Brad Garlinghouse, chief executive officer of Ripple Labs Inc., speaks during the Token2049 conference in Singapore, on Wednesday, Sept. 13, 2023.
Joseph Nair | Bloomberg | Getty Images
Ripple CEO Brad Garlinghouse fired off criticism at U.S. Securities and Exchange Commission Chairman Gary Gensler on Tuesday, calling the SEC chief a “political liability” amid an ongoing lawsuit.
The crypto startup is fighting the SEC over allegations that the firm and its executives illegally sold XRP tokens in unregistered securities sales. A case against Garlinghouse and fellow executive Chris Larsen was dismissed in October.
The SEC did not immediately respond to a CNBC request for comment.
“One of the definitions of insanity is doing the same thing over and over again and expecting a different outcome,”
I think Gary Gensler is doing the same thing over and over again and he thinks that somehow he’s going to win in court, he has continued to lose in court.
Gary Gensler is a political liability in the United States. And I think he’s not acting in the interests of the citizenry, he’s not acting in the interests of the long-term growth of the economy, and I don’t understand it.”
“I think at some point there will be a new chair of the SEC and I think that will be a good thing for the American people.”
The SEC in
This breaking news story is being updated.