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.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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