According to Odaily, as speculation around the approval of an Ethereum spot ETF continues to heat up, Ripple's Chief Legal Officer, Stuart Alderoty, has described the US SEC Chairman, Gary Gensler, as a 'struggling political burden'. In response to discussions about the SEC becoming a hot topic before the election, Alderoty stated on platform X that 'Gensler is overly confident. He sees cryptocurrency as an easy target. He is happy to be the person everyone loves and hates. He believes he is not subject to congressional oversight. All of this has disappeared. He is now a struggling political responsibility.'
This viewpoint has long been agreed upon by many others in the crypto industry and emerged after a noticeable and sudden shift in Democratic sentiment before the November elections. Some people claim that the US SEC's sudden request for trading platforms to modify their Ethereum ETF registration documents indicates that as the industry plays an increasingly larger role in securing votes, the US SEC wants to appear more friendly towards cryptocurrencies.