Brad Garlinghouse, head of Ripple, recently shared his perspective via a tweet about the SEC’s recent decision in the ongoing legal battle between the SEC and Ripple.
Discussing Stuart Alderoty’s latest post, where he, as Ripple’s Chief Legal Officer, expressed his thoughts on the Securities and Exchange Commission’s recent action in their ongoing case.
As Gary Gensler’s tenure as the chairman of the SEC approaches its final stages, this event transpired.
Garlinghouse slams current SEC boss
Although Stuart Alderoty stated that the “crypto-related battle at the SEC” under Chair Gensler will conclude in ten days, the regulatory body has refused to delay the submission of their initial argument for their appeal against Ripple’s recent court victory.
The deadline for that has already passed, it was January 15 – the very same day we’re on now. In response to the SEC’s denial, the Ripple Chief Legal Officer remarked: “Such a squandering of time and public funds!
He expressed his belief that Ripple remains secure in its existing stance during the appeal, and the group eagerly anticipates collaborating with the newly appointed SEC head to resolve this issue.
As a dedicated researcher, I remain steadfast in my commitment to my regulatory approach, even amidst the approaching 2024 election and the vibrant public discourse that surrounds it. While I understand the enthusiasm and anticipation surrounding the election, my focus remains on the path I have chosen – the ‘regulation-by-enforcement agenda.’ Regardless of the challenges ahead, I am determined to see this journey through to its conclusion. #Determined
— Brad Garlinghouse (@bgarlinghouse) January 14, 2025
In response to Gary Gensler’s actions, Ripple’s CEO criticized him directly, stating that Gensler “fits his image” perfectly. The SEC leader, according to this critique, appears to be indifferent towards the 2024 election and the opinions of the American public, and remains steadfast in pursuing his controversial “enforcement-based regulation strategy,” even to its full extent.
SEC sues Elon Musk, Dogecoin founder reacts
The Securities and Exchange Commission (SEC) filed a lawsuit against tech mogul Elon Musk last year, alleging that he failed to promptly disclose his significant ownership of Twitter shares prior to acquiring the social media platform, with plans to eventually rename it ‘X’.
The SEC argued that Elon Musk delayed disclosing his Twitter stock purchase for an additional 11 days, selling them at allegedly reduced prices. They emphasized that following the revelation of his stake, Twitter’s share price jumped significantly, exceeding a rise of over 27%.
Billy Markus, a friend of Elon Musk and one of the co-creators of Dogecoin, posted a tweet criticizing the Securities and Exchange Commission (SEC). However, it appears there was some misunderstanding in his post as he claimed the SEC filed a lawsuit against Musk for buying Twitter at an artificially low price. In actuality, the concern seems to be about the share purchase rather than the overall acquisition price of Twitter.
It appears that the SEC (Securities and Exchange Commission) is taking legal action against Elon Musk, claiming that he purchased Twitter at an unjustifiably low price of around $44 billion. However, industry experts estimated its true value to be closer to $30 billion.
— Shibetoshi Nakamoto (@BillyM2k) January 14, 2025
In response to his tweet, Elon Musk voiced his disapproval of the regulatory body, labeling it as a “completely dysfunctional institution.
Completely dysfunctional institution, with a focus on trivial matters instead of addressing the numerous serious crimes left unresolved.
— Elon Musk (@elonmusk) January 15, 2025
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2025-01-15 13:02