Ripple CEO Sounds Alarm on SEC Chair Selection Amid Warnings of Oversight Risks
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Ripple’s CEO has warned against SEC Chair candidates tied to past enforcement controversies, urging leadership that fosters innovation and ends punitive crypto regulation.
A Name Sparks Debate: Ripple CEO Slams SEC Chair Prospect
Brad Garlinghouse, CEO of Ripple, has criticized the potential appointment of Caroline Stebbins as the next U.S. Securities and Exchange Commission (SEC) Chair, warning it could harm the crypto industry. Posting on social media platform X Monday, Garlinghouse stated:
In a group of strong candidates for SEC Chair, it’s unconscionable to consider someone directly involved in Bill Hinman’s unethical (likely illegal) push to pick winners and losers in crypto.
Choosing Stebbins would be akin to bringing us back to the start of the regulation by enforcement era.
This criticism comes amid expectations that current SEC Chair Gary Gensler will step down after Thanksgiving, with reports suggesting he may leave in early January, ahead of President-elect Donald Trump’s inauguration.
Trump has pledged to dismiss Gensler immediately, raising speculation about who will lead the agency next.
Paul Atkins, Dan Gallagher, Brad Bondi, and Bob Stebbins are among those some believe to be under consideration for SEC Chair.
Atkins and Gallagher are seen as more industry-friendly, while Stebbins faces opposition from crypto advocates due to her involvement in controversial enforcement actions, including the ongoing Ripple case. John Reed Stark, former head of the SEC’s Internet Enforcement division, has warned of risks under some candidates, cautioning against weaker oversight.
