Ripple CEO Brad Garlinghouse has openly criticized the U.S. Securities and Exchange Commission (SEC) after its opening brief submission in the appeal against Ripple. In a social media post , Garlinghouse mocked SEC Chair Gary Gensler, stating, “One definition of insanity….Doing the same thing over and over and expecting different results. Gensler’s SEC really took this to heart.” One definition of insanity…. Doing the same thing over and over and expecting different results. Gensler's SEC really took this to heart. https://t.co/giV8GiW6qV — Brad Garlinghouse (@bgarlinghouse) January 16, 2025 SEC Challenges District Court Rulings The SEC’s brief focuses on disputing the district court’s conclusions regarding the applicability of the Howey Test to Ripple’s transactions involving XRP. Specifically, the SEC contends that the lower court was mistaken in determining that Ripple’s offers and sales of XRP did not meet Howey’s criteria for an expectation of profits. Additionally, the SEC asserts that transactions involving XRP in exchange for non-cash consideration should have satisfied the investment-of-money prong of the test. The regulatory agency urged the appellate court to overturn the district court’s final judgment and summary judgment favoring Ripple , particularly about sales and offers made to retail investors. Legal Community Responds Ripple’s legal team and other legal commentators have downplayed the significance of the SEC’s appeal. Stuart Alderoty, Ripple’s chief legal officer, described the filing as “just noise,” reinforcing his confidence in Ripple’s position. Apro-XRP attorney Jeremy Hogan criticized the SEC’s approach, stating , “I honestly found the brief lackluster – almost as though the drafter knew he was wasting his time. For example, almost half the brief was spent just reiterating what the trial court ruled.” There is speculation within the XRP community that the appeal may not progress under the incoming administration, which could signal a shift in regulatory priorities. Alderoty has expressed optimism, hinting that the case might be dropped altogether. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 XRP Price Surges Amid Broader Developments In a significant market development, XRP crossed the $3 mark for the first time in seven years. This price surge followed a Reuters report indicating that the SEC is considering pausing non-fraud-related crypto enforcement actions as part of an anticipated policy change. Despite the ongoing appeal, XRP’s resilience has been evident in the market. One user on X (formerly Twitter), identified as pro09, commented on Garlinghouse’s post, stating, “Doesn’t matter…..#XRP almost @ ATH with the appeal dragging behind, with FUD, with the corrupt SEC, with hostile administration (still) etc…..just imagine when all this weight is lifted and we start thrusting the engines….” Ripple’s CEO Maintains Confidence Garlinghouse’s public statements highlight his continued criticism of the SEC’s approach to cryptocurrency regulation. His recent remarks echo Ripple’s longstanding position that the SEC’s enforcement actions against the company lack merit. As the case unfolds, the outcome of this appeal is being closely watched by both the crypto and legal communities. While the SEC is determined to challenge the district court’s rulings, Ripple and its supporters remain confident that the case will ultimately end in their favor. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Ripple CEO Slams Gensler’s SEC Over Latest Move appeared first on Times Tabloid .
