Stuart Alderoty, Chief Legal Officer of Ripple 
$1 Labs, criticized the U.S. Securities and Exchange Commission (SEC) for exaggerating its enforcement actions for 2024. Alderoty made these comments in a recent post on the social media platform X, arguing that the SEC’s annual assessment is fundamentally flawed.
Concerns Over SEC’s Enforcement Actions
In his statements, Alderoty compared the SEC’s celebration of its record fines to a professor boasting about a high failure rate and significant cheating scandals. He emphasized that such metrics do not reflect success but indicate the failures within the oversight system.
“Celebrating registration penalties is not a success metric—it reveals substantial failures in oversight.”
The SEC reported conducting a total of 583 enforcement actions in the 2024 fiscal year, resulting in $8.2 billion in financial remedies, marking the highest amount in its history. Alderoty further highlighted that SEC Chairman Gary Gensler&rsq...
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