Ripple CEO Brad Garlinghouse made striking claims about Ripple and Ethereum

Şükriye Akdeniz

Oct 22, 2021

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There are new developments every day in Ripple's ongoing lawsuit with the SEC. After the last statements of the Ripple CEO, the tension increased. Speaking at the DC Fintech Week virtual conference on October 21, CEO Brad Garlinghouse stated that the regulatory clarity that Ethereum, the second-largest crypto, has received from the US Securities and Exchange Commission has allowed it to surpass XRP.
According to Garlinghouse, the SEC provides a free pass to Ethereum and approves regulations that allow ETH to pass XRP.
Garlinghouse stated that his firm made his job difficult and affected the market, adding:
“Over the past few years, XRP has been the second most valuable digital asset. When it became clear that the SEC had given ETH access, ETH exploded, and that clarity helped.”
While XRP was the second-largest crypto-asset by market capitalization in late December 2017, it has now dropped to seventh place, but Ethereum has remained in second place ever since.
Garlinghouse also underlined that the SEC has taken an aggressive stance towards crypto, noting that the SEC claims to protect consumers, but that is not the case:
“There are about 50,000 US people who own XRP trying to sue the SEC for protecting them.”
Garlinghouse added that market forces should determine winners and losers, rather than regulators.

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