In the crypto sphere, the SEC isn’t making any friends. Since the beginning of the governmental branch taking a shot at crypto, all gloves have been taken off and the SEC has been accused of mounting a witch hunt.
No one knows this struggle more than Ripple CEO Brad Garlinghouse who is outraged with the SEC and the continued lawsuit against the native token of Ripple-XRP.
My outrage has grown as the litigation has unfolded.
— Brad Garlinghouse (@bgarlinghouse) October 15, 2022
There is no recourse, there is no consequence to those that brought this lawsuit. The SEC’s pursuit of a policy objective isn’t about “a faithful allegiance to the law”. It’s about power.
Feeling Some Kind Of Way
The CEO has decided to let it be known how he really feels about the situation with the SEC stating that the SEC is not faithful to the law but more so just doing this out of spite in a flex of power. He continues b stating that the actions of the SEC affect more than just his company and that the governmental agency has no intention of considering others that are affected by its behavior.
There is no regard for those companies and people that this approach has harmed.
— Brad Garlinghouse (@bgarlinghouse) October 15, 2022
We all should be outraged.
The SEC has clearly forgotten that the government works for the people.
This thread was initially a response to another tweet in which a user showed how amused he was at the fact the CEO was more passionate with the way he spoke about the case.
My outrage has grown as the litigation has unfolded.
— Brad Garlinghouse (@bgarlinghouse) October 15, 2022
There is no recourse, there is no consequence to those that brought this lawsuit. The SEC’s pursuit of a policy objective isn’t about “a faithful allegiance to the law”. It’s about power.
That tweet was in response to a video in which Garlinghouse spoke about how nobody in the rest of the work even cared about what the U.S government thought about crypto which has been a growing sentiment worldwide as each country expresses their own rules and regulations regarding the technology.
“Most ppl outside the United States don’t really care that the SEC is suing us.”
— Cowboy.Crypto (@cowboycrypto313) October 14, 2022
~@bgarlinghouse at DC Fintech 2022
“No one gives a shit.”#XRPArmy #XRP pic.twitter.com/YIH1pzcDJw
Despite all of this Garlinghouse still expects the case to end in the early part of 2023 as the case between both parties is currently in the summary phase.
Some small victories
There have been a few wins for Ripple and XRP during this entire process. The crypto firm recently had the court rule in favor of mandating the commission to release former Director William Hinman’s statement on Ethereum. Some may recall that Hinman was allegedly implicated in accepting bribes to declare ETH a commodity.
Gotta say when #ETHGate dropped I was about at the same place @IOHK_Charles is. He makes many valid points in thread.
— Ben Armstrong (@Bitboy_Crypto) October 9, 2022
However, William Hinman certainly accepted bribes. It’s CLEAR.
My 3 biggest holdings are $XRP, $ADA, & $ETH and I refuse to take sides. They all win.
Judge Analisa Torres also approved the Amicus briefs filed by two third parties (I-Remit and Tapjets) who use Ripple’s blockchain technology as well for all operations.
Another win for Ripple is the rise in price or XRP which has seen a 46% increase over the past month and now trades at $0.47 at the time of this writing.
