Ripple CEO Brad Garlinghouse says former U.S. Securities and Exchange Commission Chair Gary Gensler personally apologized to him regarding the years-long legal battle between the agency and the crypto industry.
According to Garlinghouse, the exchange reportedly took place on the sidelines of a high-level digital asset policy meeting at the White House. He described the situation as “quite strange,” with Gensler allegedly approaching and saying “Sorry” at the end of the session. However, some sources later indicated it’s unclear whether Garlinghouse was directly referring to Gensler.
Gensler’s tenure at the SEC has been characterized by an “enforcement-based” approach, with him repeatedly asserting that most digital assets could be classified as securities. Ripple has been a strong opponent of this stance and achieved a landmark ruling in 2023, stating that XRP itself is not a security.
The legal battle officially concluded in early 2025 after the SEC withdrew its appeal, allowing Ripple to significantly expand its operations.
Notably, the initial lawsuit against Ripple was filed during former Chair Jay Clayton’s tenure. Gensler has not yet made any official comments regarding the alleged private apology.
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