According to the latest reports, it seems that Ripple CEO has some tough words about the latest events involving Gary Gensler and SBF. Check out the data below.
Ripple CEO addresses interesting issues
It’s been just revealed that the chief executive of Ripple Labs says that former FTX CEO Sam Bankman-Fried’s meetings with U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler were “shameful.”
Responding to an opinion piece by the Wall Street Journal questioning Gensler’s failure to foresee the FTX collapse, Brad Garlinghouse explained the fact that it was shameful that the SEC chair was caught off-guard by the debacle, even after meeting with Bankman-Fried multiple times.
“It’s ridiculous and frankly shameful that Chair Gensler was touting the SEC’s enforcement actions as the ‘cop on the beat,’ yet (per public reports) MET with [Sam Bankman-Fried] multiple times, but was caught completely flat-footed when the alleged fraud finally came to light.”
Just to refresh your memory, the SEC sued Ripple in late 2020 under allegations that the firm sold XRP as an unregistered security. The SEC didn’t launch any investigation into FTX prior to its multi-billion dollar collapse.
Ripple to win from the XRP and SEC battle
A crypto legal expert says he sees a complete and total victory for Ripple over the U.S. Securities and Exchange Commission (SEC) as the most likely outcome of the XRP lawsuit.
Just to refresh your memory, the SEC sued Ripple in late 2020, alleging that the payments firm sold the crypto asset XRP as an unregistered security.
Attorney Jeremy Hogan said recently that he sees Ripple coming out victorious at summary judgment as he believes XRP was not sold as a security.
He believes that there are two bases for this outcome. He made sure to explain the fact that the first basis is that Ripple had no legal obligation to buyers of XRP after the sale took place.