Ripple's Chief Legal Officer Stuart Alderoty described U.S. Securities and Exchange Commission Chair Gary Gensler as "a struggling liability" — as the hype surrounding the potential approval of spot ether exchange-traded funds grows.

In response to a discussion about the SEC becoming a hot topic of pre-election discourse, Alderoty wrote on X that "Gensler overplayed his hand."

"He thought crypto was an easy target," Alderoty said, adding, "He relished being the guy that everyone loved to hate. He thought he was above Congressional oversight. That's all gone. He's now a struggling political liability."

This opinion — which has long been mirrored by many others in the crypto industry — follows an apparent and abrupt shift in sentiment from Democrats ahead of November's elections.

Some …