Ripple CLO Stuart Alderoty knocked on the door of Elon Musk-led Department of Government Efficiency (DOGE).
Continuing its legal battle with the SEC, Ripple breathed a sigh of relief after Donald Trump won the US presidential election. Pro-crypto Trump announced that he will give Elon Musk a role in the government, which he will take over on January 20. Musk will head the Department of Government Efficiency (DOGE), which will investigate corruption and the like.
Ripple CLO Alderoty filed a complaint against the DOGE with the SEC, the US regulatory agency. Alderoty alleged that the SEC misappropriated taxpayer funds.
The Ripple side is requesting DOGE to audit the spending of the SEC, also known as the Department of Government Efficiency.
The SEC is surrounded: the wave knocks on DOGE’s door.
Notably, a new department, the Department of Government Efficiency (DOGE), has been launched under the leadership of Elon Musk and Vivek Ramaswamy. The crypto ecosystem believes that DOGE will regulate the crypto industry.
The community, which specifically calls for an investigation into the SEC’s restrictions on the crypto sector, calls for the firing of SEC Chairman Gary Gensler.
The DOGE, which audits the spending and liabilities of government agencies, is said to keep the SEC on its radar. Ripple CLO Alderoty claims the money the SEC spends on crypto investigations is inconsistent.
Alderoty, who wanted to reveal the amount spent by the SEC so far, argued that regulatory clarity should be brought to the sector as soon as possible.
Speculation has grown that the SEC will face a decisive defeat in its case against Ripple and SEC Chairman Gensler will be removed from office. These speculations pushed the price of XRP above $1.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
