{"id":1730,"date":"2024-10-28T02:02:01","date_gmt":"2024-10-28T02:02:01","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1730"},"modified":"2024-10-28T02:02:01","modified_gmt":"2024-10-28T02:02:01","slug":"gensler-called-worst-public-servant-in-scathing-remarks-by-ripple-co-founder","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1730","title":{"rendered":"Gensler Called \u2018Worst Public Servant\u2019 In Scathing Remarks By Ripple Co-Founder"},"content":{"rendered":"
\n

The word war between Ripple Labs\u2019 key people and the Securities and Exchange Commission (SEC) continues.<\/p>\n

In the latest twist in the Ripple v SEC saga, Ripple\u2019s co-founder, Chris Larsen, offered a stinging comment of SEC Chair Gary Gensler, saying that he\u2019s the \u201cworst public servant of all time.\u201d<\/p>\n

Larsen commented on Gensler in a recent CNBC interview after highlighting the failed crypto policy in the country and his decision to support Kamala Harris\u2019 campaign.<\/p>\n

While Larsen shared his distrust of Gensler and even the Federal Trade Commission\u2019s Lina Khan, he didn\u2019t offer any specific answer on whether he agreed to remove Gensler from his position.<\/p>\n

\u00a0<\/p>\n

Ripple And SEC: A History Of Suing And Counter-Suing<\/strong><\/h2>\n

Ripple\u2019s beef with the SEC dates back to late 2020 when Larsen and Ripple\u2019s CEO Brad Garlinghouse were named defendants. According to the SEC\u2019s lawsuit, the duo was responsible for aiding and allowing the alleged Ripple\u2019s securities law violations.<\/p>\n

\n

.@Ripple<\/a> Chairman Chris Larsen calls Gary Gensler<\/p>\n

The worst public servant in U.S. history \"\ud83e\udd23\" pic.twitter.com\/1jQyG5FbJN<\/a><\/p>\n

\u2014 \ud835\uddd5\ud835\uddee\ud835\uddfb\ud835\uddf8XRP (@BankXRP) October 26, 2024<\/a><\/p>\n<\/blockquote>\n

In SEC v. Ripple, the agency alleged that Ripple sold an unregistered security offering. Ripple responded that XRP shouldn\u2019t be treated as a security, using the SEC director\u2019s previous comments to argue its case.<\/p>\n

By October 2023, the company filed for the dismissal of the charges. Garlinghouse commented that the agency simply wanted to ruin him personally.<\/p>\n

SEC Goes After Ripple (Again), Then A Ripple Counter-Appeal<\/strong><\/h2>\n

In a July 2023 ruling, a judge ruled that while Ripple\u2019s sale of its token to institutional buyers violated existing securities laws, its programmatic sales to retail exchanges are above board.<\/p>\n

Nearly two months after the judge\u2019s verdict, the agency immediately filed an appeal. In its Form C filing, the agency shared that it will continue to pursue the Ripple execs.<\/p>\n

<\/p>\n

After the SEC appeal, Ripple also filed a cross-appeal. The filing of Form C came a few days after the company executives stated that they would leave nothing on the table as part of its defense.<\/p>\n

Gensler\u2019s Tough Stance On Crypto<\/strong><\/p>\n

Many in the crypto industry initially saw a bright future ahead with Gensler at the helm. Gensler was tech-savvy, well-known in the academic circle, and even handled a blockchain course at the Massachusetts Institute of Technology (MIT).<\/p>\n

However, Gensler pursued a tough stance on crypto, starting with the agency\u2019s campaign against Binance and Coinbase.<\/p>\n

In recent years, the SEC\u2019s campaign against Ripple has captured the industry\u2019s attention. Gensler\u2019s aggressive policies on crypto and Ripple have generated a lot of heated words.<\/p>\n

Ripple\u2019s Garlinghouse has already called out Gensler for preventing crypto\u2019s progress and hit the agency for failing to stop the FTX collapse.<\/p>\n

Featured image from CNBC, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The word war between Ripple Labs\u2019 key people and the Securities and Exchange Commission (SEC) continues. In the latest twist in the Ripple v SEC saga, Ripple\u2019s co-founder, Chris Larsen, offered a stinging comment of SEC Chair Gary Gensler, saying that he\u2019s the \u201cworst public servant of all time.\u201d Larsen commented on Gensler in a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1730","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1730"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1730\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}