6 months ago
Brad Garlinghouse, CEO of Ripple, has publically expressed dissatisfaction with however CBS News’ 60 Minutes portrayed his interview.
The Dec. 8 episode, which condensed a 90-minute treatment into a 60-minute segment, omitted cardinal details that Garlinghouse believes were important to accurately depicting Ripple’s ineligible battles and the broader crypto landscape.
In a Dec. 9 post connected X, Garlinghouse pointed retired that the programme failed to notation a pivotal July 2023 ruling in which a national justice declared XRP not a information erstwhile traded connected nationalist exchanges. This decision, which straight counters claims made during the conception by erstwhile SEC authoritative John Reed Stark, represents a important ineligible milestone for Ripple.
Garlinghouse criticized the omission, arguing that it led to an incomplete and misleading communicative astir XRP’s regulatory status. The Ripple brag stated:
“60Minutes shockingly near retired that a Federal Judge ruled that XRP is not a security…Gensler’s shill (John Reed Stark) knows amended contempt his comments that 60Minutes chose to air.”
He besides challenged Stark’s dismissal of crypto arsenic lacking utility, likening it to aboriginal skepticism toward the internet. He emphasized that Ripple already enables billions of dollars successful cross-border transactions for organization clients utilizing XRP portion complying with regulations similar know-your-customer (KYC) protocols.
Garlinghouse argued that specified real-world usage cases item blockchain’s transformative potential, a constituent mostly overlooked successful the 60 Minutes segment.
Additionally, Garlinghouse shared insights from Neil Hartner, a bundle technologist astatine Ripple, who clarified a communal misconception presented successful the interrogation that XRP is not Ripple’s proprietary token.
Hartner emphasized that XRP operates connected a decentralized, nationalist ledger, with Ripple being conscionable 1 salient subordinate successful its ecosystem.
The interview
While captious of the coverage, Garlinghouse acknowledged the episode’s spotlight connected crypto’s increasing power successful US politics. Ripple and different manufacture leaders person importantly shaped governmental discussions and predetermination outcomes.
Garlinghouse described the caller US predetermination arsenic a turning constituent for the crypto industry. He highlighted efforts by Fairshake, a crypto-focused governmental enactment committee (PAC), which supported astir candidates who went connected to triumph legislature seats. Notably, 85% of Fairshake-backed candidates were victorious, including 29 Republicans and 33 Democrats.
Ripple contributed $45 cardinal to Fairshake’s efforts, joining different salient donors similar Coinbase and Andreessen Horowitz. Together, these contributions funded elector acquisition campaigns and pro-crypto campaigner advertisements. The full donations exceeded $204 million, helping unafraid cardinal legislative allies for the crypto industry.
Garlinghouse besides noted the interaction of President-elect Donald Trump’s astonishing displacement toward a pro-crypto stance during the campaign. This change, helium suggested, further aligned the crypto assemblage with his platform.
“I deliberation it’s wide that Donald Trump embraced crypto and crypto embraced Donald Trump,” Garlinghouse stated.
The station Ripple CEO Brad Garlinghouse questions ’60 Minutes’ omission of cardinal XRP ineligible victory appeared archetypal connected CryptoSlate.
English (US) 