​Ripple lawyer suspects collusion between SEC and cryptocurren | Crypto Bubble

​Ripple lawyer suspects collusion between SEC and cryptocurrency lender BlockFi

Sam Bankman-Fried (SBF) arranged the collapse of FTX, which had the most adverse effect on the cryptocurrency market. Cryptocurrency lender BlockFi is believed to be preparing to file for bankruptcy because of it. And Ripple's lawyer saw this as a compromise with the U.S. SEC.

The SEC said in a press release that charges were filed against BlockFi for failing to register sales and offers of its credit product. The commission stressed that this is the first action of its kind taken against cryptocurrency platforms.

Ripple's general counsel Stuart Alderoti found something fishy about the agreement between BlockFi and the SEC. He stated that nothing in the BlockFi/SEC deal was documented and transparent.

He inquired about the first two payments on the $100 million fine and asked if they had been made at all. Ripple's General Counsel urged the SEC to confirm BlockFi's solvency and disclose the source of the funds.