Ripple CEO Brad Garlinghouse criticizes popular American television program 60 Minutes for omitting a crucial detail about the XRP ruling during the December 8 segment.
On December 8, 60 Minutes released its highly anticipated interview featuring Garlinghouse and former U.S. SEC official John Reed Stark.
The segment covered various crypto-related issues, including how Ripple and two other crypto companies contributed over $140 million in support of pro-crypto political candidates in the last U.S. election.
Ripple CEO Criticizes 60 Minutes for Omitting XRP Ruling
However, the program omitted crucial details relating to the SEC’s lawsuit against Ripple. Notably, Garlinghouse took to X to highlight 60 Minutes’ omission of a federal judge ruling that XRP is not a security in itself.
Apparently, the Ripple CEO might have mentioned this point during the interview when discussing the SEC lawsuit against the company. However, CBS did not include it in the final cut that aired on December 8.
Meanwhile, the program aired an excerpt of Garlinghouse’s comment, in which he mentioned that he has never considered XRP a security.
Afterward, it added a counterargument from Stark, who suggested that U.S. judges have repeatedly labeled cryptos as securities. This indicates that the judges’ declaration applies to every crypto asset, including XRP.
Garlinghouse Slams Former SEC Official
Reacting to Stark’s claim, the Ripple CEO noted in his tweet that the former SEC official ‘knows better despite his comments.’
In a follow-up comment, Garlinghouse accused Stark of misrepresenting key facts about cryptocurrencies and sounding like outgoing SEC Chair Gary Gensler.
He highlighted some statements Stark made during the 60 Minutes segment that align with Gensler’s rhetoric. They include comments suggesting crypto has no utility other than its use for criminal activities. Garlinghouse noted that even though these comments are false, 60 Minutes did not fact-check before airing them.
Despite the criticism, Garlinghouse commended Stark for urging the SEC to withdraw its appeal against Ripple.
XRP Soars Amid Rumors of Potential Resolution of SEC v. Ripple Case
The appeal is currently in the U.S. Court of Appeals for the Second Circuit, with the SEC scheduled to file its opening brief in mid-January 2025.
However, following Donald Trump’s re-election and the subsequent nomination of a pro-crypto advocate as the next SEC Chair, there are speculations that the commission might drop the Ripple appeal.
This speculation propelled XRP to a major rally, with the asset reclaiming the third position in the global crypto ranking over the past week.
However, XRP slumped to fourth place yesterday, following a major downturn across the broader crypto market. It is trading at $2.14 per token and has a market cap of $124.04 billion.
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