Ripple CEO Brad Garlinghouse has taken to criticizing the U.S Securities and Exchange Commission (SEC) after it declined to postpone the filing of an appeal of the ongoing SEC v. Ripple case. The Garlinghouse also took to social media to express his opinion, similar to what Ripple’s CLO, Stuart Alderoty has been doing.
It comes at a time when the chairman of the SEC, Gary Gensler, is set to leave his position after serving his term. Alderoty singled out that the SEC failed to agree to push the deadline for filing their opening brief back to today, the 15th of January. He said this was just a waste of time and of taxpayer’s money but he is very confident in Ripple current stance of appeal.
Ripple’s Legal Team Confident in Overcoming SEC Appeal
Ripple’s lawyers similarly assured confidence in its ability to overcome the case with the next Gensler. Owning to the confusion, Garlinghouse was quick to blame Gensler for derailing the American public and the 2024 election with a “loss making regulatory through enforcement strategy”.
In another celebrated scenario of stake building transparency breach, the SEC has sued an influential business personality Elon Musk for allegedly delaying to communicate to the public of his significant buying interest in the shares of Twitter Inc in 2022.
The agency further alleges that Musk took 21 days to file his purchase while regulations demand 10 days, during which the share price was manipulated to remain low. After the revelation, Twitter’s shares skyrocketed by over 27 percent.
Even the cofounder of Dogecoin, Billy Markus having his say on the issue, he didn’t fully grasp what the SEC said or accused of. SEC regards, in response, as a ‘totally broken organization’ by Musk.
These cases demonstrate that there are still conflict between the SEC and influential personalities from the crypto and technology industry.
