SEC Enforcement Director Gurbir Grewal has announced his resignation effective October 11, 2024. His departure coincides with the SEC filing an appeal in the case against Ripple. 🏛️

Sanjay Wadhwa will be an interim replacement, with Sam Waldon taking his place. Lawyers and crypto experts, including Jake Chervinsky, have expressed concern about the "abnormal" timing of Grewal's resignation.

Lawyer Jeremy Hogan believes that the appeal may be a mistake, as the SEC risks losing. Even if it wins, Ripple will only pay more fines without any additional protection for investors.