Brad Garlinghouse, Ripple’s chief executive, has published a tweet to share his take on the SEC’s recent refusal related to the SEC vs. Ripple case.
Commenting on Stuart Alderoty’s (Ripple’s chief legal officer) recent X post in which the CLO criticised the Securities and Exchange Commission for its recent move regarding their case.
This happened as the last few weeks of Gary Gensler’s presence in the SEC as the chairman have started.
Garlinghouse slams current SEC boss
Stuart Alderoty tweeted that despite the fact that “Gensler’s war on crypto ends” at the SEC in ten days, the regulator has refused to agree to postpone the filing of their opening brief regarding their appeal of Ripple’s recent victory in court.
The current dead-line for that in January 15, which is today. Commenting on SEC’s refusal, Ripple CLO stated: “What a waste of time and taxpayer dollars!”
He stated that Ripple is still confident in its current position on appeal, and the team looks forward to working with the new SEC leader to solve this matter.
Gensler, very much on brand – completely dismissive of the 2024 election and the American public – fully commits to his failed ‘regulation-by-enforcement agenda to the bitter, bitter end. #Sad https://t.co/1FEzB8d13o
— Brad Garlinghouse (@bgarlinghouse) January 14, 2025
Ripple’s chief executive took aim at Gary Gensler specifically for this, saying that the current SEC leader “is very much on brand”, who is “completely dismissive of the 2024 election and the American public” and has shown full commitment to “his failed ‘regulation-by-enforcement agenda to the bitter, bitter end.”
SEC sues Elon Musk, Dogecoin founder reacts
The SEC regulatory agency has sued tech billionaire Elon Musk, accusing him of taking too long to disclose that he had acquired a large stake in Twitter in 2022 before he acquired the social media company to rebrand it as X later.
The SEC claimed that Musk waited 21 days instead of 10 days to disclose his purchase of Twitter shares at “artificially low prices.” The SEC reminded that once the disclosure of the stake was made, the share price soared by more than 27%.
Musk’s pen-friend Dogecoin co-founder Billy Markus posted a tweet about this, criticizing the SEC. However, he seemed to get things slightly confused. According to his tweet, the SEC sued Musk for purchasing Twitter at “artificially low price”, saying nothing about the share purchase.
the sec is suing elon musk for buying twitter at “artificially low prices” even though he bought it for $44 billion and industry analysts said it was worth more like $30 billion?
nothing makes sense man
— Shibetoshi Nakamoto (@BillyM2k) January 14, 2025
Elon Musk responded to his tweet, criticizing the regulator and calling the SEC a “totally broken organization.”
Totally broken organization.
They spend their time on shit like this when there are so many actual crimes that go unpunished.
— Elon Musk (@elonmusk) January 15, 2025
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