- Brad Garlinghouse, CEO of Ripple (XRP) laughs at the SEC.
- XRP is likely days away from winning its lawsuit against the SEC.
- He reminds the crypto community that the SEC is only getting desperate.
The CEO of Ripple Labs calls out the recent moves made by the SEC and its Chair Gensler. Specifically, Brad Garlinghouse says that Gensler’s so called ‘pro innovation’ stance is basically a lie.
Garlinghouse makes this statement as he highlights how the moves that the SEC is making hinders innovation. After all, it has been made clear repeatedly that Gensler’s war against cryptocurrencies will only hurt their growth.
The SEC is the only regulator entity within the USA to still be picking a fight with the crypto industry. Most recently, Genler used the SEC to go after Binance and Coinbase. In detail, the SEC is naming 19 tokens as securities.
This decision was based on the Howey Test which many say is an outdated test to measure the place of digital assets today. As Binance waits for a verdict, and as Coinbase prepares to face the court, Ripple laughs at the SEC.
In particular, Garlinghouse calls the SEC’s more as a show of desperation. In his tweet, he says that it now looks like the SEC is simply throwing lawsuits in every direction and at anyone in their vicinity.
More importantly, Garlinghouse says that the SEC is doing so just to draw the spotlight away from FTX’s fiasco. He also says that it is nothing but embarrassing to watch the SEC, an “unelected bureaucrat” try to grasp at power he so clearly wishes he had.
The CEO of Ripple Labs, who holds great experience in facing down the SEC when it comes to rash lawsuits against crypto, inspired the community. He says the SEC fools no one and indirectly reminds the crypto community that the power lies with the truth.
We shall soon find out in the coming weeks how things will unravel for the crypto community, especially in the USA. This is not the first time that the SEC is being called an embarrassment, will it ever be the last?
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- Source: https://cryptonewsland.com/ceo-of-ripple-xrp-laughs-in-the-face-of-secs-gensler/
