. 🤡

— Vincent Van Code (@vincent_vancode) May 9, 2025

Crenshaw’s gripe isn’t that the SEC kissed and made up with Ripple (because that would be too easy). She’s more upset that the Commission didn’t have the proper grounds to cancel its previous judgments. Classic case of “Why are we doing this?” 🙃

She argues that this whole mess is more than just a crypto favor; it’s a direct attack on the SEC’s credibility. The Commission’s lawyers are now playing double agent, publicly opposing their own positions from just a few months ago. The plot thickens… 🍿

Ultimately, Crenshaw believes this chaotic uncertainty will end up hurting retail investors. She’s basically standing alone in her crusade, clinging to Gensler’s philosophy, while the SEC and the crypto world play happily ever after. 😬

“Our agency is, I fear, worried that the appellate court would issue a sound ruling that agreed with the legal arguments already laid out by the Commission. That would undermine the agency’s new apparent mission of dismantling our crypto enforcement program and eroding investor protections. For these reasons, I cannot support our settlement,” Crenshaw added, as if this wasn’t enough to get us all in a tizzy. 🧐

Crenshaw isn’t the only one throwing shade at the SEC’s crypto antics. Senator Elizabeth Warren has also voiced concerns about the Commission’s independence—seriously, when politicians start talking about independence, we know things are getting spicy. 🌶

Under the Gensler era, the SEC’s reputation took a major hit in the crypto community. The regulators were so overzealous they practically needed a leash. But now that crypto has more political power than a caffeine-fueled senator, they might go a little overboard. A balance is needed, folks. We need clarity, sure, but we also need a regulator who isn’t on a wild ride of contradictions. 🎢

Read More

2025-05-10 02:06