Ripple CEO Brad Garlinghouse sharply criticized the U.S. Securities and Exchange Commission (SEC) in a recent social media post. Following the SEC’s decision to pause allegations that the native crypto assets of Solana (SOL), Cardano (ADA), and Polygon (MATIC) are unregistered securities in its ongoing lawsuit against Binance, Garlinghouse took to X to share his thoughts and call out the SEC’s inconsistent regulatory approach.
Garlinghouse tweeted, “More evidence of SEC hypocrisy. Chair Gensler testifies the rules are clear, yet his SEC can’t figure them out and applies them haphazardly.”
Ripple CEO Brad Garlinghouse sharply criticized the U.S. Securities and Exchange Commission in a recent social media post.
Ripple in the Wake of the SEC Complaint Amendment
The SEC announced its intention to amend its complaint involving Binance. This decision could potentially offer temporary relief to SOL, ADA, and MATIC, which were under intense scrutiny and facing delistings from trading platforms due to regulatory uncertainty.
Despite the ongoing legal dispute between the two parties, the statement did not reference Ripple (XRP). The SEC accused Ripple and its executives Brad Garlinghouse and Christian Larsen of selling unregistered securities, specifically XRP, worth over $1.3 billion to the public.
The SEC’s motion to amend is due within 30 days of the court’s scheduling order. This provides a brief respite for investors in SOL, ADA, and MATIC. Garlinghouse’s critique highlights ongoing concerns about regulatory clarity and consistency in the crypto industry, especially with Gary Gensler in control.
