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Ripple’s Chief Legal Officer (CLO) Stuart Alderoty has taken a swipe at The New York Times’ bias against cryptocurrency. Speaking in his capacity as the president of the National Cryptocurrency Association (NCA), Alderoty claims he has written to the news outlet over a report that referred to crypto as "pointless and full of scammers."
Stuart Alderoty frames crypto as everyday economic infrastructure
Alderoty described The New York Times article as a "lazy and outdated" view about cryptocurrency. In defense of the sector, he argued that crypto has been supporting millions of Americans to improve their financial situation. He also stated that millions rely on crypto to run their businesses and pay for goods and services conveniently.
He emphasized his point by sharing a video of everyday users sharing their experiences with crypto and how they use the technology for positive impacts.
Alderoty challenged The New York Times to get the facts right by accessing needed information from the NCA. He expressed willingness to furnish the media outlet with whatever information about crypto that is unclear to it.
The NCA president is effectively positioning crypto as economically useful and not just for speculative trading. Alderoty has always been a strong advocate for the crypto community, particularly in his role as Ripple CLO.
He was particularly vocal during the five-year legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple. Alderoty consistently challenged the categorization of XRP as a security until it resulted in a legal win for Ripple.
Hence, it is not surprising to see him take on a mainstream media giant such as The New York Times. Alderoty’s bold confrontation of the renowned traditional media outlet as out of touch is likely to prompt a rethink and possibly a second critical look at the impact of crypto to everyday citizens in America.
He has also positioned the NCA as an authority that should be consulted if the media organization desires to redo a more balanced reportage of crypto.
Ripple CLO's policy push extends to stablecoin and yield debate
It is worth mentioning that Stuart Alderoty's influence extends beyond just Ripple. Recently, he joined forces with other critical stakeholders from Wall Street and notable crypto leaders to attend a meeting at the U.S. White House.
The goal of that meeting was to resolve issues surrounding stablecoin yields and break the deadlock stalling progress on crypto legislation.
Alderoty was there to advance the course of crypto and point out that restricting yields was an unfair advantage to traditional banks.