According to Ripple’s CEO Brad Garlinghouse, the latest crypto hit piece from New York Times relied on a false premise that Donald Trump’s team is directly involved with Ripple Labs. Tying the ease in regulatory constraints to Trump’s inauguration, the mass media outlet left out quite a few important factors, Mr. Garlinghouse notes.
XRP vs. SEC: Uncovering Both Sides Of The Story
The piece stated that the United States President was casually paid or somehow convinced into sorting out deals with various crypto firms that the United States Securities and Exchange Commission (SEC) battled under Gary Gensler’s regime. Ripple Labs, the issuer of XRP, falls into the category of Trump-favored companies, boldly claims the article.
To this, Ripple’s CEO complained the article is full of half-truths, not even mentioning the multiple federal judges who had rebuked the SEC under Gary Gensler. One of those are US Magistrate Judge Sarah Netburn, who went as far as to say that SEC’s way of operations isn’t “faithful allegiance to the law”.
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“Where was the New York Times headline during the prior administration calling out their illegal attack on an industry?”, – ironically questions Brad Garlinghouse. In spite of this negative media, Ripple (XRP) is close to securing a fully regulated banking license in the United States (USA).
Stablecoin Acts: True Catalysts Behind XRP’s Shine?
In spite of the New York Times claims, the actual reason for this are the Genius & Clarity acts, two recently-applied stablecoin bills that open the doors for high-tech companies to conduct business in Dollar-backed stablecoins.
Other popular industry figures backed Ripple chief’s opinion. Alex Thorn, Galaxy Digital’s Head Of Research, said the left-leaning New York Times treated Joe Biden’s crypto crackdown as normal on purpose, when it was nothing but.
He even called the piece “crypto dementia”, adding that the idea of these events not being an unnecessary crackdown, but rather a normal procedure is appalling.
“This is dishonest framing that ignores 4 years of direct attacks by the actual partisans”, cried out Mr. Thorn, referring to the bi-partisan activities to raise an open dialogue between top blockchain companies like Ripple (XRP) & the United States Securities and Exchange Commission (SEC) for years.
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People Also Ask:
A recent article seen as another biased hit piece defending the prior administration’s crypto policies.
Judges called prior SEC actions “arbitrary and capricious,” criticized lack of fidelity to law, and fined for lying to court.
For repeatedly omitting facts about SEC overreach under Biden while pushing a “failed narrative.”
Highlighting a NYT reporter’s admission of no evidence tying Trump to influencing SEC crypto cases.
As an “illegal War on Crypto” that the New York Times absolutely failed to critically cover at the time.
