Chair

<p>Ripple CEO <strong>Brad Garlinghouse</strong> recently appeared on the renowned “60 Minutes” program, addressing the ongoing legal battle with the <strong>U.S. Securities and Exchange Commission (SEC)</strong>. The interview shed light on the broader implications for the cryptocurrency industry and Ripple’s role in shaping regulatory clarity.</p> 
<p><a href="https://www.qubetics.com/?utm_source=TBJ&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" decoding="async" class="size-full wp-image-67567 aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg" alt="Ripple CEO Joins 60 Minutes: Key Insights from the Controversial Interview = The Bit Journal" width="728" height="90" title="Ripple CEO Joins 60 Minutes: Key Insights from the Controversial Interview 39" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg 728w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3-300x37.jpg 300w" sizes="(max-width: 728px) 100vw, 728px"></a></p> 
<h2 id="garlinghouse-calls-for-clear-regulations">Garlinghouse Calls for Clear Regulations</h2> 
<p>During the interview, Garlinghouse emphasized that the crypto industry doesn’t seek deregulation but rather <strong>clear rules of the road</strong>. He criticized the SEC’s current approach, which he described as a “war on crypto,” prompting Ripple and other companies to establish FairShake, a political action committee aimed at advocating for industry fairness. Garlinghouse suggested that a different SEC chair might have prevented the need for such an initiative.</p> 
<p>He also referenced the <strong>FIT 21 Act</strong>, a proposed regulatory framework for digital assets that was passed by the U.S. House of Representatives in May. This legislation, according to Garlinghouse, could bring much-needed clarity to the sector.</p> 
<h2 id="stark-s-counterarguments">Stark’s Counterarguments</h2> 
<p>The episode also featured John Reed Stark, a former SEC official and vocal critic of cryptocurrencies. Stark described crypto as a “menace” and argued that it lacks balance sheets, financial statements, and legitimacy. He stated that all cryptocurrencies should be treated as securities, a stance repeatedly supported by court rulings.<img loading="lazy" decoding="async" class="size-full wp-image-74971 aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/illustration-featuring-Ripples-CEO-Brad-Garlinghouse-in-a-spotlight-set-against-a-backdrop-symbolizing-legal-and-r.webp" alt="Ripple CEO Joins 60 Minutes: Key Insights from the Controversial Interview = The Bit Journal" width="1792" height="1024" title="Ripple CEO Joins 60 Minutes: Key Insights from the Controversial Interview 40" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/illustration-featuring-Ripples-CEO-Brad-Garlinghouse-in-a-spotlight-set-against-a-backdrop-symbolizing-legal-and-r.webp 1792w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/illustration-featuring-Ripples-CEO-Brad-Garlinghouse-in-a-spotlight-set-against-a-backdrop-symbolizing-legal-and-r-300x171.webp 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/illustration-featuring-Ripples-CEO-Brad-Garlinghouse-in-a-spotlight-set-against-a-backdrop-symbolizing-legal-and-r-1024x585.webp 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/illustration-featuring-Ripples-CEO-Brad-Garlinghouse-in-a-spotlight-set-against-a-backdrop-symbolizing-legal-and-r-768x439.webp 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/illustration-featuring-Ripples-CEO-Brad-Garlinghouse-in-a-spotlight-set-against-a-backdrop-symbolizing-legal-and-r-1536x878.webp 1536w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/illustration-featuring-Ripples-CEO-Brad-Garlinghouse-in-a-spotlight-set-against-a-backdrop-symbolizing-legal-and-r-860x491.webp 860w" sizes="(max-width: 1792px) 100vw, 1792px"></p> 
<p>Garlinghouse responded by pointing out Ripple’s significant investment in legal defense, revealing that the company has spent over $150 million fighting the SEC’s case against XRP. He reiterated that XRP should not be classified as a security and argued that Ripple is only seeking a <strong>regulated framework</strong>, not an exemption from oversight.</p> 
<h2 id="xrp-price-takes-a-hit">XRP Price Takes a Hit</h2> 
<p>Ripple’s native token, <strong>XRP</strong>, is currently experiencing a downturn, trading at $2.44, a 1% decline from previous levels. Despite the dip, XRP continues to garner attention for its blockchain-based payment system. Speculation about potential regulatory changes under a future Trump administration has fueled optimism among some investors. Earlier price surges were linked to rumors of a meeting between Garlinghouse and Trump, as well as news of SEC Chair <strong>Gary Gensler’s</strong> possible resignation.</p> 
<h2 id="the-road-ahead-for-ripple-and-crypto">The Road Ahead for Ripple and Crypto</h2> 
<p>The ongoing legal battle between Ripple and the <a href="https://thebitjournal.com/gary-gensler-sets-crypto-crackdown-in-motion/" target="_blank" rel="noopener">SEC</a> could have far-reaching implications for the broader crypto industry. Ripple’s stance, advocating for clear and fair regulations, reflects a growing demand for transparency in the sector. As regulatory discussions continue, XRP’s price and market dynamics will likely remain closely tied to legal and political developments.</p> 
<p>At <strong>The Bit Journal</strong>, we will continue to monitor these pivotal events and provide timely updates to keep you informed.</p> 
<ul> 
 <li><a href="https://twitter.com/Thebitjournal_" target="_blank" rel="noopener nofollow">https://twitter.com/Thebitjournal_</a></li> 
 <li><a href="https://www.linkedin.com/company/the-bit-journal/" target="_blank" rel="noopener nofollow">https://www.linkedin.com/company/the-bit-journal/</a></li> 
 <li><a href="https://t.me/thebitjournal" target="_blank" rel="noopener nofollow">https://t.me/thebitjournal</a></li> 
</ul> 
<p>Follow us on Twitter and LinkedIn and join our Telegram channel to get instant updates on breaking news!</p>

Ripple CEO Joins 60 Minutes: Key Insights from the Controversial Interview

Table of Contents

The Bit Journal

Other articles published on Dec 9, 2024

Cardano Foundation X Account Hacked, Fake Token Scheme Exposed

Shytoshi Kusama Ignites SHIB Army With 'Accurate' Crypto Message: Details

Gary Gensler’s Departure and Its Impact on Crypto

Ripple CEO and Former SEC Official Clash Over X

Unlocking DeSci: Ink Finance Provides Decentralized Funding Solutions to Reshape Financing and Go...

BlackRock token presale is a fake – FOX’s Eleanor Terrett

Join our free newsletter for daily crypto updates!