Crypto tycoon Mike Novogratz, CEO of Galaxy Digital, gave a robust defense of Ripple and slammed SEC Chair Gary Gensler in a recent appearance on CNBC's Squawk Box. Praising Ripple's recent legal victory against the SEC, Novogratz hailed it as a significant win for both the company and the wider crypto community
It was a big, big win for Ripple and a big, big win for the crypto community," Novogratz stated, and then took aim at SEC Chair Gary Gensler's handling of the situation, stating, "Let's not let Gary Gensler put lipstick on a pig. They lost and they knew it." Novogratz's comments underscored his belief that the SEC's approach to cryptocurrencies is not in line with the market's actual needs and realities.