Ripple CEO Accuses US Regulator of ‘Hypocrisy’ on Twitter
Ripple CEO Brad Garlinghouse took to Twitter to express his criticism of the US Securities and Exchange Commission (SEC) for what he perceives as hypocrisy in their public statements regarding the cryptocurrency industry. In a tweet on Tuesday, Garlinghouse shared a meme from The Office featuring a character looking confused, accompanied by a direct message to the SEC. Garlinghouse pointed out the irony of being an unelected bureaucrat who consistently shares opinions and insights through various mediums, such as weekly videos and speeches, only to then assert that no one should consider their statements as guidance. He called attention to the inconsistency in the SECs actions and statements, highlighting what he sees as a lack of reliability. By utilizing social media and referencing a popular television show, Garlinghouse aimed to convey his discontent with the SECs approach and shed light on what he perceives as a double standard within the regulatory agency. Garlinghouse expressed additional concerns in response to the frustrations voiced by Paul Grewal, Coinbases Chief Legal Officer, who stated on Monday that the SEC has deemed public statements made by its Chair, Gary Gensler, as “not formal guidance.” Coinbase has formally requested a response from the SEC regarding its petition submitted in