Ripple CEO Criticizes U.S. SEC..."Definition of 'Insanity'"

Brad Garlinghouse, CEO of Ripple, sharply criticized the U.S. Securities and Exchange Commission (SEC) on the 16th.

CEO Garlinghouse stated on X that day, "One definition of insanity is doing the same thing over and over and expecting different results," adding, "Gary Gensler's SEC is thoroughly practicing this." Gensler, the current SEC Chairman, will resign on the 20th when U.S. President-elect Donald Trump takes office.

Garlinghouse's remarks are interpreted as being in consideration of the SEC's appeal against the first trial ruling on Ripple. On the 15th (local time), the SEC submitted a preparatory brief for an appeal against the first trial ruling on Ripple to the U.S. court. Previously, in August last year, a U.S. court ruled that Ripple must pay a fine of $125 million.

Ripple expects the legal dispute with the SEC to be resolved under the second Trump administration. Stuart Alderoty, CLO of Ripple, stated on X that day, "The SEC's preparatory brief for the appeal is merely a rehash of already failed arguments," and claimed, "It is likely to be discarded in the next administration."