“The hypocrisy is shocking! » The boss of Ripple doesn’t lose his temper and even an old interview with the former president of the SEC has the gift of annoying him in the middle of his weekend! We feel that Brad Garlinghouse has a lot of bitterness against the regulator of his country and when he fell back on an intervention from Jay Clayton which dates from June, he couldn’t help but react on social networks and share his thoughts.
After years of expensive and tiring proceduresnear where Ripple we always hope for a favorable outcome. However, we feel that men are losing patience with a Kafkaesque American administration which prolongs the suspense. A look back at this weekend micro event which says a lot about the resentment of the crypto industry made in USA.
When Brad Garlinghouse gets annoyed over an old interview with Jay Clayton…
For what Brad Garlinghouse decided this Saturday afternoon to react to a message of Cameron Winklevoss posted last June, we don’t know. Had he missed it? Had he forgotten it? Was he looking for a pretext to launch a new dig at the SEC? In any case, he took the opportunity to reiterate his criticisms against his country’s regulator and in particular on the policy of legal proceedings described by Jay Clayton.
In the video extract from June, we hear, in fact, the president of the SEC from May 2017 to December 2020 partially confessing on how his institution decides, or not, to take legal action against this or that company. On the occasion of his appearance in the financial show of Squawk Box on CNBC, Jay Clayton tried to explain the logic which prevails at the top of the institution and which he summarizes in these terms:
“ If we do not lose a case and if we are not dismissed by the courts, it is because we are not doing enough. »
Jay Clayton on SEC policy – Source: Squawk Box, CNBC
This means, he continues, that the DRY knows full well that she will lose in court but that multiplying the number of procedures is a way for the institution to show its efforts and activity. Jay Clayton will conclude by expressing a form of personal indignation in the face of this truth, because for him, we should only go to court when we are sure that we are in the right. But already, in June, these comments had triggered strong criticism because the gentleman who speaks is not exempt from all reproach.
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…and rekindles the controversy over the action of the Security and Exchange Commission
When sharing the video, Cameron Winklevoss had already described this policy as “deeply anti-American” and it was according to the boss of Gemini a “clear abuse of power”. But as this four-month-old interview comes out of the archives, Brad Garlinghouse will take the opportunity to say what is on his heart:
“ When I saw this video, my blood boiled!
Hypocrisy [de la SEC et de Jay Clayton ] is downright shocking. [Les journalistes] should have taken him back when he said those assholes.
As a reminder, Jay Clayton filed a complaint against Ripple, me and Chris Larsen. And left the building the next day. »
Brad Garlinghouse on the Jay Clayton interview – Source: X
Implied, Jay Clayton did exactly what he himself denounces! Indeed, a few days ago, the SEC announced that it was withdrawing its complaint against the company Ripple, which confirms Jay Clayton’s comments about the unnecessary prosecutions carried out by Gary Gensler’s administration. Except that Mr. Clayton is not as foreign to all this as he wants to let on. This thorny issue is definitely poisoning Washington and attracting the attention of the whole world, because everyone has understood that what is at stake here is much more than the nature of XRP before the law.
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