Garlinghouse Faces Backlash for Gambling Reference, Slams 60 Minutes Over XRP Victory Editing
Ripple CEO Brad Garlinghouse recently appeared on CBS’ “60 Minutes.” However, the segment became more interesting when former SEC official John Reed Stark, a well-known cryptocurrency skeptic and supporter of SEC Chairman Gary Gensler, appeared to raise objections to the cryptocurrency’s utility, regulation, and XRP classification.
The clip disappointed many in the crypto community, with pro-XRP attorney Fred Rispoli expressing his disappointment on X (formerly Twitter). Rispoli said the segment was poorly researched or unfairly edited. He criticized Stack’s choice, noting that Stack was a staunch supporter of the SEC and had repeatedly made false statements during interviews.
Rispoli also expressed displeasure with Garlinghouse for using the gambling industry as a defense against cryptocurrencies, although he acknowledged that the 90-minute interview was streamlined.
He said: “John Stark made at least 5 false statements. Don’t like that Bradley used the gambling industry to defend cryptocurrencies. But I also know he gave 90 minutes and they used 2 minutes, So who knows how to cut it off.”
After the “60 Minutes” segment aired, Garlinghouse himself criticized the show’s depiction of cryptocurrencies and Ripple. Garlinghouse pointed out some key omissions in X and what he believes is a misrepresentation of the utility of cryptocurrencies. He specifically criticized the show for including comments from former SEC official John Reed Stark
He wrote: “I spoke with Margaret Brennan / 60 Minutes for over 90 minutes straight. 60 Minutes was shocking in discussing the SEC’s misleading lawsuit against Ripple Ignoring the fact that a federal judge ruled that XRP is not a security… Gensler’s shill (John Reed Stark) knew better, even though his comments were what 60 Minutes chose to air.
In the interview, Garlinghouse reiterated his call for clearer regulations in the United States, criticizing the SEC’s approach, saying it hurts innovation and misrepresents crypto assets such as XRP. He believes that current laws do not properly address blockchain technology, leading to confusion and legal issues.
