TechFlow news, September 4 — According to Decrypt, at the Korea Blockchain Week press conference held in Seoul, Ripple Labs CEO Brad Garlinghouse boldly predicted that SEC Chair Gary Gensler will leave office regardless of the outcome of the 2024 U.S. presidential election. Garlinghouse said he would make a "gentleman's bet" that Gensler's tenure will not continue no matter who takes the White House.
Ripple's legal dispute with the SEC began in 2020, when the SEC accused Ripple of illegally selling $1.3 billion worth of unregistered securities in the form of XRP. In August 2024, a New York court ruled that Ripple must pay a $125 million penalty—significantly less than the $2 billion initially sought by the SEC.
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