Ripple CEO Brad Garlinghouse has recently found himself at the center of a public clash with John Reed Stark, a former U.S. Securities and Exchange Commission Official.
After Garlinghouse’s interview with 60 Minutes, he went on the social media platform X to respond to the Stark 60 Minutes interview, leading to a back-and-forth between the two.
The disagreement started when Garlinghouse accused Stark of spreading false information, especially a recent court ruling that XRP is NOT a security. He also didn’t hold back, slamming the media for leaving out key details in their coverage. He took to X (formerly Twitter) to say, “The media left out crucial facts,” referring to the judge’s decision in the ongoing legal issue between Ripple and the SEC.
Stark denied Garlinghouse’s accusation of being a “shill” for SEC Chairman Gary Gensler. He clarified that while he holds a strong opinion about crypto, he believes the SEC’s enforcement actions should come to an end.
Stark believes halting these actions could help bring clarity to the industry. Garlinghouse, however, stated that while Stark might not be a Gensler supporter, the arguments sounded too much like the SEC Chair.
In the interview, Stark had made some bold statements about the cryptocurrency market, claiming it facilitates crime and has little real-world use. Garlinghouse responded, saying that the problem isn’t the crypto itself but rather the SEC’s crackdown. “The SEC’s role in cracking down on the market is the major challenge,” he said.
Ripple’s involvement in the political landscape was another major topic during the 60 Minutes segment. It has donated $25 million to the pro-crypto Super PAC Fairshake, which supports candidates who back digital assets. This push for political allies paid off in the last election, where crypto-friendly voters helped secure Republican wins.
Meanwhile, the future of crypto regulation could soon shift as the SEC prepares for new leadership. With President-elect Donald Trump nominating pro-crypto Paul Atkins to head the SEC, Garlinghouse is hopeful that the agency will take a more balanced approach starting next year.
Also Read: Ripple VS SEC: What Happens Next as Gensler’s Term Ends?
