The CEO of Ripple, Brad Garlinghouse, has criticized former Securities and Exchange Commission (SEC) Chair Jay Clayton, accusing him of abusing his power during his tenure. This comes after Clayton discussed the regulatory landscape and hinted at the alleged abuse of power by the SEC. Garlinghouse expressed astonishment at Clayton’s remarks, pointing to the initiation of a lawsuit against Ripple during Clayton’s tenure and criticizing its perceived frivolity. Pro-XRP legal experts have also raised concerns about Clayton’s potential conflicts of interest and his recommendations regarding Bitcoin and Ethereum. The ongoing feud between Ripple, Garlinghouse, Clayton, and the SEC highlights the contentious nature of their legal battle and raises questions about regulatory bodies and the trust placed in high-ranking officials. The lawsuit centers around the classification of XRP as a security, with significant implications for the cryptocurrency industry.
AI Sentiment: Negative
