In the latest episode of CBS’s “60 Minutes,” Ripple CEO Brad Garlinghouse made a rare appearance to discuss the intersection of crypto and politics. Despite the high-profile platform, many crypto community members found the segment underwhelming, with Garlinghouse’s contributions being infrequent amidst a broader narrative that lacked depth and balance.
Ripple CEO Slams CBS
Throughout the approximately 13-minute feature, the Ripple CEO was asked about the pivotal impact the crypto industry had o the US presidential election, particularly the substantial financial influence of crypto companies. CBS highlighted that Ripple, along with other crypto firms, contributed a combined $144 million to super-pacs supporting both Republicans and Democrats.
Garlinghouse noted the effectiveness of these contributions in shaping electoral outcomes, noting their impact in pivotal races such as the election of Democratic senators in Michigan and Arizona. “Do I think we had an impact to elect a Democratic senator in Michigan, Alyssa Slotkin? Yes, absolutely. Do I think we had an impact in Arizona? A Democratic senator in Arizona, Gallego? Absolutely,” he stated.
On the topic of regulation, Garlinghouse underscored the industry’s push for clear legislative guidelines. He emphasized the importance of establishing “clear rules of the road” to ensure that the United States remains a leader in the crypto space rather than pushing the industry offshore where protections are minimal. “We’ve been asking to be regulated. So we have been saying, hey, look, just give us clear rules of the road,” the Ripple CEO said.
Garlinghouse praised bipartisan efforts, specifically citing the Fit 21 bill as a significant step towards a balanced regulatory framework that reallocates some regulatory responsibilities from the SEC to the Commodity Futures Trading Commission (CFTC). On the XRP lawsuit, CBS aired only a few word by the Ripple CEO: “Their allegation was that Ripple in our sales of XRP represented the sale of an unregistered security. […] I went to Harvard Business School. I think I’m reasonably intelligent about what is a security. So never once had I considered the possibility tha
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Author: Jake Simmons
