Ripple CEO criticizes SEC Chair for anti-innovation stance; XRP bulls stay positive.

The CEO of Ripple, Brad Garlinghouse, has criticized the Securities and Exchange Commission (SEC) for its recent actions against the cryptocurrency industry. In a statement on Twitter, Garlinghouse accuses the SEC Chair Gary Gensler of “hypocrisy” and “desperation,” claiming that the agency’s lawsuits against Ripple and other companies are a distraction from their internal struggles. He suggests that the SEC’s crackdown on the crypto industry is misguided and ultimately harmful to innovation. Yassin Mobarak, founder of venture capital firm Dizer Capital, suggests that the SEC’s aggressive approach may be an attempt to prevent a precedent-setting ruling against them in the Ripple case. The tension between the SEC and the cryptocurrency industry continues to grow, with many companies feeling unfairly targeted by the agency’s regulatory actions. Meanwhile, XRP has managed to breach the $0.500 level once again, trading at $0.5285, up 3% in the last 24 hours, despite the challenges posed by regulatory uncertainty.