According to Cointelegraph, Ripple Labs CEO Brad Garlinghouse said on social media that the 60 Minutes program omitted important information about the U.S. Securities and Exchange Commission (SEC)'s lawsuit against Ripple.
Garlinghouse noted that the show failed to mention that a federal judge ruled in July that programmatic sales of XRP on digital asset exchanges did not constitute securities. During the show, former SEC official John Reed Stark filed a dissenting opinion, saying the judge had repeatedly determined that they were securities.
The SEC filed a lawsuit against Ripple in December 2020, and in August a judge ordered the company to pay a $125 million civil penalty. The SEC appealed, and Ripple also cross-appealed, and the case is still ongoing.
Since the August ruling, XRP has briefly rebounded to become the third-largest token by market capitalization. Some asset managers have applied to the SEC to launch trading products related to XRP.
