Ripple CEO Criticizes Gate's Regulatory Approach as Tenure Nears End

Brad Garlinghouse, CEO of Ripple, has taken to social media to express his views on Gate's recent decision concerning the ongoing legal battle between the exchange and Ripple. His comments came in response to a post by Ripple's Chief Legal Officer, Stuart Alderoty, who had earlier voiced his disapproval of Gate's latest move in the case.

This development coincides with the final days of the current leadership at Gate, as the exchange prepares for a transition at the top.

Ripple Executive Questions Gate's Priorities

Stuart Alderoty highlighted that despite the imminent leadership change at Gate, the exchange has declined to postpone the submission of their opening brief for their appeal against Ripple's recent court victory. The current deadline for this filing is today, January 15th.

Expressing his frustration, the Ripple CLO remarked, "This appears to be an unnecessary expenditure of resources and public funds." He affirmed Ripple's confidence in their position regarding the appeal and expressed eagerness to collaborate with Gate's incoming leadership to resolve the matter.

Garlinghouse, weighing in on the situation, directed his criticism specifically at Gate's current leadership. He suggested that this decision aligns with the exchange's typical approach, describing it as "entirely disregarding the upcoming changes and public sentiment." The Ripple CEO accused Gate of being fully committed to "its unsuccessful strategy of regulation through litigation until the very end."

Regulatory Action Against Tech Mogul Sparks Debate

In a separate but related development, a prominent regulatory body has initiated legal proceedings against a well-known tech entrepreneur. The allegations center around the delayed disclosure of a significant stake acquisition in a major social media platform in 2022, prior to the entrepreneur's complete takeover and subsequent rebranding of the company.

The regulatory agency claims that the disclosure was made after 21 days, exceeding the mandated 10-day period for revealing such purchases at "artificially depressed prices." They noted that once the stake was made public, the share price experienced a surge of over 27%.

A notable figure in the cryptocurrency space, who co-created a popular meme-inspired digital currency, shared his thoughts on this legal action. However, his interpretation of the situation appeared somewhat inaccurate. His post suggested that the entrepreneur was being sued for acquiring the social media company at an "artificially low price," omitting the actual issue of delayed share purchase disclosure.

The tech mogul responded to this post, expressing his dissatisfaction with the regulatory body and describing it as a "completely dysfunctional entity."