According CNBCRipple CEO Brad Garlinghouse on Tuesday criticized US Securities and Exchange Commission (SEC) Chairman Gary Gensler, calling him “political responsibility“.
According CNBCRipple CEO Brad Garlinghouse on Tuesday criticized US Securities and Exchange Commission (SEC) Chairman Gary Gensler, calling him “political responsibility“.
The Ripple CEO highlights the SEC’s losing streak, stating, “I think Gary Gensler is doing the same thing over and over again and thinks he’s going to win in court somehow. He’s kept losing in court.”
“One of the definitions of insanity is doing the same thing over and over again and expecting a different result,” Garlinghouse said, referring to what he perceives as Gensler’s current anti-crypto campaign.
The SEC filed charges against three major cryptocurrency exchanges (Binance, Coinbase and Kraken) last year, alleging that they sold unregistered securities on their crypto platforms. The trials are still pending.
The SEC filed a complaint against Ripple in December 2020, alleging that the company and its executives sold XRP coins through unregistered securities offerings.
Ripple scored a significant victory in SEC litigation in July last year, when a court ruled that XRP is not a security as a matter of law. In October, the SEC’s request to file an interlocutory appeal was also denied. That same month, the SEC dropped all remaining charges against Ripple CEO Brad Garlinghouse and CEO Chris Larsen.
Ripple’s lawsuit is now in the remedies phase, and all related discovery must be completed by February 12 and filings attached below.
Meanwhile, Ripple recently filed a Motion to Extend Time, requesting two additional days, until January 19, to respond to the SEC’s Compel Motion.
