Ripple CEO Predicts SEC's Loss to Ethereum

Izumi Tanaka
1 min read

In a recent social media post, Ripple CEO Brad Garlinghouse has forecasted that the U.S. Securities and Exchange Commission (SEC) is set to lose in its battle against Ethereum (ETH). Garlinghouse claims that the SEC is already performing poorly in court and lagging behind international counterparts in terms of regulatory standards. Reports indicated that the SEC has initiated an aggressive campaign to classify the second-largest cryptocurrency as a security, while also subjecting the Ethereum Foundation to an ongoing investigation. Paul Grewal, chief legal officer at Coinbase, refuted the 'misinformation' surrounding Ethereum, emphasizing its significance to the broader crypto economy. Garlinghouse highlighted the SEC's conflict with other regulators like the CFTC besides the ongoing battle. Furthermore, two U.S. senators recently urged the SEC not to approve more ETFs for cryptocurrencies, prompting assumptions that the SEC aims to cater to cryptocurrency skeptics in Washington. Stuart Alderoty, chief legal officer at Ripple, called for Congress to halt the funding of such actions.

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