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"Gensler will cause Biden to lose the election,” says Ripple Labs CEO

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Ripple Labs CEO criticizes SEC's harsh stance on crypto, predicts electoral fallout.

"Gensler will cause Biden to lose the election,” says Ripple Labs CEO

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Brad Garlinghouse, CEO at Ripple Labs, took to X yesterday to say that Gary Gensler’s stance towards crypto “will cause Biden to lose the election.” Garlinghouse joins Mark Cuban, who recently made the same statement.

The post by Ripple Labs’ CEO answers Gensler’s remarks during the Bloomberg Invest Summit about the “leading lights” in crypto from two years ago being in jail, about to go to jail, or awaiting extradition. This is a reiteration of what was said by the SEC Chairman in early June during CNBC’s Squawk on the Street.

“Absolute nonsense coming from Gary Gensler today. And this slander about ‘all crypto execs going to jail’ from the man who completely missed FTX (and actually cozied up to SBF), and wasn’t even invited to the DOJ announcement about Binance,” said Garlinghouse.

Moreover, Garlinghouse added that if Gensler was really working for the American people, he should have been fired a long time ago. “Gensler will cause Biden to lose the election.”

During the Bloomberg Invest Summit, Gensler was questioned about Cuban’s words on him costing Biden the re-election, to which the SEC Chairman answered that he “doesn’t speak about elections.” Gensler also avoided politics-related questions involving crypto.

“I’m a securities regulator. I’m focused every day on that part of my job, which is protecting the investors, and looking out for issuers’ access to markets. Fair, orderly, and efficient markets. And, with all respect, I hope your listeners understand, that’s my role. Other people can speak about elections,” stated Gensler.

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