In a recent appearance on 60 Minutes, Ripple CEO Brad Garlinghouse did not mince words. He revealed the company's lengthy struggle with the SEC, including a stunning $150 million in legal bills. Garlinghouse accused SEC Chairman Gary Gensler of waging a "war on crypto."
The CEO expressed amazement that XRP had been classified as a security. "I believe I am quite clever about questions like, 'What is security?' "I never considered the possibility that XRP is a security," he said.
Garlinghouse emphasized Ripple's participation in founding Fairshake, a super PAC that advocates for fair crypto regulation. He underlined that the sector wants clear rules, not deregulation. However, Garlinghouse expressed disappointment with the 60 Minutes coverage. He stated that critical data were hidden, such as a federal judge's finding that XRP is not a security.
The interview's impact spread throughout the market. The price of XRP fell 5% in 24 hours to $2.40. Despite this, Garlinghouse emphasized that the war is about more than money. It is about securing cryptocurrency's position in the global economy.
