In a recent development, Ripple CEO Bradley Kent Garlinghouse has publicly criticized Gary Gensler, the Chairman of the United States Securities and Exchange Commission (SEC), accusing him of hypocrisy in his attempts to regulate cryptocurrencies. Garlinghouse took to social media platform X (formerly Twitter) to label Gensler a hypocrite and accuse him of being involved in unverified fraudulent activities.
This criticism from Garlinghouse comes in response to a post by Gensler where the SEC Chairman expressed concerns about fraud and bad actors in the crypto industry. The ongoing legal battle between the SEC and Ripple adds further tension to the relationship between Garlinghouse and Gensler.
The SEC’s recent enforcement actions on cryptocurrency exchanges and companies have strained the relationship between Ripple and the regulatory body. Garlinghouse has previously stated that the SEC has lost sight of its mission to protect investors and has hindered innovation in the crypto space.
Many members of the crypto community have expressed their disapproval of Gensler’s approach towards cryptocurrencies, with some labeling him a hypocrite and accusing him of hindering financial evolution in the US. They argue that other countries, particularly in Europe and Asia, are more open to adopting cryptocurrency technology.
The ongoing legal battle between the SEC and Ripple is expected to bring more clarity to the lawsuit and potentially lead to a settlement. However, the relationship between Garlinghouse and Gensler remains tense, with Garlinghouse openly criticizing Gensler’s actions and accusing him of hypocrisy.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | negative |
| Relevance Score | 1 |
| People | Bradley Kent Garlinghouse, Judge Analisa Torres, Gary Gensler |
| Companies | Ripple, SEC Chair, United States Securities and Exchange Commission (SEC), XRP, Wall Street |
| Currencies | XRP |
| Securities | None |
