1. Ripple CEO Brad Garlinghouse posted a video on Twitter expressing his opinion that the U.S. financial watchdog, the Securities and Exchange Commission (SEC), acted in “bad faith, plain and simple.”
2. Garlinghouse’s comments were in response to the SEC’s lawsuit against Ripple, alleging that the company conducted an unregistered securities offering through the sale of XRP tokens.
3. Garlinghouse argued that the SEC’s actions were not only harmful to Ripple but also to the broader cryptocurrency industry, as they created uncertainty and stifled innovation.
Summary: Ripple CEO Brad Garlinghouse’s video on Twitter criticizing the SEC’s actions against Ripple highlights the ongoing legal battle between the two entities and raises concerns about the impact on the cryptocurrency industry as a whole.