Ripple CEO Brad Garlinghouse recently made notable statements about XRP at DC Fintech Week, highlighting regrets regarding Ripple's approach to U.S. regulators. With expectations for XRP's price growth amid ongoing tensions with the SEC, Garlinghouse admitted the company should have engaged with U.S. regulators sooner, saying, “We are now trying to make up for lost time.”
Ripple’s partial victory in its legal battle with the SEC had previously boosted XRP’s price, though the SEC’s subsequent appeal dampened gains, leaving XRP investors in uncertainty. The SEC maintains that Ripple's XRP sales to institutional investors involved unregistered securities. While individual investor purchases were ruled not to be securities, institutional sales remain unresolved.
In his remarks, Garlinghouse expressed regret, reflecting, “I think we made a mistake by not taking action sooner,” and stressed that the company is now focused on remedying past oversights. He also pointed out that the U.S. is falling behind other countries in crypto regulation and criticized SEC Chairman Gary Gensler’s “reign of terror” over the sector. Additionally, Garlinghouse cited the FTX scandal involving Sam Bankman-Fried as a major setback for the crypto industry, emphasizing its negative impact on Ripple and the broader crypto landscape.
