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Ripple Labs CEO criticizes U.S. SEC Chair Gary Gensler for his meetings with former FTX CEO, calling them “shameful.”

Ripple CEO against Gary Gensler

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.


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