The co-founder of Gemini is still celebrating XRP listing on the crypto exchange, as he criticizes the Securities and Exchange Commission (SEC).
Tyler Winklevoss, the co-founder of Gemini, is still in a celebratory mood after the exchange relisted XRP.
Tyler took to X to explain why the crypto exchange decided to relist XRP on its platform.
“$XRP is now available on @Gemini. It’s important to note how we got here,” he remarked.
$XRP is now available on @Gemini. It's important to note how we got here. Instead of creating clear rules for crypto, the @SECGov has resorted to suing everyone. It lost its case against Ripple and a judge provided clarity when @GaryGensler wouldn't. America deserves better. https://t.co/7adpGwAyLb
— Tyler Winklevoss (@tyler) August 11, 2023
Gemini Founder Criticizes SEC
According to Tyler, the SEC chose to sue “everyone” in the crypto industry instead of providing clear rules.
It is worth noting that Ripple is one of the crypto businesses the SEC sued for allegedly violating securities laws. The regulatory agency charged Ripple and two of its execs with violating securities laws by selling XRP as a security.
Interestingly, the SEC lost a major part of the case, including programmatic sales of XRP.
Commenting on the development, Tyler said a federal judge provided clarity when SEC chairman Gary Gensler wouldn’t. He added that American investors deserve better.
Gemini Relists XRP, Mocks SEC
Tyler made the comment days after Gemini relisted the Ripple-affiliated coin on its platform. Recall that Gemini delisted XRP a few weeks after the SEC sued Ripple for violating federal securities laws.
With Judge Analisa Torres declaring XRP itself and programmatic sales of the coin on exchanges as non-securities, Gemini joined other US-based crypto exchanges to relist XRP.
While announcing its decision to relist XRP, Gemini attached a mockery video of the securities regulators. In the accompanying video, the crypto exchange ridiculed Gensler and the SEC, depicting how XRP defeated the regulator.
XRP Hits $50 On Gemini
Shortly after Gemini relisted XRP for deposits and trading, the price of the coin spiked to a whopping $50 on the exchange. Several crypto community members shared screenshots of the XRP price spike on Gemini.
However, many believe that Gemini had a technical glitch, leading to XRP surging to $50 on the platform.
Major exchange @Gemini had a glitch.
— JackTheRippler ©️ (@RippleXrpie) August 10, 2023
Meanwhile, XRP is currently changing hands at $0.63, down 0.5% in the past 24 hours.