Ripple Labs CEO Brad Garlinghouse has criticized U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler for his meetings with former FTX CEO Sam Bankman-Fried, calling them “shameful.”
In response to an opinion piece by the Wall Street Journal, Garlinghouse questioned how Gensler could have been caught off-guard by the FTX collapse, despite meeting with Bankman-Fried multiple times.
The SEC sued Ripple in late 2020 for allegedly selling XRP as an unregistered security, but did not launch any investigation into FTX prior to its multi-billion dollar collapse.
Bankman-Fried has been accused of and charged with fraud, mishandling customer funds, and making illegal campaign donations, and was recently arrested in the Bahamas.
