Connect with us
Active Currencies 11247
Market Cap $1,555,404,499,318.40
Bitcoin Share 49.75%
24h Market Cap Change $1.15

Brad Garlinghouse: SEC Chair ‘pursuing politics,’ not ‘policy’

2min Read

Ripple CEO Brad Garlinghouse calls the SEC Chair a “bully” during a chat at the Messari Mainnet 2023 event. Moreover, he speaks about looking to hire outside the U.S.

Brad Garlinghouse: SEC Chair 'pursuing politics,' not 'policy'

Share this article

  • Ripple looked at offshore destinations like the UAE, UK, and Singapore for hiring.
  • Despite SEC’s appeal of the verdict, XRP looked safe until at least 2025. 

Ripple Labs [XRP] CEO Brad Garlinghouse has been one of the most vocal critics of the U.S. Securities and Exchange Commission (SEC) ever since the payments-focused company was sued by the regulator nearly three years ago.

Read Ripple’s [XRP] Price Prediction 2023-24

Garlinghouse has minced no words in denouncing the SEC, more specifically current chairperson Gary Gensler, in public forums.

SEC Chair called a “bully”

Staying true to his tirade, Ripple’s CEO called the SEC Chair a “bully” during a chat at the ongoing Messari Mainnet 2023 event. Garlinghouse’s comments were reported by Fortune Magazine’s senior journalist, Jeff Roberts.

The overall mood in the XRP circles has been upbeat ever since the partial win in the hotly contested legal battle against the SEC. The judgement ruled that the sale of XRP to the public was not to be considered as a security.

However, the sale of XRP to institutional investors constituted a security.

Ripple looks outside the U.S.

Despite the relief, Garlinghouse hasn’t been optimistic about the future of cryptos in the U.S. Quoting him, pro-Ripple attorney John E Deaton said on X (formerly Twitter) that the company looked at offshore destinations like the UAE, UK, and Singapore for hiring.

Given what has happened in recent weeks, this should come as no surprise. In a recent interview to Bloomberg, Brad Garlinghouse had stated that Ripple would source more than 80% of its human talent from outside the U.S., a telling reminder of the sentiment carried by crypto behemoths for the American market.

Is your portfolio green? Check out the XRP Profit Calculator

XRP is safe… for now

At the time of publication, XRP exchanged hands at $0.5084, according to CoinMarketCap. The coin has effectively reversed all the gains made after the SEC verdict due to factors other than regulatory pressure.

However, what keeps XRP investors hopeful is that the judgement would be legally binding on all stakeholders for at least two years. This could give ample time for XRP to consolidate and prepare for the potential bull market of 2024.


Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains. His focus lies on the intersection between cryptos and traditional finance. He prefers DC over Marvel, cats over dogs and Hyderabadi Biryani over Kolkata Biryani.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.