Ripple CEO Criticizes A 60 Minutes Event That Is Not Accurate In Discussing XRP

Brad Garlinghouse in the 60 Minutes event. (Photo; Doc. 60 Minutes)

JAKARTA - Ripple CEO Brad Garlinghouse recently responded to a 60 Minutes television show related to the company's legal dispute with the US Securities and Exchange Commission (SEC). Garlinghouse feels the program provides an unfair picture of Ripple and the overall crypto industry.

Garlinghouse assessed that the 60 Minutes event ignored an important decision by Judge Torres stating that XRP was not a security. In addition, 60 Minutes also apparently invited former SEC official John Reed Stark who said that many cryptocurrencies had been decided as securities by the court, and this was no longer up for debate.

However, Garlinghouse feels Stark's comments are no longer relevant because the court's decision is clear by stating that XRP is not a security. Ripple boss also questioned why Stark's statement was featured at the 60 Minutes event.

Crypto made its debut on @60Minutes tonight – there’s no doubt that these technologies will continue to become more and more mainstream - with influence and reach that will only continue to grow.

A few things I do want to comment on after watching:

I spoke with Margaret…

— Brad Garlinghouse (@bgarlinghouse) December 9, 2024

Crypto made its debut on @60Minutes tonight there is no doubt that these technologys will continue to become more and more mainstream - with influence and reach that will only continue to grow.

A few things I do want to comment on after watching:

I speech with Margaret...

Through his X account, Garlinghouse calls Stark a "Gensler 's hill" (supporter of Gary Gensler, SEC Chairman), and confirms that 60 Minutes have chosen to broadcast biased views.

Garlinghouse also commented on views that say crypto has no real benefits. He compared criticism of crypto with negative judgments against the internet in its early days, which is also considered only a tool for crime.

"Look at how the internet is developing now," he said, stressing that blockchain technology, which is the basis for crypto, has begun to be accepted by large institutions such as JPMorgan.

In addition, Garlinghouse is also discussing political issues in the crypto industry, particularly the large contribution given by crypto companies to super PACs. According to him, this is not a matter of buying elections, but an attempt to ensure that policymakers understand the importance of this industry and set clear and fair rules for crypto development in the US.