Ripple $2 CEO Brad Garlinghouse backed Elon Musk’s criticism of the U.S. Securities and Exchange Commission (SEC), which resonated throughout the market following SEC Chair Gary Gensler’s recent actions against Musk. This support highlights the ongoing tensions between prominent figures in the tech and cryptocurrency sectors and the regulatory environment they navigate.
Garlinghouse Continues Criticism of SEC
Elon Musk described the SEC as a “political tool” and claimed it was used for “dirty work.” His remarks coincided with a notification sent to Neuralink, sparking reactions from political figures and cryptocurrency advocates alike. Garlinghouse reiterated Musk’s comments, expressing shared frustration with the agency, particularly in light of Ripple’s ongoing legal battle regarding the classification of XRP as a security.
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