- December 9, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Ripple News: Garlinghouse Faces Backlash for Gambling Reference, Slams 60 Minutes Over XRP Victory Editing appeared first on Coinpedia Fintech News
Ripple CEO Brad Garlinghouse recently appeared on CBS’s “60 Minutes.” However, the segment became more interesting when former SEC official John Reed Stark, a known crypto skeptic and supporter of SEC Chairman Gary Gensler, appeared to present opposing views on crypto’s utility, regulation, and XRP’s classification.
The segment disappointed many in the crypto community, with pro-XRP lawyer Fred Rispoli expressing his frustration on X (formerly Twitter). Rispoli suggested that the segment was poorly researched or unfairly edited. He criticized the choice of Stark, noting that he is a strong supporter of the SEC and made multiple false statements during the interview.
Rispoli also expressed dissatisfaction with Garlinghouse using the gambling industry as a defense for crypto, although he acknowledged that the 90-minute interview was condensed.
He said, “John Stark made at least 5 untrue statements. Didn’t like Brad using the gambling industry to defend crypto. But I also understand he provided 90 minutes and they used 2 so who knows how the chopped it up.”
After the “60 Minutes” segment aired, Garlinghouse himself criticized the program for how it portrayed cryptocurrency and Ripple. Taking to X, Garlinghouse pointed out key omissions and what he believed was a misrepresentation of crypto’s utility. He specifically criticized the show for featuring comments from John Reed Stark, a former SEC official
He wrote, “I spoke with Margaret Brennan / 60Minutes for 90+ min straight. When discussing the SEC’s misguided lawsuit against Ripple, 60Minutes shockingly left out that a Federal Judge ruled that XRP is not a security…Gensler’s shill (John Reed Stark) knows better despite his comments that 60Minutes chose to air.”
In the interview, Garlinghouse repeated his call for clearer regulations in the U.S. He criticized the SEC’s approach, saying it harms innovation and misrepresents crypto assets like XRP. He argued that current laws don’t properly address blockchain technology, leading to confusion and legal issues.
