Brad Garlinghouse, CEO of Ripple, has publicly expressed dissatisfaction with how CBS Information’ 60 Minutes portrayed his interview.
The Dec. 8 episode, which condensed a 90-minute dialogue right into a 60-minute phase, omitted key particulars that Garlinghouse believes have been essential to precisely depicting Ripple’s authorized battles and the broader crypto panorama.
In a Dec. 9 put up on X, Garlinghouse identified that this system failed to say a pivotal July 2023 ruling by which a federal choose declared XRP not a safety when traded on public exchanges. This choice, which immediately counters claims made throughout the phase by former SEC official John Reed Stark, represents a major authorized milestone for Ripple.
Garlinghouse criticized the omission, arguing that it led to an incomplete and deceptive narrative about XRP’s regulatory standing. The Ripple boss said:
“60Minutes shockingly disregarded {that a} Federal Decide dominated that XRP just isn’t a safety…Gensler’s shill (John Reed Stark) is aware of higher regardless of his feedback that 60Minutes selected to air.”
He additionally challenged Stark’s dismissal of crypto as missing utility, likening it to early skepticism towards the web. He emphasised that Ripple already permits billions of {dollars} in cross-border transactions for institutional purchasers utilizing XRP whereas complying with laws like know-your-customer (KYC) protocols.
Garlinghouse argued that such real-world use circumstances spotlight blockchain’s transformative potential, some extent largely ignored within the 60 Minutes phase.
Moreover, Garlinghouse shared insights from Neil Hartner, a software program engineer at Ripple, who clarified a standard false impression introduced within the interview that XRP just isn’t Ripple’s proprietary token.
Hartner emphasised that XRP operates on a decentralized, public ledger, with Ripple being only one outstanding participant in its ecosystem.
The interview
Whereas important of the protection, Garlinghouse acknowledged the episode’s highlight on crypto’s rising affect in US politics. Ripple and different trade leaders have considerably formed political discussions and election outcomes.
Garlinghouse described the latest US election as a turning level for the crypto trade. He highlighted efforts by Fairshake, a crypto-focused political motion committee (PAC), which supported most candidates who went on to win congressional seats. Notably, 85% of Fairshake-backed candidates have been victorious, together with 29 Republicans and 33 Democrats.
Ripple contributed $45 million to Fairshake’s efforts, becoming a member of different outstanding donors like Coinbase and Andreessen Horowitz. Collectively, these contributions funded voter schooling campaigns and pro-crypto candidate commercials. The entire donations exceeded $204 million, serving to safe key legislative allies for the crypto trade.
Garlinghouse additionally famous the impression of President-elect Donald Trump’s shocking shift towards a pro-crypto stance throughout the marketing campaign. This variation, he recommended, additional aligned the crypto group together with his platform.
“I feel it’s clear that Donald Trump embraced crypto and crypto embraced Donald Trump,” Garlinghouse said.
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