The SEC Aided ETH to Surpass XRP as the Top 2 Crypto; Says Ripple CEO

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Chief executive at Ripple, Brad Garlinghouse, expressed his views regarding the current state of the crypto industry and its encompassing regulations. He then argued that the Securities and Exchange Commission (SEC) helped Ether (ETH) overtake Ripple’s XRP as the top 2 crypto today, only behind Bitcoin (BTC).

Notably, XRP is now but at the 7th place in terms of total market capitalization – a long way back from where it was years ago.

According to Garlinghouse’s speech at the DC Fintech Week virtual conference, the SEC gave ETH the green light that XRP failed to receive otherwise, referencing the regulator’s claims that XRP is unregistered security. Ripple, in return, filed a Freedom of Information Act counter plea, demanding the SEC to specify why it particularly did not take the same approach towards ETH.

In hindsight, Garlinghouse believes that the company suffered due to Ethereum’s continual successes primarily because the SEC treated it more favorably compared to other digital assets. As per the Ripple CEO, it has become evident that the SEC gives ETH special treatment, which is why ETH exploded in popularity and general use.

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