US SEC Chairman Gensler Will Make President Joe Biden Lose Election – Ripple CEO

Ripple CEO Brad Garlinghouse has slammed Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), for his recent slander about most crypto executives going to prison.

Garlinghouse stated in a tweet that Gensler and his approach to crypto regulation would cause US President Joe Biden to lose the next election.

Gensler at Crypto Execs

During an interview with Bloomberg on Tuesday, Gensler discussed the US crypto industry, the upcoming launch of Ethereum exchange-traded funds (ETFs), crypto regulation and the fate of industry executives.

While the SEC chair stood by the timing of the launch of Ethereum ETFs, saying that discussions were moving forward smoothly, she refuted claims about inconsistencies between crypto and securities laws, insisting that there are no there was such a thing

Gensler said the crypto space is riddled with breaches and has caused significant harm to US investors. According to Gensler, the lack of compliance is evident in the number of top cryptocurrency executives who are in prison or awaiting sentencing.

“This is a field where the leading lights of a couple of years ago are in prison, about to go to prison or awaiting extradition. Think about it. This is this field. This is the field where the public has really been harmed, and there is a significant breach in the field,” Gensler said.

Costing Biden the election

Criticizing Gensler, Garlinghouse called his comments “absolute nonsense.” The head of Ripple said that the slander of crypto executives came from someone who missed the fraudulent scheme of the bankrupt exchange FTX and even “reached out” to the founder of the platform Sam Bankman-Fried , who has been sentenced to 25 years in prison for his role in the case. .

Additionally, Garlinghouse noted that Gensler’s incompetence was evident in his absence from the Justice Department’s announcement of a multibillion-dollar settlement with Binance, the world’s largest crypto exchange.

“If he really was ‘working for the American people’ as he says, he would have been fired a long time ago. Gensler will cause Biden to lose the election,” the Ripple CEO added.

Garlinghouse’s comments echo those of billionaire entrepreneur and crypto investor Mark Cuban, who has claimed in recent months that Gensler could cost Biden the election because of young US citizens owning crypto.

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