On October 22nd, Ripple CEO Brad Garlinghouse has been expressing his views on the crypto market and regulatory status, and is dissatisfied with the way financial regulators treat Ethereum “differently.”
At the DC Fintech Week virtual conference on October 21, Garlinghouse claimed that the regulator gave Ethereum the green light to enable it to surpass XRP. Garlinghouse obviously feels that his company has been hit, and Ethereum’s subsequent success is at least partly due to the more tolerant treatment of the US SEC.
He said that this is affecting the market and added: “In the past few years, XRP has been the second-largest digital asset by market capitalization. However, with the US SEC issued a pass to ETH, ETH has clearly seen explosive growth. This transparency helps.”
Garlinghouse also said that the US SEC has recently taken a tough stance against Ripple and Coinbase. Commenting on Ripple’s struggle with financial regulators, he said that the SEC claims to be protecting consumers, but: “nearly 50,000 Americans holding XRP are trying to sue the SEC for ‘protecting them’.”