Brad Garlinghouse, CEO of Ripple, came to Ethereum’s defense amidst increasing scrutiny by the U.S. Securities and Exchange Commission (SEC). During the XRP Las Vegas 2024 event, Garlinghouse criticized the SEC’s approach towards both Ethereum and Ripple (XRP). He argued that the SEC’s regulatory stance was counterproductive. In contrast to Michael Saylor, who labeled Ethereum an unregistered security, Garlinghouse highlighted Ripple’s recent legal win against the SEC, which established XRP is not a security.

Meanwhile, Consensys Inc., a key player in Ethereum’s ecosystem, is suing the SEC over its investigation into ETH-related trades. The ongoing regulatory uncertainty has delayed the approval of an Ethereum ETF, a development eagerly awaited by investors. Although William Hinman, former head of the SEC’s Corporation Finance division, previously stated Ethereum was not considered a security, the current investigation leaves Ethereum’s regulatory future uncertain, which is impacting its acceptance in the broader financial sector.

Twitter