Patrick

Chair

Gary

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Ripple CEO Brad Garlinghouse recently&nbsp;<a href="https://x.com/bgarlinghouse/status/1805709954613203193">took aim</a> at US Securities and Exchange Chair Gary Gensler over the latter's comment about cryptocurrency executives going to jail.&nbsp;
"This is a field where the leading lights from a couple of years ago are either in jail, about to go to jail, or awaiting extradition," he said.
Garlinghouse has noted that&nbsp;<a href="https://u.today/gensler-provides-crucial-update-on-ethereum-etf-approval-process">Gensler</a> actually missed the FTX fiasco. Moreover, he even accused the SEC boss of cozying up to FTX founder Sam Bankman-Fried.&nbsp;
This is not the first time that Gensler has faced criticism for his interactions with the infamous entrepreneur. Last year, this issue was brought up by US Rep. Patrick McHenry, chair of the House Financial Services Committee.&nbsp;
Bankman-Fried was sentenced to 25 years in a federal prison in March for his role in multiple fraudulent schemes.&nbsp;
Hundreds of thousands of customers were affected by the exchange's collapse, with many critics pointing fingers at the&nbsp;<a href="https://u.today/sec-issues-urgent-crypto-scam-warning">SEC</a> since it was too late to the game to stop this disaster.
Following the collapse of the FTX exchange, Garlinghouse said that regulators are supposed to&nbsp;<a href="https://u.today/ripple-ceo-believes-regulators-should-make-it-harder-to-pull-off-ftx-style-scams">disincentivize</a> "horrible behavior" in order to make sure that it would be more challenging to pull off scams of the likes of FTX.
In his most recent social media post, Garlinghouse also commented on Binance's settlement with the Department of Justice. He has noted that the SEC wasn't even invited to the announcement about the exchange.

Ripple CEO Takes Jab at Gensler Over "Slander"

U_Today

Other articles published on Jun 26, 2024

Celsius Bankruptcy: Creditors Seek Millions in Lost Crypto Value

German Authorities Sell $15M More In Seized Bitcoin

Argentinian President Javier Milei Advocates For Bitcoin, Opening Doors To Digital Currency Revol...

Ethereum Supply Faces Inflationary Phase Due to Dencun Upgrade

Rug Pull Shock in Solana: Million Dollar Sale in New Memecoin Drops Price by 99 Percent!

Just-In: Worldcoin Teams Up With Alchemy To Launch World Chain

Join our free newsletter for daily crypto updates!