The CEO of ripple (XRP), Brad Garlinghouse, says he is very angry with the American Securities and Exchange Commission (SEC) and the way they have behaved in the lawsuit. According to him, the SEC’s actions in the pending case have nothing to do with enforcing the law, but everything to do with amassing more power.
XRP lawsuit
On Twitter, Garlinghouse lashed out at the SEC. According to him, the American regulator shows no remorse for the damage they cause to innocent investors and companies. He therefore argues that SEC chairman Gary Gensler’s policy has nothing to do with being faithful to the law.
“My outrage has grown as the trial progressed. There is no recourse, there is no repercussion for those who filed this lawsuit. The SEC’s pursuit of a political goal is not about “loyalty to the law.” It’s about power.”
My outrage has grown as the litigation has unfolded.
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.
— Brad Garlinghouse (@bgarlinghouse) October 15, 2022
In addition, he is disappointed by the fact that those who have filed the lawsuit will most likely not experience any consequences. According to Garlingshouse, the SEC has even forgotten that as a government agency they are supposed to act on behalf of the American people.
“We should all be furious.”
Garlinghouse made his statements in response to a tweet from a user who noted that the Ripple CEO was increasingly using profanity in his discussions about the lawsuit with the SEC. In response, he said his outrage and anger have increased as the trial progresses.
The lawsuit is nearing its end
Over the past few weeks, there have been regular new developments in the ripple news about the now infamous lawsuit. For example, the Ripple camp had a few big wins booked.
In addition, it seems cautiously that light at the end of the tunnel is beginning to be visible. Garlinghouse takes into account the optimistic scenario that the judge may already have over a few months will make a statement.