{"id":144342,"date":"2024-12-09T21:00:51","date_gmt":"2024-12-09T19:00:51","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144342"},"modified":"2024-12-09T14:48:31","modified_gmt":"2024-12-09T12:48:31","slug":"ripple-ceo-slams-sec-and-media-coverage-reveals-150m-legal-battle-over-xrp","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ripple-ceo-slams-sec-and-media-coverage-reveals-150m-legal-battle-over-xrp\/","title":{"rendered":"Ripple CEO Slams SEC and Media Coverage, Reveals $150M Legal Battle Over XRP"},"content":{"rendered":"<p>In a candid interview on CBS\u2019s 60 Minutes, Garlinghouse <strong><a href=\"https:\/\/www.cbsnews.com\/news\/crypto-spent-big-money-to-reshape-the-political-landscape-60-minutes-transcript\/\" target=\"_blank\" rel=\"nofollow\">disclosed<\/a> <\/strong>that Ripple has spent over $150 million defending itself against allegations that its cryptocurrency, <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/xrp\/\">XRP<\/a><\/strong>, constitutes an unregistered security. He placed much of the blame for this drawn-out conflict on SEC Chairman Gary Gensler, accusing him of leading a broader \u201cwar on crypto.\u201d<\/p>\n<p>Garlinghouse expressed frustration over the SEC\u2019s stance, stating that he never considered XRP to be a security and questioned the basis of the agency\u2019s actions. The CEO also underscored that Ripple\u2019s legal battle has far-reaching consequences for the entire crypto sector.<\/p>\n<p>To address what he sees as an unfair regulatory environment, Garlinghouse pointed to the formation of Fairshake, a political action committee (PAC) established in 2023 by Ripple and other industry leaders. This group, according to Garlinghouse, was a direct response to Gensler\u2019s policies, which he argues are harmful to innovation and clarity within the crypto industry.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/investing-in-bitcoin-under-1-justin-suns-pioneering-journey-in-crypto\/\" title=\"Investing in Bitcoin Under $1: Justin Sun\u2019s Pioneering Journey in Crypto\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/justin-sun-poloniex-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Investing in Bitcoin Under $1: Justin Sun\u2019s Pioneering Journey in Crypto<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>However, Garlinghouse also expressed disappointment with the media coverage of his company\u2019s legal situation. He criticized 60 Minutes for omitting crucial details, such as a recent court ruling that found XRP is not a security, while allowing a former SEC official to repeat the claim that it could be. He described this as a missed opportunity, adding that such misinformation not only damages Ripple but also undermines the broader cryptocurrency sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple CEO Brad Garlinghouse has publicly addressed the company&#8217;s ongoing legal struggle with the U.S. Securities and Exchange Commission (SEC), revealing the financial toll it has taken.<\/p>\n","protected":false},"author":7,"featured_media":23818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-144342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ripple CEO Slams SEC and Media Coverage, Reveals $150M 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