Dispute Between Financial Leaders: Ripple CEO Brad Garlinghouse Takes Aim at SEC Chairman Gary Gensler
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Ripple CEO Brad Garlinghouse Takes Swipe at SEC Chairman Gary Gensler
In a recent tweet, Elon Musk, the billionaire CEO of SpaceX and Tesla, labeled the Securities and Exchange Commission (SEC) as a “totally broken organization.” This comment has sparked a wave of controversy in the crypto community.
Musk’s statement comes after SEC Chairman Gary Gensler announced his intention to fight Ripple Labs Inc. until the “bitter end” over its XRP token sale. Gensler claimed that the company raised funds without registering with the commission, which is a violation of federal securities laws.
Ripple CEO Brad Garlinghouse responded to Musk’s tweet by slamming Gensler and the SEC for their actions against Ripple. He emphasized that there are more pressing issues in the financial sector that require attention from regulatory bodies, rather than focusing on “frivolous” lawsuits.
“We spend our time on this shit when there are so many actual crimes that go unpunished,” Garlinghouse tweeted.
The exchange highlights the ongoing tensions between Ripple and the SEC. The case has been going on for some time now, with Ripple arguing that its XRP token is not a security and should be exempt from federal securities laws.
As the debate rages on, it remains to be seen how this situation will unfold.
Source: u.today
