CandleFocus “Unconscionable”: Ripple CEO Slams Top Candidate to Replace Gensler
2024-11-19
Author: Content Editor
Ripple CEO Brad Garlinghouse has criticized the potential appointment of Robert Stebbins as the next Chairman of the Securities and Exchange Commission (SEC). Garlinghouse expressed concerns about Stebbins' involvement in the controversy surrounding the recognition of Ethereum as a non-security in a 2018 speech by the Director of Corporation Finance, William Hinman. Stebbins has been accused of approving numerous cryptocurrency cases under the former SEC Chairman Jay Clayton, leading some to believe that he would continue Clayton's approach to regulation. Garlinghouse stated that choosing Stebbins would be a step backward in terms of crypto regulation. Other industry figures, such as Stuart Alderoty from Ripple and Dan Gallagher from Robinhood, have also commented on Stebbins' candidacy. Prediction market Kalshi suggests that Gallagher is the frontrunner for the position of SEC Chairman.
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