JAKARTA Not a few of the crypto communities are curious about Garlinghouse's portfolio. Ripple boss Brad Garlinghouse recently revealed his crypto portfolio in discussions with Messari CEO Ryan Selkis.
The Ripple CEO revealed his crypto portfolio including Ethereum (ETH) and that he disagreed with the US Securities and Exchange Commission (SEC)'s recent statement regarding the smart contract platform.
In a new chat with Messari CEO Ryan Selkis, Garlinghouse discussed the SEC's recent stance that Ethereum could be considered an unregistered securities, which regulators have accused XRP of in its lawsuit against Ripple filed at the end of 2020.
The SEC's latest statement on Ethereum contrasts with what Bill Hinman, former Corporate Finance Director at the SEC, said in a speech in 2017, according to Garlinghouse.
I will straighten out the notes. I personally have Bitcoin. I personally own Ethereum. I personally own XRP. I have all those digital assets and some other digital assets," Garlinghouse said.
He further stated his views regarding Bill Hinman, a former official of the US Securities and Exchange Commission (SEC).
In comparison, my stance is: Bill Hinman as Corporate Finance Director, appearing in front of the world and giving a speech saying, 'We think ETH is a security, and is turning to non-sectoral because of its decentralized framework', he said.
I saw that and I remember sending emails internally on Ripple like, 'Hey, here's the good news.' XRP is a decentralized digital open-source asset. Ripple, the company, only controls a very small percentage of network validators... The law doesn't really say what Bill Hinman said, but if that's how the SEC will measure this, that's great," said CEO Ripple.
Garlinghouse said the SEC may unfairly opt for a winner and a criminal in the crypto market, both by filing its lawsuit against Ripple and also with the recent rhetoric against Ethereum.
Why is the SEC, why is it a government entity, when XRP began their investigation is the second most valuable asset, why do they choose winners and losers? That's not the role of the government - not a capitalistic and democratic government. There is another government around the world that might be in that business, concluded Garlinghouse.
Furthermore, he questioned the ETH transition in SEC view, how could they say, because it changed from Proof-of-Work to Proof-of-Stake, now suddenly it's back to securities?
The SEC is not willing to reveal the contents of Bill Hinman's speech stating that Ethereum is not a security, while XRP is a security. In fact, the court had urged the regulator to submit the contents of the speech, but the SEC bought time.
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