Ripple CEO Brad Garlinghouse Criticizes 60 Minutes for Omitting Key XRP and Crypto Facts

Ripple CEO Brad Garlinghouse took to X to address omissions in a recent 60 Minutes feature on crypto, including the landmark ruling that XRP is not a security and Ripple’s significant institutional use cases.

Ripple CEO Slams 60 Minutes Over Misrepresentation of XRP and Crypto Utility

Brad Garlinghouse, CEO of Ripple, expressed his dissatisfaction with how crypto and Ripple were portrayed during their debut on 60 Minutes. While applauding the broader coverage of cryptocurrency’s growing influence, Garlinghouse called out the omission of critical facts about XRP and blockchain’s role in mainstream financial systems.

SEC Lawsuit Ruling Ignored

Garlinghouse revealed that he engaged in a 90-minute interview with 60 Minutes host Margaret Brennan. However, the segment excluded key points regarding the SEC’s lawsuit against Ripple. Most notably, the omission of a landmark federal ruling where a judge determined that XRP is not a security stood out as a glaring oversight.

He accused John Reed Stark, a frequent crypto critic and former SEC official featured in the segment, of spreading misinformation. “Gensler’s shill knows better,” Garlinghouse stated, referring to SEC Chair Gary Gensler’s controversial stance on digital assets.

Blockchain Utility Undermined

Another point of contention was 60 Minutes’ portrayal of blockchain and crypto as lacking utility. Garlinghouse likened this to early criticisms of the Internet, which skeptics dismissed as a tool for illicit activities.

He pointed out that Ripple facilitates billions of dollars in KYC-compliant, cross-border transactions for institutional clients using XRP. This approach provides faster and more cost-efficient alternatives to traditional banking systems.

“Even JPMorgan is coming around on blockchain,” Garlinghouse noted, highlighting the growing acceptance of blockchain technology among major financial institutions.

Ripple’s Cross-Border Success Overlooked

Ripple’s institutional success and the utility of XRP were conspicuously absent from the feature. The Ripple CEO emphasized that XRP is central to powering cross-border payments, transforming global money transfers by enabling instant settlement at a fraction of traditional costs.

Garlinghouse’s Closing Remarks

Garlinghouse concluded his critique by reiterating that blockchain and cryptocurrencies are becoming increasingly mainstream, with far-reaching implications for global finance. He criticized the media’s tendency to focus on outdated narratives instead of highlighting advancements in the sector.

“The naysayers said the same about the Internet in its early days,” he wrote. “How vastly they were proven wrong.”

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