FOX’s Gasparino Says “SEC Botched Its Regulatory Agenda” By Suing Ripple, Deaton Reacts

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Gasparino releases new comments on the FTX implosion. 

In a tweet today, FOX Business senior correspondent Charles Gasparino slammed the Securities and Exchange Commission for botching its regulatory agenda by suing Ripple instead of the collapsed cryptocurrency exchange FTX. 

“The more I delve into the @SBF_FTX implosion and hear how he met w @SECGov not once but twice, it’s hard not to realize that the SEC really botched its regulatory agenda going after @Ripple over unregistered XRP,” Gasparino said. 

The FOX Business senior correspondent added that the regulator charged Ripple even when it is evident that serious fraud usually resides with cryptocurrency exchanges. 

Attorney Deaton Reacts 

Gaparino’s comment has sparked a series of reactions from members of the cryptocurrency community, especially XRP enthusiasts. 

Reacting to Gasparino’s tweet, XRP community attorney John Deaton said the SEC did not just sue only Ripple but other smaller crypto-related companies like LBRY and Dragonchain. 

And it’s not just @Ripple. The SEC sued @LBRYcom a small company in New Hampshire in another non-fraud case over the #LBC token. Then there’s @dragonchain whose #DRGN token is governed by the Ethereum Blockchain. Don’t forget @KimKardashian. @GaryGensler is an utter failure. https://t.co/gY3oReqXhe

— John E Deaton (@JohnEDeaton1) January 19, 2023

SEC Criticized Over FTX Collapse 

Recall that the SEC has come under widespread criticism for failing to unravel the fraudulent activities happening at the crypto exchange sooner. In November, U.S. Congressman Tom Emmer (R-MN) noted in a Fox Business interview that the implosion of FTX is not a crypto failure. Instead, he blamed Gensler and SBF for the FTX meltdown, which prompted the exchange to file for Chapter 11 bankruptcy protection in November. 

“FTX’s collapse is not a crypto failure. It’s a failure with CeFi, Gary Gensler, and Sam Bankman-Fried,” Emmer said. 

The United States lawmaker also referenced reports that Bankman-Fried met with the SEC in March. Emmer said instead of launching an investigation into FTX’s operations, the SEC was allegedly working to give the crypto exchange special treatment. 

“They were working with Sam Bankman-Fried and others to give them special treatment from the SEC that others aren’t getting,” he said. 

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