Brad Garlinghouse Calls Out Gary Gensler!

December 21, 2022 11:16 am Comments

Gary Gensler was recently outed for having numerous secret meetings with disgraced Sam Bankman-Fried and FTX.

This is not the first time troubling connections between Gensler and FTX have been noted…

In response to this, Ripple’s C.E.O., Brad Garlinghouse, called out the obvious preferential treatment by Gensler and the regulatory agency in a recent tweet:

Most seemed to agree that Gary Gensler’s relationship with Sam Bankman-Fried and FTX was highly inappropriate and many pointed to the many connections between Gensler and FTX.

Online sleuths have uncovered a potentially troubling intersection of Caroline Ellison, Bankman-Fried, and Gary Gensler with MIT as the connecting piece:

According to Daily Hodl:

The SEC sued Ripple in late 2020 under allegations that the firm sold XRP as an unregistered security, but the regulator did not launch any investigation into FTX prior to its multi-billion dollar collapse.

According to pro-XRP attorney John E. Deaton, the SEC’s enforcement actions may have punished firms that were skirting regulations, but failed to set any precedents or guidelines.


The Wall Street Journal opinion piece that Garlinghouse was referencing opened up with this:

Securities and Exchange Commission Chairman Gary Gensler is trying to spin the FTX blow-up as a cautionary tale about the crypto “wild West.” But where was the SEC sheriff when Sam Bankman-Fried was funneling FTX customers’ funds to his Alameda Research trading house to finance risky bets and a lavish lifestyle?

“We have robust authorities at the Securities and Exchange Commission and we’re going to use them,” he told the Washington Post. “We’ll also be the cop on the beat, bringing those enforcement actions.” And the commission has—but not against FTX.

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