Ripple CEO and Elon Musk Agree on SEC’s “Shameful” Behavior

Ripple CEO Brad Garlinghouse and Tesla CEO Elon Musk have both consistently expressed dissatisfaction with the SEC’s actions.

Garlinghouse’s latest objection comes in response to the SEC finally handing over key documents related to his lawsuit against Ripple. The Chief Executive made his statement in response to Announcement Developed by Ripple General Counsel Stuart Aldrotti.

SEC vs Ripple Labs

“The SEC Wants You To Think It Cares About Disclosure, Transparency And Clarity,” Garlinghouse Told, “Don’t believe them”. Once the extent of his actions were revealed, Garlinghouse declared, “the shamefulness of his behavior here will startle you”.

Garlinghouse is no stranger to expressing his “displeasure” about the SEC’s regulatory overreach. Last month, Ripple’s XRP surged after the chief executive told Fox News That the SEC had “lost its way” and “cuckooed for the cocoa puffs”.

Musk’s sentiment towards the SEC

His trademark sardonic style, what has become Musk replied As for Garlinghouse’s statement, saying rather bluntly, “Absolutely not”. Still, Musk himself has made statements to the Securities and Exchange Commission expressing the same sentiments as Garlinghouse.

Musk is known for the cryptic humor behind many of his tweets. Still, when Musk said he had “funding secured” to take Tesla private in 2018, the SEC wasn’t happy. The federal regulator moved to prosecute the chief executive for securities fraud. Ultimately, the SEC forced Musk to temporarily step down from Tesla’s board, and fined him and the company $20 million.

Musk later aired his complaints at a TED conference, calling the SEC a “bastard” for forcing him to step down. Earlier, Musk also called the federal regulator’s San Francisco office a “shameless puppet of a Wall St. short-seller shark.”

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